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What HUME does, what it costs, and how to check it yourself.
01 / Perpetuals, plainly
Take either side of a tokenized stock with leverage. No broker and no waiting. Prices update 24 hours a day, 5 days a week. When a feed is stale, the market shows its last close and refuses new orders.
Start with a market and a side.
Pick a tokenized stock, go long or short, and set the size. Margin and leverage stay inside the limits the market sets.
See it before you sign.
Size, fees and the liquidation price are shown before the wallet is asked for anything. A paused market still prices and refuses the trade.
One signature.
The position opens against the shared vault. Margin, funding and PnL settle onchain, and you can verify every step.
This is the review step. Nothing is signed until you confirm it in your wallet.
02 / Options, defined
Calls and puts on tokenized stocks, with the worst case drawn before you buy.
Every series in one view.
Browse calls and puts by expiry and strike, with the premium and the greeks beside each one.
The shape of the trade.
Maximum loss, break-even and payoff at expiry are shown up front, for a single option or a strategy built from several.
Cash-settled at expiry.
Settlement is computed onchain from the oracle price at expiry. Nothing is delivered and nothing is left to a counterparty.
The worst case is drawn before you buy. Options are cash-settled at expiry from the oracle price.
03 / One vault, explained
Collateral, positions and credit share one onchain vault, so what you hold is what backs what you owe.
Deposit once.
Collateral sits in the vault and backs your perpetual and option positions. Withdraw what is free at any time.
Lend and borrow, capped.
Lend, or borrow against a stock token. Caps are deliberately small at launch, and a paused pair stays visible and refuses new loans.
Risk in plain sight.
Health factor and liquidation price are shown for every position, so danger is visible before it is urgent.
Your collateral is worth comfortably more than the loan needs.
04 / More on HUME
China market
A group for China-linked stocks and ETFs. Names with a price feed trade like any other perpetual. The rest show a reference price and refuse trades.
See the China groupPons market
Buy and sell Pons tokens for ETH without leaving HUME. Each swap shows its price, its price impact and the least you will receive before you sign.
Open PonsLeaderboard and PNL card
Traders ranked by PNL, ROI or volume. A closed position becomes a card you can share.
Open the leaderboardCopy trading
Follow a trader you choose, with a budget and limits you set. Skipped trades are shown with the reason, and you can stop and withdraw at any time.
Open copy tradingHow it works
01
Choose
Pick a market and a side, or an option series and a strike.
02
Review
See the size, the fees and the worst case before the wallet is asked for anything.
03
Sign
One signature in your wallet. Nothing is signed without a review first.
04
Settle
Margin, funding and PnL settle onchain, and every step can be checked on the explorer.
Risk and fees
Fees, leverage tiers and caps are set per market and can change, so they are read from the chain when this page opens and never written here. A paused market keeps rendering and pricing, and refuses the trade. Caps are deliberately small at launch.
Reading parameters from the chain…
How these are usedMarkets
Reading the registry…
Verify it
| Contract | What it does | Address |
|---|---|---|
| Market registry | Lists every tokenized equity market and its parameters. | 0xD56A8cB9A047d38c0A16048756627FDc43E17077 |
| Vault | Holds trader collateral and settles every trade's PnL. | 0xE27eB199e5957a948D304518Fc8fcCF6e88AaF26 |
| Collateral manager | Keeps the ledger of what each account has deposited. | 0xbCB4B5f52A9b8A12a1707948a4479AA727898fb5 |
| Fee manager | Collects trading fees and routes a share to the buyback module. | 0x8eDD2215ffDD41144685A00826326DddB6cb487E |
| Buyback module | Uses protocol revenue to buy back the protocol token. | 0x8f5f75370B44792154baC8f69f36456557826693 |
| Risk manager | Sets each market's open-interest cap and leverage tiers. | 0xa0D5Ae076151788DFA03583Bf42D13B420263Dd4 |
| Oracle router | Routes and validates the mark and index price every contract reads. | 0xf009Ba3BE0987c51Fd2260E7184A61b10195418f |
| Price validator | Rejects stale or out-of-bounds oracle prices before they're used. | 0xA38311d14f89764a2D5e4A45E1FEF7A07Ac1BEB0 |
| Perps engine | Executes leveraged long and short perpetual positions. | 0x7c15B52f50BFFE0bc9f762EaEEc77a1cba37D044 |
| Perp position manager | Stores perpetual positions; the perps engine is the only writer. | 0x18F8040BDDb7292D90Ca0Df045463d9809010E0A |
| Funding manager | Charges the side pushing price away from index, pays the other. | 0x5DE0abc2cf0821677C5D56Db326c305B331303fc |
| Liquidation engine | Lets anyone liquidate an eligible position for a reward. | 0x571bFdF07297Fb880B43C1FDbCbBcBB55A010b85 |
| Perp order manager | Holds resting limit and trigger orders until they fill. | 0x4d05B3f5E1dBF1bBA3a935bF2634C54C56E19bFF |
| Options engine | Prices and settles cash-settled calls and puts. | 0x043F2882360e5f33803610960bdf57c47011A828 |
| Option market | Tracks each option series and its open interest. | 0x6C0BF76640aBf555CE129dC4F96A34d2955aB738 |
| Option position manager | Stores option positions; the options engine is the only writer. | 0x9b37F4579dbcbB1ae2FDF469EDc2Bc6Dc544d0d3 |
| Insurance fund | Covers a liquidated position's shortfall so bad debt stays rare. | 0x3626E18E05F870a136d6C3198e8Cb2fD289b63C8 |
| Cross margin manager | Backs a cross position with the whole account, not just itself. | 0x3f7F8019695D3D09eFe22d3752E12EBd3588Fa88 |
| Subaccount factory | Creates subaccounts and limits what they're allowed to call. | 0x8981D3f0B8332Eb4F31da89caCD87E5c95537326 |
| RFQ manager | Lets a market maker quote a user's trade directly, off the order book. | 0x8E5ce4013777bFbF95D8c7DB985feF1D971086d3 |
| Lending pair | Locks a stock token as collateral and lends USDG against it, with a liquidation limit. | 0x4b166551CdD904D8D7AfB7170D92A0d8D35cF141 |
| Pons router | Buys and sells Pons tokens for ETH in their own pools. No owner, no fee, no funds held. | 0x36Db1af59A6B2be59420dA9D2D93ba1179B39969 |
Questions
No. The contracts are unaudited, so trade only what you can lose. Every contract is listed in full below so you can read it on the explorer.
Yes. Choose Robinhood Chain Testnet in the header. It uses test tokens with no value and mock prices; the header shows which network you are on. Mainnet uses real funds.
Tokenized stocks, ETFs and crypto assets, in groups such as US, China and crypto. A few China names show a reference price only and cannot be traded. Pons tokens trade as spot, not as perpetuals.
Yes, where copy trading is switched on. You pick a trader and a budget, set limits, and review them before you sign. Trades are copied into a separate account. HUME cannot withdraw from it, and you can stop at any time.
It still renders and still prices. It refuses new trades, and the page says why in plain words.
An oracle router supplies the mark and index price every contract reads, and a price validator rejects stale or out-of-bounds prices before they are used.
In cash, at expiry, from the oracle price. Nothing is delivered and nothing is left to a counterparty.
Anyone can liquidate an eligible position for a reward. An insurance fund covers a shortfall so bad debt stays rare.
Verify it. Then trade.
Pick testnet or mainnet in the header, then connect a wallet.
