> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyperpad.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# The Core Rail

> A HIP-1 order-book crowdfund where funders are the first buyers. Coming in Phase 2.

<Frame caption="The Core rail — blurred and locked until it ships on mainnet.">
  <img src="https://mintcdn.com/hyperpad/XkLcmdS2FV_2hCfN/images/core-phase2.png?fit=max&auto=format&n=XkLcmdS2FV_2hCfN&q=85&s=2dec0180d2bc14f4c15eeb181c22e61d" alt="HyperPad Core rail behind the Phase 2 lock" width="2640" height="1640" data-path="images/core-phase2.png" />
</Frame>

## What's coming

The EVM rail launches into an AMM pool. The Core rail launches into a real **HyperCore order book** —
and the people who funded it are the first to hold the token.

<CardGroup cols={2}>
  <Card title="Funders are the buyers" icon="users">
    Pool USDC into escrow. When the token deploys, **HIP-1 genesis drops straight into funders'
    wallets** — no claim queue, no custodian handing it out.
  </Card>

  <Card title="Earlier + bigger pays off" icon="chart-line-up">
    A published, continuous **bonus curve** rewards conviction. Your allocation is transparent before
    you commit.
  </Card>

  <Card title="Non-custodial escrow" icon="shield-halved">
    Your USDC never touches an operator wallet. It's refundable until the token is **provably live**
    on HyperCore.
  </Card>

  <Card title="A book, not a curve" icon="layer-group">
    The market is the **HIP-1 spot order book**; HIP-2 Hyperliquidity seeds it with tight, two-sided
    liquidity from block one.
  </Card>
</CardGroup>

## How it stays safe

The actual launch on HyperCore is run by an operator — but you never trust them with your money.
Your USDC sits in **non-custodial escrow** the whole way, the operator is **only paid once the token
is provably live**, and a bond keeps them honest. Either the token ships and funders hold it, or
everyone refunds — nothing in between.

<Note>
  Want the deep mechanics — the deploy auction, the bond, the challenge window? They'll land here when
  the Core rail opens. For now, go [launch on the EVM rail](/evm/launch-a-token).
</Note>