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Paragon Launches HYPE² Power Perpetuals on Hyperliquid

1 reports1 sources11/5/2026 updated

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AI overview

Paragon has launched Power Perpetuals (Power Perps) on the Hyperliquid ecosystem, with the first product tracking the square of HYPE (HYPE²). The contract has no strike price and no expiration, allowing traders to obtain option-like convexity through a perpetual format: long positions gain more when the price rises, while losses are relatively reduced when it falls, but traders must continuously pay funding rates tied to volatility variance. Paragon said the product, starting with HYPE², lets traders access option-style payoff curves by opening positions, offering another trading entry point.

Written with AI from the reporting · updated 11/5/2026

Latest developmentNov 5, 12:30
Paragon Launches Power Perps on Hyperliquid for HYPE Squared Perpetual Trading
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  1. 1Unclassified fact stationNov 5, 12:57single sourcereport-time only

    Paragon 在 Hyperliquid 推出 Power Perps 次方永续合约

    Read original source ↗ PANews · ArticlesReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    Paragon
    Action：
    推出
    Object：
    Power Perps（HYPE² 次方永续合约）
    Occurred (fact side)：
    not recorded
    PANews · Articles ↗Report pageOriginal / first version
    Published (valid side)：
    Nov 5, 12:30
    First seen (known side)：
    Nov 5, 12:57
    Fact stationSingle source · one-sided claimReport-time only

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Nov 5
  1. PANews · ArticlesRelated fact: single sourceFact occurrence time unverified
    Paragon Launches Power Perps on Hyperliquid for HYPE Squared Perpetual Trading

    Report first recorded Nov 5, 12:57

    Paragon has launched Power Perps on Hyperliquid, starting with HYPE squared perpetual contracts that track the square of the HYPE price. The product has no strike price or expiration and offers option-like convexity, letting traders profit from large price moves in either direction while paying funding costs tied to realized variance.

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