BasisX - HIP-3 Yield Perps

01 / Brief

Solution

BasisX is a HIP-3 project built to make yield exposures tradeable on Hyperliquid testnet. The goal was to tokenize yield concepts (funding rates, bond/TLT-style narratives, and macro-linked flows) into tradable HIP-3 instruments. I delivered the project end-to-end as the sole engineer: market configuration (collateral assets, fees, parameters), token pricing logic design with backtests, oracle deployment, HIP-3 token and market deployment, frontend build, Hyperliquid SDK trading integration, and a backend tracking layer for community activity. The product was used by internal teams, early traders, and community users during testnet.

02 / Constraints

Problem

• Designing token price-action formulas for yield-linked instruments under volatile conditions
• Handling negative-yield scenarios without breaking non-negative token price constraints
• Running backtests to improve oracle pricing accuracy for hedging use cases

03 / System

Architecture / workflow

• Built and shipped end-to-end as a solo developer
• Configured and deployed HIP-3 markets, tokens, and oracle infrastructure
• Integrated Hyperliquid SDK into a production-ready trading frontend
• Deployed 3 tokens and onboarded 100+ testnet users

04 / Evidence

Results / impact

• Shipped a complete HIP-3 yield trading product on testnet as a solo developer
• Deployed 3 tokens
• Reached 100+ testnet users

05 / Gallery

Visual references