Hypercall announced vault and liquidity plans that include distributing 1 million SYN each month to market makers. According to Foresight News, Hypercall is an options trading platform in the Hyperliquid ecosystem under Synapse.

The first vault, SLP, is designed as an options-focused version of HLP. Users can deposit USDC for a share of a market-making account that quotes Hypercall options and hedges positions on Hyperliquid. Potential returns include bid-ask spreads, a share of market-making incentives, basis hedging, yield on idle funds and taking on liquidated positions. Risks include adverse selection, hedging costs and tail events. SLP also plans to buy options box spreads to earn fixed-rate returns on idle funds.

The market-maker incentive program will distribute 1 million SYN monthly according to each market maker’s share of trading volume, with a daily leaderboard. SLP will be eligible under the same rules. Hypercall also plans to introduce a covered-call vault that holds tokenized xStocks shares and sells one call option each week, typically at a strike price about 5% above the current price. The option premium is paid upfront.