> For the complete documentation index, see [llms.txt](https://docs.catapult.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.catapult.trade/catapult-hyper.md).

# CATAPULT HYPER

Catapult Hyper is the consumer-grade mobile trading application built on Hyperliquid's perp infrastructure. It exposes real markets, crypto, equities, indices, commodities, FX, through a social, gamified surface, linking traders, their social graph, and the broader Hyperliquid ecosystem through a continuously reinforcing engagement loop.

### Hyperliquid Integration

Hyper operates as a thin client on top of Hyperliquid, routing order flow through builder code rather than taking custody. By inheriting Hyperliquid's perp-native liquidity, every asset listed on the L1 becomes immediately available to Hyper users without separate listing pipelines or fragmented order books. Embedded wallets and a partner onramp let users enter through fiat or crypto.

### The Ride Loop

Hyper replaces the futures terminal with a thirty-second engagement cycle. The atomic action is a *Ride*: a directional bet on any asset, modulated mid-flight with leverage temperatures, shields, or insurance, and closed with a cash-out that auto-broadcasts to the user's feed. A multi-channel notification layer pulls users back in through friend activity, market events, streak nudges, and protective alerts on their own live positions, with cadence throttled so the loop intensifies without burning the user.

### The Gamification Layer

Base ride flow carries no edge for Hyper beyond a small UI builder fee: counterparties are other Hyperliquid traders, and the underlying PnL exposure is real. The edge lives one layer up, in tiered gamification mechanics (insurance products, streak shields, daily passes, comeback bonuses, revives) each conveying a different relationship to risk. The wrappers produce mathematically defined outcomes with house edge, while the market exposure underneath remains entirely real.

### $PULT and Real Yield

The ecosystem token consolidates platform-wide utility: stakers trade fee-free, $PULT denominates engagement rewards, and it anchors the flow between active traders, insurance reserves, and treasury. Buy pressure is sourced from explicit buyback-and-burn, insurance pool surplus conversion, and comeback distributions to losing traders, generating more independent demand sinks than most launchpad tokens have nominal utilities.