gmeow! With Derive launching on HyperEVM, we’re introducing a structured rewards program for HypurrCollective users. This guide covers the exact steps, rules, and requirements for participating.

What are the Incentives?

We’re allocating $5,000 USDC + 5,000 OP to the HypurrCollective community.

  • $5,000 USDC split among the Top 10 traders ranked by raw PnL
  • 5,000 OP distributed as a reward for stakers of HypurrCollective.

What Instruments can I trade?

You can trade any of the following during the competition window:

  • HYPE options & perps
  • ETH options & perps
  • BTC options & perps

How to Participate (Step-by-Step)

  1. Bridge HYPE to HyperEVM. Use Derive’s HyperEVM Vault to bridge your HYPE. HYPE stays custodied on Hyperliquid and you receive its HyperEVM representation as margin.
  2. Use HYPE as Trading Collateral. Once bridged, your HYPE can be used to open:
    1. Long/short perp positions
    2. Call or put options
    3. Spreads, covered positions, volatility trades, etc.
    4. Collateral, settlement, and clearing occur natively on Derive.

Any PnL you generate on eligible markets counts toward your ranking!

How PnL Scoring Works

Raw PnL = (Unrealized + Realized PnL) at competition end, independent of:

  • Volume
  • Leverage
  • Number of trades
  • Fees paid
  • Time spent in positions

There are no multipliers and no loopholes. Profit is measured directly off your trading account.

Reward Structure

$5,000 USDC. Top 10 PnL Ranking. Rank 1: Largest share. Rank 10: Smallest share.

There's also a 5,000 OP Validator Staker Boost split evenly amongst all participants 🐱 To qualify for the OP boost:

  • Stake with the Nansen x HypurrCollective validator
  • Have at least one eligible trade during the program
  • OP is split proportionally among eligible stakers
  • This reward is independent of your PnL ranking.

Competition Duration

A full 5-week window.

Competition begins: Thursday, December 11 2025 12:00:00 AM UTC

Competition ends: Thursday, January 15 2026 12:00:00 AM UTC

Terms & Conditions

Derive reserves the right to monitor all activity throughout the competition and disqualify any participant at its discretion.

If you want to participate; Bridge HYPE, use HYPE as margin and trade HYPE/ETH/BTC perps or options. That’s it, try it today!