> For the complete documentation index, see [llms.txt](https://docs.div.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.div.fun/core-concepts/reward-assets.md). # Reward assets The reward asset is what a token pays dividends in. It is chosen by the creator at launch and fixed for the life of the token. This is the choice that defines what holding a token feels like: a token that pays in USDC pays you stablecoins; a token that pays in QQQ pays you exposure to the Nasdaq-100. ### What can be a reward asset A reward asset is a real token on HyperEVM. div.fun supports three families: #### HYPE The native asset of Hyperliquid. Dividends arrive as wrapped HYPE in the holder's wallet. HYPE is the most liquid choice and the simplest path, because the fee is already collected in HYPE-denominated value. #### Stablecoins Dividends paid in a stablecoin are dividends paid in a stable unit of account. Holders receive a predictable asset they can spend or hold without price risk on the dividend itself. div.fun supports the major HyperEVM stablecoins, including USDC. #### Tokenized stocks A token can pay dividends in a tokenized stock — exposure to an equity such as the Nasdaq-100 (QQQ), gold (GLD), or others available on HyperCore. This is div.fun's distinctive option: a holder is paid, in effect, in shares. Stock dividends settle through a different path than HYPE or stablecoins, described in [Stock dividends](/stock-dividends/stock-dividends.md). ### How the reward asset is acquired The fee retained from each trade is collected in the token's own units and converted into the reward asset on-chain: * For **HYPE and stablecoins**, the conversion is a swap on HyperSwap. The fee is routed through liquid pools into the reward asset, which is then distributed. * For **tokenized stocks**, the fee is first converted to a stablecoin, then used to buy the stock on HyperCore's spot order book, which is then bridged back and distributed. This path is asynchronous and keeper-driven — see [How stock dividends work](/stock-dividends/how-stock-dividends-work.md). ### Choosing well, as a creator The reward asset is a positioning decision as much as a technical one: * **HYPE** suits a token that wants to feel native to Hyperliquid and keep everything in one asset. * **A stablecoin** suits a token that wants to pay holders something stable and legible — "this token paid you $X". * **A tokenized stock** suits a token with a thesis — paying holders in the thing the token is about. Whatever you choose, choose deliberately: it cannot be changed after launch. See [Choosing a reward asset](/for-creators/choosing-a-reward-asset.md) for the creator's view, including liquidity considerations. ### Permissionless by design The reward asset only has to be a real, deployed token on HyperEVM. div.fun curates a list of well-known assets in the launch wizard, but a creator can also supply a custom token address. The wizard checks that the address is a real contract and warns when it has no liquid path for conversion, but the responsibility for a sensible choice rests with the creator. A reward asset with no liquidity simply will not distribute well — see [eligibility](/core-concepts/reward-eligibility.md) and [economics](/for-creators/economics-and-fees.md). The reward asset is what a token pays dividends in. It is chosen by the creator at launch and fixed for the life of the token. This is the choice that defines what holding a token feels like: a token that pays in USDC pays you stablecoins; a token that pays in QQQ pays you exposure to the Nasdaq-100. ### What can be a reward asset A reward asset is a real token on HyperEVM. div.fun supports three families: #### HYPE The native asset of Hyperliquid. Dividends arrive as wrapped HYPE in the holder's wallet. HYPE is the most liquid choice and the simplest path, because the fee is already collected in HYPE-denominated value. #### Stablecoins Dividends paid in a stablecoin are dividends paid in a stable unit of account. Holders receive a predictable asset they can spend or hold without price risk on the dividend itself. div.fun supports the major HyperEVM stablecoins, including USDC. #### Tokenized stocks A token can pay dividends in a tokenized stock — exposure to an equity such as the Nasdaq-100 (QQQ), gold (GLD), or others available on HyperCore. This is div.fun's distinctive option: a holder is paid, in effect, in shares. Stock dividends settle through a different path than HYPE or stablecoins, described in [Stock dividends](/stock-dividends/stock-dividends.md). ### How the reward asset is acquired The fee retained from each trade is collected in the token's own units and converted into the reward asset on-chain: * For **HYPE and stablecoins**, the conversion is a swap on HyperSwap. The fee is routed through liquid pools into the reward asset, which is then distributed. * For **tokenized stocks**, the fee is first converted to a stablecoin, then used to buy the stock on HyperCore's spot order book, which is then bridged back and distributed. This path is asynchronous and keeper-driven — see [How stock dividends work](/stock-dividends/how-stock-dividends-work.md). ### Choosing well, as a creator The reward asset is a positioning decision as much as a technical one: * **HYPE** suits a token that wants to feel native to Hyperliquid and keep everything in one asset. * **A stablecoin** suits a token that wants to pay holders something stable and legible — "this token paid you $X". * **A tokenized stock** suits a token with a thesis — paying holders in the thing the token is about. Whatever you choose, choose deliberately: it cannot be changed after launch. See [Choosing a reward asset](/for-creators/choosing-a-reward-asset.md) for the creator's view, including liquidity considerations. ### Permissionless by design The reward asset only has to be a real, deployed token on HyperEVM. div.fun curates a list of well-known assets in the launch wizard, but a creator can also supply a custom token address. The wizard checks that the address is a real contract and warns when it has no liquid path for conversion, but the responsibility for a sensible choice rests with the creator. A reward asset with no liquidity simply will not distribute well — see [eligibility](/core-concepts/reward-eligibility.md) and [economics](/for-creators/economics-and-fees.md). --- # 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.div.fun/core-concepts/reward-assets.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.