RYex - HackQuest

Videos

Tech Stack

Solidity

Description

When a trader opens a perp, the margin behind it is locked. It backs that one position and nothing else until the trade closes. Spot collateral gets reused across DeFi; perp margin never had a way to. RYex gives it one. The trader mints an rToken against the open position and uses that capital elsewhere, as collateral, liquidity, or a lending deposit, without closing the trade.

This isn't theoretical. 876 traders doing $4.8B in volume on Hyperliquid and GMX already run this by hand across perps, lending, and AMM.

What makes it more than capital efficiency is where it reaches. A perp exists on assets that have no onchain spot, commodities, equities, RWAs, so RYex can bring that exposure onchain as usable, composable capital, and support products that weren't possible before, like delta-neutral funding yield on assets spot-based vaults can't touch.

https://x.com/RYex_finance
https://ryex.finance/

Progress During Hackathon

- Isolated collateral vault per user and market (deployed as a clone) - Open position on GMX from inside the vault - Mint an asset-denominated rToken against the live position up to a per-market max LTV - Repay and close to burn the rToken and unwind the position - Permissionless liquidation once a vault crosses its liquidation threshold - Async GMX order handling as a state machine, with stuck-order timeout recovery - Oracle-priced mint, liquidation, and redemption - Bad-debt resolution with no socialized loss onto other vaults - Per-(user x market) risk isolation enforced by clones - Admin limited to market registration, params, and pause, with no fund-withdrawal path - -Swap rTokens to USDC and back on the rToken AMM (Uniswap v3) deployed to Arbitrum Sepolia

Fundraising Status

Self-funded to date, raising pre-seed.