Overview

What it is

Dark HIP-3 is a batch auction for HYPE and Elysium tokens. Orders are committed as hashes, so nobody can see a side, a size or a limit while the batch is open. The batch price is fixed from the coin's launch pool on Ascend before anyone reveals, and every buy and sell that crosses in the batch gets that one price.

A batch lasts 300 blocks, about 30 seconds. Everything runs onchain: there is no matching server and no operator who sees orders first.

The flow

You deposit HYPE or tokens into the pool contract once. Each order is a commit (a hash and a 0.01 HYPE bond), then a reveal in the last 5 seconds of the same batch. After the batch ends, anyone can settle it; the keeper does it for every batch that has commits.

Who it is for

The holder who needs to sell a large position in a thin coin without the chart, and the bots, seeing it first. On Elysium there is no public mempool, but the sequencer orders transactions by priority fee, so a visible order can still be overtaken by someone who pays more. A sealed order gives them nothing to overtake.