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Market makers

Turn XMR inventory into USDC on Hyperliquid at a premium, or source XMR2 for your own books. Everything runs on our API plus Hyperliquid's.

The loop

  1. Deposit XMRPOST /api/deposit with your Hyperliquid address, send XMR to the subaddress.
  2. Receive XMR2After 5 confirmations (10 for deposits of 200 XMR or more), 1:1 in your spot balance.
  3. SellInto our standing bid at up to 1.0% over XMR/USDC, or anywhere on the XMR2/USDC book.
  4. SettleUSDC stays on Hyperliquid for your next trade, or goes to Arbitrum.

In reverse: buy XMR2 on the book and redeem it for XMR with POST /api/withdraw (1.0%).

Finding XMR2 on Hyperliquid

XMR2 trades on the spot pair @1189 (XMR2/USDC). Identify it by its token ID, not by its name or its position in a list:

TokenXMR2, index 1333, token ID 0x5f0c311fab64ce729122ed14d39c7332 (also token in GET /api/status)
Market data"coin": "@1189" in l2Book, recentTrades, candleSnapshot and the WebSocket subscriptions
Ordersasset 11189 (10000 + pair index 1189); size in steps of 0.01 XMR2, at least $10 per order
Balances"coin": "XMR2" in spotClearinghouseState

To check it yourself: in spotMeta, take the token whose tokenId is the ID above, then the universe pair whose tokens are [1333, 0]. Match tokens by their index field: spotMeta.tokens has gaps, so a token's position in that list is not its index. Some front ends get this wrong and show another market as XMR2/USDC; Hyperliquid's own app hides XMR2.

Economics

  • Bridge deposit 0%; our bid pays up to 1.0% over the XMR/USDC market price (the median of Hyperliquid's XMR perp and major exchanges); the current premium is live in GET /api/compare.
  • Redemption 1.0% (Wagyu: 2% for XMR1).
  • Your costs on Hyperliquid: your fee tier's spot fees and 1 USDC per withdrawal.

Backing you can check

Vault XMR is verified against circulating XMR2 every 5 minutes, issuing pauses automatically on any mismatch, and the Monero reserve proof, refreshed every 5 minutes, is public in GET /api/status. See Reserves & proof.

Practical notes

  • Our bid rises when we need XMR: its top level sits between market and +0.9% depending on how much XMR we hold, and the whole ladder (10 / 40 / 60 / 50 / 50 XMR2) moves with it. The less XMR we have, the more we pay.
  • No deposit limit: every deposit is credited automatically after 5 confirmations (10 from 200 XMR). Redemptions up to 250 XMR are paid automatically; larger ones after a manual approval.
  • Every redemption order gets its own Hyperliquid address (sendTo): send the XMR2 there from any address, and run as many redemptions in parallel as you need.
  • Poll orders, don't hammer them: Rate limits & keys.

Talk to us

For larger automatic redemptions or a direct line: support.