HIP-3 YEX Perps Specifications

Preliminaries and Notation

Let time t be in seconds and D_hr = 8760 be the number of hours per year. For any annualized rate process r_t, we define a cumulative coupon index I_t:

$$I_t = ∫(r_s / D_hr) ds$$

HIP-3 Perps on Nunchi include:

• The VXXN-PERP (Volatility Perpetual)

• The TBILLYLD (T-Bill Yield Perpetual)

• The HYPEYLD-PERP (Funding Rate Perpetual)

• The MONADYLD-PERP (Monad Staking Rate Perpetual)