# What is halc.fun?

halc.fun is a token launchpad on HyperEVM. Every token launched on halc.fun is paired with a tokenized Hyperliquid perp instead of a normal spot asset such as HYPE or SOL.

This means a token's price moves from two sources: Trading activity on the token (users buying and selling) and the leveraged performance of the underlying asset (realized by the tokenized perp). When the underlying asset moves in the desired direction, a token's price will appreciate even without new buyers.

Creators choose their token's underlying asset (HYPE, BTC, ETH, SOL, PAXG), direction (long or short), and leverage multiplier (2x, 3x, 5x). Users buy and sell with USDC. At $9K in curve value, the token graduates to a HyperSwap pool and continues trading.


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