Hypercall, built by the Synapse Protocol team on Hyperliquid's infrastructure, launched its mainnet on June 1, 2026 with SpaceX (SPCX) options, real USDC settlement, deposits, and withdrawals. The platform calls it the first on-chain options market for a private-company equity.
Contracts are defined-risk: buyers lose at most the premium paid, with no liquidations. Trading runs 24/7 on desktop and mobile. Supported strategies include long calls, long puts, call spreads, straddles, risk reversals, and iron condors.
SYN, Synapse Protocol's token, gained more than 23% on June 25 and has nearly tripled over the trailing seven days, per KuCoin's June 26 daily market summary. The surge followed a June 25 post from @SynapseProtocol: "Private SpaceX exposure finally has an options market. SPCX options are live on mainnet." The post drew wider attention to the launch nearly four weeks after the mainnet went live. The team had previously operated a cross-chain bridge network before pivoting to options on Hyperliquid.