BagPerps
Tag a bag

How it works

Every BagPerps coin is tagged to one Hyperliquid market, long or short, 1x to 5x. Its trading fees fund that position, in an account of its own. Here's the whole loop.

1

Pack

Launch your coin on pump.fun from your own wallet: a name, a ticker, a picture. One payment, and you get every unused lamport back.

2

Tag

Pick a Hyperliquid market, long or short, and 1x to 5x. It's printed on the coin's tag and it never changes, so a buyer always knows what they're holding.

3

Fly

Every trade pays pump.fun's creator fee. All of it goes to the coin's own wallet, then across to its own Hyperliquid account (less the network and bridge fees), where it opens that position. Anyone can check both.

The rules

What the engine does, every minute, for every coin.

  1. All of the creator fee goes to the coin's engine wallet. The split is locked by pump.fun at launch, in the same transaction that creates the coin. The launcher keeps none of it, and neither does BagPerps.
  2. The fees are bridged to the coin's own Hyperliquid account through Relay once they're worth $5. Each coin has its own account; no coin's money sits with another's.
  3. The position opens once the account can carry Hyperliquid's $10 minimum order: isolated margin, the side and leverage on the tag, and more fees add to it.
  4. If the market moves past the liquidation line, Hyperliquid closes the position. Whatever is left stays in the account, and the next fees open a fresh position at the price then.
  5. When the account is worth 20% more than everything the fees put in, the engine closes the position, brings the profit back to Solana as SOL and spends it buying the coin, in five buys a minute. The stake reopens at the price then. Bought coins stay in the engine wallet and are never sold.
  6. Fees never buy the coin. Only profit does. A position that's down is never "taken"; it stays open until it recovers or is liquidated.

Questions

What can a coin be tagged to?

Any market on Hyperliquid's main exchange (crypto perps) or its builder exchange "xyz" (stocks such as NVDA and TSLA, gold, oil, the S&P 500). A few markets cap leverage below 5x, and the launch page won't offer more than they allow.

What does 1x mean?

A 1x long holds exactly what the fees put in, so it follows the market one to one and can't be liquidated unless the market goes to zero. A 1x short can still be liquidated if the market roughly doubles.

When does the position open?

Once the fees in the account can carry Hyperliquid's $10 minimum order. Until then the coin's tag says how much has arrived. A new account's first deposit also pays Hyperliquid's 1 USDC activation fee.

Who holds the fees?

The BagPerps engine does, in two addresses made for that coin alone: its Solana engine wallet and its Hyperliquid account. Both are on the coin's page, and anyone can check them on Solscan and on Hyperliquid's explorer.

Does a winning position make the coin go up?

Only through the buys. The position's profit sits in its account until it's 20% above what the fees put in; then the engine takes it and buys the coin with it. A position moving your way doesn't move the coin's price by itself.

Can the tag be changed later?

No. Market, side and leverage are fixed at launch, so a buyer always knows what they're holding.

Which wallets work?

Any Solana wallet that supports the Wallet Standard: Phantom, Solflare, Backpack. You only need one to launch; browsing works without one.