What are mAssets?
mAssets are native HIP-1 Spot Tokens deployed on HyperCore. They represent 1:1 backed tokenized versions of real-world and digital assets. Unlike wrapped ERC-20 tokens on other L2s, mAssets are native primitives of the chain.Key Characteristics
Native Execution
HIP-1 tokens live directly on HyperCore (Layer 1). They are not smart contract wrappers but native primitives.
Sub-second Settlement
Trades settle with same latency as native USDC/HYPE transactions — under 0.2 seconds.
Full Composability
Compatible with the entire Hyperliquid ecosystem including potential margin and collateral integrations.
1:1 Backed
Every mAsset in circulation is backed by verified collateral locked in source chain vaults.
Asset Standards (HIP-1)
All Melt assets are deployed following the HIP-1 native token standard. This means:- Tickers are acquired through Hyperliquid’s HIP-1 auction mechanism (e.g.,
mGOLD,mTSLA,mNVDA) - Token parameters (decimals, display name, max supply) match underlying asset specifications
- Trading occurs on the native CLOB — not AMMs or synthetic markets
Total Return (Dividends)
mAssets representing dividend-paying securities provide full economic exposure to corporate actions and income distributions through an Accumulating (Net Total Return) model.How It Works
Rather than distributing cash dividends, Melt uses the industry-standard accumulating model:- Dividend event occurs — the underlying stock pays a dividend
- Issuer reinvests — the regulated issuer (e.g., Ondo, Backed) receives funds, deducts withholding taxes, and reinvests net proceeds into the collateral pool
- Token appreciates — since mAssets are 1:1 representations, they inherit this value accretion automatically
Example
| Timeline | Value |
|---|---|
| Initial state | 1 mNVDA = 1 NVDA share |
| After dividend | Issuer reinvests net dividend on Ethereum |
| Post-dividend | 1 mNVDA = 1.01 NVDA shares |
Benefits
- Zero maintenance — no need to manually claim dividends or pay gas fees
- Compound growth — dividends automatically compound into positions
- Tax efficiency — yield captured as unrealized PnL (price appreciation) rather than cash distribution
You do not receive a separate “check” for dividends. Instead, your token becomes “heavier” in value over time, automatically capturing the Net Total Return of the asset.