Hyperloop Finance is a non-liquidative lending protocol pairing each loan with a matching put option.
Hyperloop Finance is a non-liquidative lending protocol that pairs each loan with a matching put option, bringing fixed-rate, fixed-maturity credit on-chain.
Long-duration BTC holders—including treasuries, family offices and listed-company shareholders—need liquidity against their collateral without the path-dependent risk of forced liquidation. This demand is often served through bespoke, bilateral OTC arrangements.
Hyperloop brings this market on-chain through Awakening, our lending protocol built on EVM.
What Awakening does
Non-liquidative lending. Borrowers are not subject to interim liquidation during the loan term. A matching put option is designed to cover the collateral’s downside at maturity, protecting repayment without triggering forced sales as prices fluctuate.
Fixed-rate, fixed-maturity credit. Each market has a defined maturity and maximum strike. Interest rates are discovered through maker-signed offers rather than variable pool-utilization curves. A 90-day loan paired with a 90-day put becomes one integrated credit product.
Explicit option attribution. The Put Attribution Token (PAT) layer records the protection associated with each loan, connecting loan accounting to its corresponding option terms.
Offer-based execution. Lenders and borrowers can create signed offers. The protocol handles pending execution, protection attribution, loan activation, repayment and maturity settlement.
Options sourced from existing liquidity
Hyperloop is designed to route existing option liquidity into non-liquidative credit:
Deribit: institutional put liquidity, with off-chain positions represented through custodian attestations.
Derive: a planned route for on-chain option protection.
Internal put-writing pool: a proposed fallback for maturities or strikes unavailable on external venues.
Makers hedge externally and quote against their net funding and protection costs. These are intended production routes; the current testnet uses simulated option protection and does not execute live Deribit or Derive trades.
Built on Morpho Midnight’s market primitive
Awakening builds on Midnight’s offer-based architecture: isolated, immutable, permissionlessly created markets. Hyperloop adds the PAT layer and a protection-attribution workflow to support lending without interim liquidation.
How the contracts work
Awakening: manages markets, signed-offer execution and the lending lifecycle.
AwakeningLoans: maintains loan-level accounting.
OptionVault: provides the vault component used by the protection workflow.
AttestedPAT: represents attested option protection associated with loans.
AwakeningSettlement: handles repayment and maturity-settlement flows.
EcrecoverRatifier: validates EIP-712 signed offers and supports on-chain cancellation.
Execution uses a pending stage before loan activation. Funds and collateral enter the pending workflow, and the loan becomes active after the required protection attribution is completed.
Current testnet deployment
The application is deployed on two networks:
Arbitrum Sepolia — chain ID 421614
Awakening: 0x73728f7f7b2b8a51f412e8f15b38f8c428e04910
AwakeningLoans: 0x747b6Cc5df4cE1e9f223CA10a713139de7aCB52E
OptionVault: 0xe37ff209af36b4c3133106b17d0d258f0f7c6ce3
AttestedPAT: 0xba98a7da9046d6137d06c9dabdb3eb0768356e95
AwakeningSettlement: 0xf6ae108b77641b0a5fc7eb358446b221b36daf07
EcrecoverRatifier: 0x5a6ab386f7254f815258bf63c0616d4cbc4a9cd7
Robinhood Chain Testnet — chain ID 46630
Awakening: 0x73728f7f7b2b8a51f412e8f15b38f8c428e04910
AwakeningLoans: 0x747b6Cc5df4cE1e9f223CA10a713139de7aCB52E
OptionVault: 0xe37ff209af36b4c3133106b17d0d258f0f7c6ce3
AttestedPAT: 0xba98a7da9046d6137d06c9dabdb3eb0768356e95
AwakeningSettlement: 0xf6ae108b77641b0a5fc7eb358446b221b36daf07
EcrecoverRatifier: 0x5a6ab386f7254f815258bf63c0616d4cbc4a9cd7
Both deployments include the lending contracts, protection components, settlement contracts and signed-offer ratifier. Each network has independent balances, orders and loan state, with signatures bound to the relevant chain.
The current lending markets use tBTC collateral and tUSDC loan assets. The Faucet also provides tUSDT, bTesla and bNVIDIA for testing; faucet availability does not imply that lending markets exist for every asset.
Application and backend
The frontend brings Markets, Orders, Positions, Settlement and Faucet into one interface, with wallet connectivity and switching between the two testnets.
The backend provides:
Contract-event indexing and account-level read models.
Signed-order storage, validation and relay.
Quote and market-data APIs.
Separate network configurations and database schemas.
Users sign through their own wallets. The backend does not hold user signing keys.
What we have validated
End-to-end acceptance on each testnet completed 56 checks and 38 successful transactions, covering:
Test-token faucet claims and approvals.
Lending against lender-signed and borrower-signed offers.
Pending execution and simulated protection attribution.
Partial and full repayment, collateral return and lender withdrawals.
Signed-order cancellation and pending-execution refunds.
Actual maturity expiry and settlement using simulated protection proceeds.
The deployed website has also been checked for network switching, matching chain configurations, market-data loading and Faucet display.
Explore Hyperloop
App · GitHub · Core Contract Source
Current scope: testnet only. Test assets have no monetary value, and PAT protection is currently simulated. These deployments demonstrate the lending and settlement workflows; they do not represent live external option execution or a mainnet lending service.