About IIXX
IIXX is a trading desk on Hyperliquid. Our strategies run around the clock, and anyone can invest alongside them through a public vault on Lagoon.
The desk
Systematic strategies that trade around the clock, sized by rules and bounded by hard limits.
Built on Lagoon
The vault runs on Lagoon v0.6.0, the open-source vault standard, audited by Nethermind Security and Trail of Bits. Read the audits ↗
Your custody
Your shares stay in your own wallet. The capital sits in a Safe the desk can trade but never withdraw, and fees are capped in code.
The Vaults
Two vaults. One standard.
Choose how much market risk you carry. Both vaults run on Lagoon with the same custody, fees and daily settlement.
Close to market-neutral. Built to hold steady.
Long and short positions are paired so that most price moves cancel out. Returns come from funding and spreads rather than from where the market goes.
Not fully hedged. Some market exposure remains, and capital is at risk.
Our systematic book, run at full size.
The strategies behind our record at our highest risk setting. Larger swings in both directions in exchange for a higher expected return.
Directional. Drawdowns of 30% or more are possible, and capital is at risk.
- Currency
- USDC
- Venue
- Hyperliquid · HyperEVM
- Fees
- 2% a year · 20% of new highs
- Liquidity
- Daily, 00:00 UTC
- Custody
- Safe behind a timelock
- Standard
- v0.6.0
The Record
Sixteen months, fill by fill.
Our Mid settings, simulated over every month for which Hyperliquid publishes its execution record. An order only counts as filled when a real trade on the venue would have hit it.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +10.30† | +14.77† | +7.21† | +12.12† | −1.85† | +2.69† | +8.67† | +3.29 | +2.16 | +8.81 | +3.44 | +2.83 | +103.5† |
| 2026 | +4.43 | +6.32 | +2.45 | +1.33 | +3.17 | +8.99 | +0.94 | +0.88 | +0.08* | +32.1 |
Backtest, not live results. Mid settings on 22 Hyperliquid markets, one continuous run, net of trading fees and before the vault's 2% and 20% fees. The fill-verified test runs from 27 July 2025 to 10 September 2026; * marks a part month. † January to July 2025 come from our longer 28-month test, which counts an order as filled whenever the price traded through it. That model overstates returns by roughly 1.5×, so read those months for shape, not size. Over a longer 28-month test that includes the August 2024 sell-off, the worst intraday drawdown was 16.8%. The vault's live on-chain record will replace this table once it is trading. Past performance, simulated or real, does not guarantee future results.
Custody
Permission to trade. Nothing more.
The assets sit in a Safe owned by a timelock, so every change is public and must wait before it can run. Our trading key can place trades and set leverage, and it cannot move funds.
The assets
Held in a Safe whose only owner is a timelock. Every change is announced on-chain and must wait before it can run.
The trading key
The desk's key can place trades and set leverage. It cannot withdraw or move funds anywhere.
The breaker
A fall of more than 30% between valuations halts new valuations until it has been reviewed.
The guard
Any move of more than 20% between valuations is held until a separate guardian signs it off.
The vault
Built on Lagoon v0.6.0, an audited, open-source vault standard, deployed through Lagoon's official factory.
Contact
Write to the desk.
The vault is open to anyone through Lagoon, and deposits come straight from your own wallet. To get started, or with a question first, leave a note and a member of the desk will reply.