There is currently 800M USDC deposited on Hyperliquid and most is earning nothing. haUSDC — the flagship harmonix vault from harmonix-finance — will change that. Built natively on harmonix hyperliquid by harmonixfi.

What Is haUSDC?

haUSDC is Harmonix's yield-bearing receipt token for USDC depositors. It follows the ERC-4626 vault standard — the gold standard for yield-bearing tokens in DeFi.

The mechanic is simple: Deposit USDC → receive haUSDC shares → watch your share grow in value over time.

Yield compounds directly into the exchange rate. No claiming. No staking. No manual rebalancing. Your share simply becomes worth more USDC as yield accrues. Minimum deposit: 1 USDC.

Where Does the Yield Come From?

Capital is split across three strategies that shift dynamically based on market conditions:

1. Delta Neutral — the engine: Capital is paired long spot / short perpetuals on HyperCore to earn funding rate payments while maintaining zero directional exposure. No price bets. This is the primary, most consistent yield source.

2. Spot Supply — the multiplier: A portion is deployed into lending and liquidity protocols on HyperEVM — Felix, Hyperswap, and HyperLend — generating additional variable yield on top of funding income.

3. Idle Buffer — the safety valve: A small reserve is kept undeployed at all times to support smooth redemptions without unwinding active positions.

When funding rates shift, capital rotates automatically. No action needed from you.

Coming Upgrade: ERC-7540

Harmonix is implementing the ERC-7540 standard — an official async extension of ERC-4626 — to enable integrations like Superform. Once live, users will be able to deposit into haUSDC from any chain, using any asset, via platforms like Superform's app and mobile. No manual bridging. No extra steps.

The upgrade supports Harmonix's asynchronous withdrawal architecture while keeping instant deposits — the standard design for vault strategies that take time to unwind positions.

Beyond Base Yield: Points Stack Automatically

Every haUSDC position automatically accrues Harmonix Points and partner protocol points with no additional steps. These compound total returns on top of what the base APY shows, rewarding early contributors to the ecosystem.

Key Details

Underlying asset: USDC

Standard: ERC-4626

Minimum deposit: 1 USDC

Strategy: Delta-neutral basis trade + HyperEVM lending

Points: Harmonix Points + partner protocol points (automatic)

One Thing to Know

haUSDC is not a fixed-yield instrument. Yield fluctuates with funding rates, market conditions, and protocol activity. The share price grows over time as yield accrues — each haUSDC will be worth more USDC at redemption than at deposit. haUSDC is not pegged to $1; it is a yield-bearing vault share denominated in USDC.