Introduction

What is Paragon?

Paragon transforms market indices into tradable instruments on Hyperliquid. Trade the benchmarks you already follow—TOTAL2, BTC.D, 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. Yet until now, there's been no way to directly trade them.

Paragon bridges the gap between analysis and action.

What You Can Trade

Index	Description
TOTAL2	Total crypto market cap excluding BTC
BTC.D	Bitcoin's share of total market cap
OTHERS	Total market cap excluding BTC and ETH

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
Understand the value prop	Why Paragon?
Learn trading mechanics	Trading Overview
View available markets	Available Markets

Built on Hyperliquid

Paragon leverages HIP-3 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