> 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/protocol/architecture.md). # Architecture div.fun is built from on-chain contracts on HyperEVM and a small amount of off-chain infrastructure that drives distribution. This page gives the shape of the system; [smart contracts](/protocol/smart-contracts.md) describes each contract's role, and [the keeper](/protocol/the-keeper.md) covers the off-chain part. ### The pieces ``` HyperEVM ┌──────────────────────────────────────────────────┐ │ Factory ── deploys ──> Token (fee-on-transfer) │ │ │ │ │ ├─ Bonding curve │ │ ├─ Reward distributor │ │ └─ Stock converter │ │ │ │ Token <── trades ──> HyperSwap V2 pool │ └──────────────────────────────────────────────────┘ │ ▲ stock orders │ │ stock back ▼ │ HyperCore spot order book Keeper (off-chain) ── drives distribution & stock flow Indexer (off-chain) ── serves the board, token pages, history ``` ### On-chain * A **factory** deploys every token and its associated contracts as cheap clones, with a fixed configuration. * Each **token** is a fee-on-transfer ERC-20. Its dividend logic, curve, distributor, and (for stock rewards) converter are wired to it at creation. * Tokens trade on a **bonding curve** before graduation and on a **HyperSwap V2 pool** after. Liquidity from graduation is burned (LP sent to a dead address, provably non-withdrawable). * For stock reward assets, a **converter** interfaces with **HyperCore**, Hyperliquid's spot order book, to acquire the stock. Everything that defines a token — its reward asset, dividend share, split, and supply — is set on-chain at launch and is immutable thereafter. ### Off-chain Two services support the on-chain contracts without having custody of holders' funds or the power to change token terms: * **The keeper** drives [distribution](/core-concepts/dividend-distribution.md): it pushes dividends to holders and, for stock rewards, drives the asynchronous HyperCore order flow. It can only do what the contracts permit — call permissionless distribution functions and place the orders the contract design allows. * **The indexer** reads on-chain events and serves the data behind the [board](/for-traders/the-board.md), token pages, and dividend history. It is read-only: it informs the interface, it does not control anything. ### Trust model in one line The contracts hold the rules and the funds; the off-chain services only do work the contracts already allow anyone to do. A holder needs to trust the contracts — which are immutable and on-chain — not the operator. See [security](/protocol/security.md). div.fun is built from on-chain contracts on HyperEVM and a small amount of off-chain infrastructure that drives distribution. This page gives the shape of the system; [smart contracts](/protocol/smart-contracts.md) describes each contract's role, and [the keeper](/protocol/the-keeper.md) covers the off-chain part. ### The pieces ``` HyperEVM ┌──────────────────────────────────────────────────┐ │ Factory ── deploys ──> Token (fee-on-transfer) │ │ │ │ │ ├─ Bonding curve │ │ ├─ Reward distributor │ │ └─ Stock converter │ │ │ │ Token <── trades ──> HyperSwap V2 pool │ └──────────────────────────────────────────────────┘ │ ▲ stock orders │ │ stock back ▼ │ HyperCore spot order book Keeper (off-chain) ── drives distribution & stock flow Indexer (off-chain) ── serves the board, token pages, history ``` ### On-chain * A **factory** deploys every token and its associated contracts as cheap clones, with a fixed configuration. * Each **token** is a fee-on-transfer ERC-20. Its dividend logic, curve, distributor, and (for stock rewards) converter are wired to it at creation. * Tokens trade on a **bonding curve** before graduation and on a **HyperSwap V2 pool** after. Liquidity from graduation is burned (LP sent to a dead address, provably non-withdrawable). * For stock reward assets, a **converter** interfaces with **HyperCore**, Hyperliquid's spot order book, to acquire the stock. Everything that defines a token — its reward asset, dividend share, split, and supply — is set on-chain at launch and is immutable thereafter. ### Off-chain Two services support the on-chain contracts without having custody of holders' funds or the power to change token terms: * **The keeper** drives [distribution](/core-concepts/dividend-distribution.md): it pushes dividends to holders and, for stock rewards, drives the asynchronous HyperCore order flow. It can only do what the contracts permit — call permissionless distribution functions and place the orders the contract design allows. * **The indexer** reads on-chain events and serves the data behind the [board](/for-traders/the-board.md), token pages, and dividend history. It is read-only: it informs the interface, it does not control anything. ### Trust model in one line The contracts hold the rules and the funds; the off-chain services only do work the contracts already allow anyone to do. A holder needs to trust the contracts — which are immutable and on-chain — not the operator. See [security](/protocol/security.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. 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