Last Updated: 21 June 2025
Welcome to Sisyphus Labs (“Sisyphus”, “we”, “us”, “our”) and the tHLP protocol—an on-chain wrapper around Hyperliquid’s HyperLiquidity Provider vault (“HLP”). These Terms of Service (“Terms”) govern your access to and use of our decentralised application, smart contracts, and any associated interfaces, including the Sisyphus Labs front-end at app.sisyphuslabs.xyz (collectively, the “Services”). By interacting with tHLP smart contracts or any related interface, you agree to be bound by these Terms. If you do not agree, do not use the Services.
THESE TERMS CONTAIN A BINDING ARBITRATION CLAUSE AND CLASS-ACTION WAIVER (SEE SECTION 15). IF YOUR JURISDICTION PROHIBITS ARBITRATION, SECTION 15 WILL APPLY INSTEAD.
Sisyphus Labs is an open-source development studio deploying non-custodial smart contracts that enable users to mint tHLP tokens—ERC-20 receipts representing a share of deposits in Hyperliquid’s HLP vault. For support, email support@sisyphuslabs.xyz.
By calling the tHLP contracts, connecting a wallet, or otherwise using the Services, you confirm that you have read, understood, and accept these Terms and any policies referenced herein.
Certain integrations (e.g., Sisyphus Lend, LayerZero bridging) may impose additional terms; those terms are incorporated herein by reference.
You must be ≥ 18 years old and legally permitted to use decentralised finance in your jurisdiction.
Access occurs directly via self-custodied wallets (e.g., Privy-based wallets on HyperEVM). You are solely responsible for safeguarding private keys and seed phrases.
tHLP contracts are immutable and non-custodial; Sisyphus never takes possession of user assets.
Deposits of USDHL, USDT0, wHYPE, UBTC, or UETH are routed via smart contracts to one of several sub vaults. Funds are bridged to HyperCore, swapped to USDC, and deposited into HLP at least once every 24 hours. In exchange, you receive tHLP tokens representing your proportional share.
Withdrawals burn tHLP and return assets in USDHL (default) or another accepted stablecoin. Up to 20 % TVL is available instantly; larger batches settle daily. Smart-contract logic is open-source and executed autonomously.
The protocol employs off-chain price oracles and automated limit orders; oracle failure, MEV, or network congestion could cause slippage or losses. Use the Services only if you understand and accept these risks.
A 10 % performance fee on realised HLP profits is minted as new tHLP to the Sisyphus treasury address. There are no management, deposit, or withdrawal fees.
tHLP is natively bridgable via LayerZero. Bridging is subject to relayer availability and network risk; Sisyphus is not liable for losses due to bridge hacks or downtime.
Although audited, tHLP contracts may contain vulnerabilities. By interacting, you waive any claim against Sisyphus for losses arising from contract exploits.
All data and yield projections are informational. Consult qualified advisers before making financial decisions.
Sisyphus is not a counter-party to trades on Hyperliquid or any integrated DEX. Disputes with other users must be resolved directly. To the extent permitted by law, you release Sisyphus and affiliates from claims arising out of such disputes.
The protocol relies on Hyperliquid, LayerZero, Circle and other external systems. Your use of those services is subject to their terms; Sisyphus disclaims liability for their performance.
The only protocol-level fee is the 10 % performance fee described in Section 5b. Gas costs and DEX swap fees are borne by users.
You certify that you are not on any sanctions list and are not accessing the protocol from a sanctioned region.
Sisyphus publishes the tHLP smart contracts under the MIT Licence. Front-end code and branding remain the property of Sisyphus unless otherwise open-sourced.
Sisyphus’s aggregate liability shall not exceed US $100 or the amount of protocol fees you have paid in the past 12 months, whichever is greater.
You agree to indemnify Sisyphus for claims arising from your use of the Services or violation of these Terms.
Contact support@sisyphuslabs.xyz to attempt informal resolution.
Except where prohibited, disputes will be resolved by binding arbitration in California, USA.
You waive participation in class actions.
These Terms are governed by California law.
We may amend these Terms at any time; continued use constitutes acceptance of the revised Terms.
If any provision is unenforceable, the remainder remains in effect.
These Terms constitute the entire agreement between you and Sisyphus regarding the Services.
You acknowledge that you have not relied on any representations except those set forth herein.
Questions? Email support@sisyphuslabs.xyz.