Going live
What happens between ticker approval and the first trades on a Teams market.
After the partnership agreement is signed and the team funds the HIP-3 deploy auction (coordinated through the partnership Telegram group), Perps.fun acquires the ticker and lists the market on Hyperliquid.
Perps.fun configures the market using the parameters in the approved proposal: margin and leverage, funding configuration, OI cap, market metadata, and the partner fee recipient address. The oracle pipeline (SEDA data through Pyth's HIP-3 Relayer) is started and confirmed stable before trading opens.
Once oracle prices are flowing and the market is configured, trading opens on Hyperliquid. The market URL, the deployment transaction hash, and the live oracle configuration are posted to the partnership Telegram group.
After launch
Perps.fun monitors every new market closely for the first week, tracking oracle behaviour, funding and margin against actual order flow, and OI utilisation. Daily snapshots go to the partnership Telegram group during this period; weekly cadence after that.
Operational changes after launch (margin tweaks, funding multiplier changes, OI cap adjustments) go through the same dashboard request and quant review path as the original proposal.
Next
Fees and revenue covers how the deployer fee share routes to the partner address.