> For the complete documentation index, see [llms.txt](https://docs.halc.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.halc.fun/what-is-halc.fun.md). # 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. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.halc.fun/what-is-halc.fun.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.