Asphodel is the market layer for Elysium, the 100 ms L2 of Hyperliquid. Tokens start on a fair curve, graduate into liquidity that can never be pulled, and the majors trade as perps against a HYPE vault.
One transaction deploys a plain ERC20 with a fixed billion supply and opens its curve. No presale, no team bag, no mint function. The first buy can ride in the same transaction.
Price climbs a virtual constant product curve. When the last curve token sells, the contract migrates in the same block. Buys that overshoot get refunded.
Raised HYPE and 200M tokens seed a TOKEN / HYPE pool. The LP is credited to 0xdead, forever. Anyone can add liquidity on top and earn 0.30% of every swap.
HYPE, BTC, ETH, SOL and XRP up to 40x, collateral in HYPE. Every open, close and liquidation carries a signed Hyperliquid price the contract verifies. The vault takes the other side.
One billion supply, 800M on the curve, 200M to the pool with the LP burned. 1% per curve trade.
Every graduated token gets a TOKEN / HYPE pool. Add liquidity and earn 0.30% of every swap. Open a pool for any ERC20.
Long or short the majors with HYPE as collateral. Signed Hyperliquid prices, a HYPE vault on the other side.
Connect, take 5 HYPE from the faucet in the wallet menu, and launch something.