Wall Street worked out decades ago that most people would rather own a theme than pick the winners inside it. The ETF turned that into a single purchase and became one of the biggest products in finance. On-chain markets never got their version. On Elysium today, trading a narrative still means buying it one coin at a time, and the move is often over by the time you've finished.

Yieldex is that version. A Yieldex ETF holds two to eight coins at fixed weights, and a single token represents all of them. In any ETF that holds wrapped HYPE, one transaction in HYPE buys the whole position, with no fund manager and no listing process in the way. As far as we can find, these are the first ETFs on Elysium you can redeem for the coins inside, so every share has real coins behind it.

What an ETF can hold

An ETF can hold almost anything that trades on Elysium, which opens up positions that didn't exist before. Trenches, the launch ETF, holds the chain's largest memecoins alongside wrapped HYPE. You pay in HYPE, confirm once, and you hold all of it.

Nobody gates what gets an ETF. When a new narrative starts moving, anyone can launch one for it in a single transaction, the same day. See Create an ETF.

Every trade pays holders

An ETF is also a market. Every swap through it pays a fee, and the holders' part stays in the ETF, so each share claims more over time. There's nothing to stake and nothing to claim. Those are your rewards.

Those fees also make the ETF deeper, deeper ETFs give better prices, and better prices attract more volume. That's the flywheel. It needs people trading to turn, and the more Elysium trades, the harder it works.

What you can do

Deposit with HYPE, if the ETF holds WHYPE, or with any coin it holds. HYPE takes one transaction, and a token needs an approval first. See Deposit.
Withdraw into every coin in proportion, or into a single coin. See Withdraw.
Swap one of an ETF's coins for another at the ETF's price. See Swap.
Create your own ETF from any coins, with your own weights. See Create an ETF.

The token

$YIELDEX is the protocol's token. A quarter of every swap fee, in every ETF, goes to buying it on the market and burning it, and another quarter builds the protocol's reserve. See $YIELDEX.

How it's built

Yieldex runs natively on Elysium, Hyperliquid's L2, and prices everything in HYPE. The protocol has no bridge and no outside price feed. The contracts can't be upgraded, no role in them can move an ETF's funds, and proportional withdrawals keep working when trading is paused. A coin's own issuer may still be able to take that coin from any holder, ETFs included. Who controls what lists what the admin can and can't do.

Where to go next

If you're new, follow the Quickstart.
To see what's available, read about the launch ETF.
If you're building on Yieldex, start with Contracts and Integrate.