The first 24/7, on-chain-priced AI index.

• Publisher and administrator: AGENTZ (Pty) Ltd.
• What is published: index levels and month-on-month returns. The index itself gives no trading or investment advice.
• Intended users: licensees building products or data services on the indices (fintech apps, AI agents, structured-product and ETP issuers), and AgentZ's own strategies.
• Venue: all prices come from Hyperliquid perpetual markets, which trade 24 hours a day, 7 days a week.

Five thematic indices, a broad core index, one trading-model index, four strategies built from them, and the AgentZ Funding Rate.

US bonds are held through mkts:USBOND. Private AI and HL 10 are published as indices only; the strategies do not hold them.

• Venue: Hyperliquid core perpetuals and HIP-3 builder-deployed perpetuals.
• Price used: the hourly candle close, in USD.
• Liquidity floor: at least $1,000,000 traded a day, on average over the 30 days before inclusion.
• History floor: at least 60 days of prices before a market can join an index.
• Excluded: leveraged products (for example 3x funds) and duplicate listings of a market already held.
• Funding data: each market's hourly funding rate, used only for the strategies' cost deduction.

• Equal weight: each constituent gets the same share at each monthly rebalance, then moves with its price until the next one.
• New constituents join at the first monthly rebalance after they meet the eligibility rules (in Frontier: HYPE from April, SpaceX from May, Anthropic from August 2026).
• Removal buffer: a market joins at $1,000,000 traded a day, and is removed only when it averages below $500,000 a day at two quarterly reviews in a row.
• Maximum of 10 per index: if more markets qualify, the 10 with the most trading are held.
• Minimum of 3 per index: if an index falls below three markets, the next review adds an eligible market or merges the index into another. US bonds is the exception, as a single-market index by design.
• No leverage: each holding is valued at one times its notional.
• Strategies are reset to their fixed shares at each monthly rebalance.
• HL 10: the 10 single-company stocks with the most trading on Hyperliquid over the 30 days before each quarterly review, excluding pre-IPO companies, funds, indices and duplicate listings.
• Private AI: companies with a Hyperliquid market that are not yet listed on a stock exchange. OpenAI joins at the December 2026 rebalance, once it has 60 days of prices; live calculation of this index starts then.
• DAILY 8 is valued as the DAILY 8 model account at 0.625% risk per trade, at most 12 open trades, one per market.

1. Constituent return: the month's last hourly close divided by the previous month's last close, minus 1 (in a first month, that month's first close is the base).
2. Index return: the average of the returns of the constituents held that month.
3. Index level: starts at 1,000 on 1 April 2026 and is multiplied by (1 + return) each month.
4. Strategies: the weighted sum of their parts' returns, less funding: each part's average hourly funding over the last 45 days, times 24, times the days held.
5. Current month is shown to date and marked partial until it closes.

The thematic indices are price-return indices with no costs deducted. Values are rounded to one decimal for display only.

One number for the cost of leverage across Hyperliquid: what holders of long positions are paying, or being paid, right now.

1. Markets: every Hyperliquid perpetual, core and HIP-3, that traded at least $1,000,000 in the last 24 hours.
2. Weighting: each market's hourly funding rate is weighted by its open interest in USD.
3. Annualised: the weighted hourly rate times 24 times 365, as a percentage.
4. Published value: the average of the 24 hourly readings before 00:00 UTC each day, with separate figures for crypto (core markets) and stocks and other HIP-3 markets.

A positive rate means longs pay shorts; a negative rate means longs are paid. Readings start in September 2026.

• Delisting: the last close is held until the next rebalance, then the constituent is removed and its weight shared across the rest.
• Pre-IPO markets (SpaceX, Anthropic): on a public listing, the market's settlement price is used that month and the review decides on a replacement.
• Missing prices: the latest close in the prior 24 hours is used; beyond that, the month's return is set to 0% and logged.
• Bad prints: an hourly close more than 20% away from both neighbouring closes, and not confirmed afterwards, is treated as missing.
• Venue outage: the first close after Hyperliquid resumes is used, and the delay is noted.

Every index value, and the Funding Rate, is published once a day at 02:40 UTC, as at 00:00 UTC, and is never edited afterwards.

• Download: the full record as CSV, or JSON.
• Chained: each row carries a fingerprint (SHA-256) of its own values and the fingerprint of the row before it, so changing any past value breaks every fingerprint after it.
• Check a row: join prev_hash, day, index_key, kind, status, level, month, month_to_date_pct and constituents with a | between each (a blank field stays empty), and take the SHA-256 in hex. It must equal that row's hash. The first row starts from agentz-index-record-v1.
• Check a value: recompute it from Hyperliquid's public hourly candles with the calculation above.

DAILY 8 trades markets where the crowd is short and funding is negative. AgentZ is testing whether the same idea improves the indices slowly: a paper version of each thematic index that leans towards its least crowded constituents.

• Rule: at each rebalance, constituents are ranked by average funding over the previous 7 days. The lowest third get 1.5x weight, the highest third 0.5x.
• Paper only: starts at 1,000 on 1 November 2026 and is published daily in the public record. It changes nothing in the indices or strategies.
• Graded in May 2027, after six months, against pass rules written before the test began. A pass or a fail is published either way.

• Index committee: James Francis and an independent reviewer decide reviews and rule changes.
• Rule changes are announced at least 30 days ahead, with reasons, and are never applied to past values.
• Errors are corrected and published with a correction notice in the change log.
• Records of every value, constituent list, price input and change are kept for at least 5 years.
• Conflicts: constituent decisions follow the eligibility rules only, never AgentZ's own positions.
• Standard: these rules aim to follow the IOSCO Principles for Financial Benchmarks.

• Back-test: 1 April to 31 October 2026, calculated with these rules on stored Hyperliquid prices. Constituents were chosen in October 2026 with knowledge of past performance, so the back-test is likely to flatter the indices.
• HL 10 and Private AI back-tests: both lists were set in October 2026 from what trades most today, so their back-tests are especially likely to flatter them.
• Live record: from 1 November 2026 (Private AI from 1 December), published daily and never revised except for corrections.
• DAILY 8: April to September 2026 is before trading costs; from October 2026 a 0.15% cost per trade is deducted.
• Not advice: the indices measure markets; they are not a recommendation to buy or sell. Past results don't guarantee future returns.