# Introduction

## What is Paragon?

Paragon transforms market indices into tradable instruments on Hyperliquid. Trade the benchmarks you already follow-BTC.D, TOTAL2, OTHERS-with up to 20x leverage.

## The Problem

Traders reference market-cap and dominance indices every day. These benchmarks shape narratives, inform macro views, and drive trading decisions-but have never been directly tradable.

**Paragon bridges the gap between analysis and action.**

## What You Can Trade

| Index  | Description                              |
| ------ | ---------------------------------------- |
| BTC.D  | Bitcoin's share of total market cap      |
| TOTAL2 | Total crypto market cap excluding BTC    |
| OTHERS | Total market cap excluding top 10 assets |

## Why Paragon?

* **Familiar tickers** - The same indices you already track on TradingView
* **Native Hyperliquid listing** - Trade on app.hyperliquid.xyz where your capital sits
* **Standard perp mechanics** - Same margin, liquidation, and order types you know
* **Transparent methodology** - Published index constituents and weightings

## Quick Links

| Action                    | Link                                               |
| ------------------------- | -------------------------------------------------- |
| Start trading             | [app.hyperliquid.xyz](https://app.hyperliquid.xyz) |
| Understand the value prop | [Why Paragon?](/about-paragon/why-paragon.md)      |
| Learn trading mechanics   | [Trading Overview](/trading/overview.md)           |
| View available markets    | [Available Markets](/markets/available-markets.md) |

## Built on Hyperliquid

Paragon leverages [HIP-3](/protocol/hip-3.md) to deploy perpetual markets directly on Hyperliquid's infrastructure-inheriting its low-latency matching, deep liquidity, and battle-tested margin system.

→ [Learn about HIP-3 Integration](/protocol/hip-3.md)


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.paragon.trade/about-paragon/readme.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.