XYZ100 Index

XYZ100 is an on-chain way to trade the biggest names in the US stock market. It tracks the S&P 100, the hundred largest American companies, but rather than being an index fund it is a perpetual-futures market that lives entirely on the Hyperliquid blockchain, letting traders take leveraged long or short positions on the group around the clock. It was deployed by trade[XYZ], the perpetuals arm of a Hyperliquid tokenization project, and holds a place in crypto history as the first market launched under HIP-3, the mechanism that lets outside teams create their own on-chain futures markets. It grew quickly after its 2025 debut, drawing heavy volume and open interest. This is not a registered index or a stock fund but a decentralized derivative, so it carries the mechanics and risks of a perpetual contract, including funding rates and liquidation, rather than the buy-and-hold nature of a traditional index product.

On MyRWA, XYZ100 trades tokenized across 1 on-chain venue - see the listings below.