What if you could get the sharp upside of an option without having to pick a strike or expiry?

With Paragon’s HYPE squared Power Perp, a long position gains exposure as HYPE rises and sheds it as HYPE falls.

US options volume has more than tripled since 2017. Think of a trader buying NVDA calls because they expect a big rally but have no strong view on when it happens.

With a squared NVDA perp, a 20% rally in the stock would translate to a 44% gain. If NVDA doubled, the position would quadruple. The upside is uncapped just like a call. But there’s no expiry to take you out if the rally takes an extra quarter.

HYPE² is the first test. If @tradeparagon can build a deep market for convexity alongside each major perp, a trader whose first instinct today is to open an options chain might open Hyperliquid first.

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