According to CoinMeta, Volmex has launched a perpetual contract for the Bitcoin Implied Volatility Index (BVIV) on Hyperliquid. This contract is based on option data from Deribit and OKX, reflecting traders' expectations for Bitcoin's volatility over the next 30 days, without reflecting the direction of the spot price. The current reading of BVIV is in the mid-to-high range of over 30 points. Each index point of this contract corresponds to a settlement of 1 USDC, and it adopts a per-position margin model. It supports a maximum leverage of 5 times, as well as an hourly funding fee rate and a limit on the number of open contracts at the time of launch.