How Trojan works

1
Launch
Name your coin and sign once. It gets a 1B supply, all in its own pool against HYPE, with nothing held back.
2
Trade
Every coin starts at about 30 HYPE market cap. For the first 5 minutes no wallet can hold over 1% of supply.
3
Migrated
When a pool holds 100 HYPE, anyone can migrate the coin. It's recorded on-chain and trades on in the same pool.

Fees: Every trade pays 1%. The coin side is burned. On the HYPE side, 70% goes to the creator and 30% to the protocol.
Liquidity: The launchpad owns every pool position and has no way to remove it, so liquidity stays locked for good.
First buy: A creator can buy up to 5% of supply in the launch transaction, before anyone else.
Launch fee: A launch costs 0.01 HYPE, which helps keep spam off the feed.

Treasury trading

Optional for every coin. The creator decides.

Trading share: Up to 20% of the treasury can trade. The amount is set when a cycle starts.
Protected reserve: At least 80% stays in a separate reserve. It can never be traded, used as collateral or used to cover a loss.
Cycles: Trading runs in 72-hour cycles. Positions still open at the end count toward the next cycle's limit.
No top-ups: Losses can't be topped up mid-cycle, and no collateral can be added to a losing position.
Every trade is capped: Each position has its own collateral and needs a stop-loss. Leverage is 5x at most.
Pause: 2 losing cycles in a row pause trading for 72 hours.
Buybacks: Profit after fees buys back the coin in 12 small chunks over 6 hours, and the coins are burned. A cycle that doesn't make money buys nothing.
Where trades run: Positions are longs or shorts on HYPE, opened on Hyperliquid. Stop-losses sit on Hyperliquid itself, so they trigger even if Trojan is down.

Before Elysium's public launch, transactions land in batches about every 3 hours. Read the risks