# Docs Home

any.fund is the product layer on Hyperliquid. It packages on-chain perpetual-futures exposure into ownable ERC-20 products with deterministic rebalancing, transparent history, and explicit operational controls.

This docs tree is the public source of truth for:

* users evaluating what they are buying
* creators deciding how to structure a product
* builders integrating product, trust, and history data

If you are looking for internal engineering, deployment, or operator documentation, use the repository's internal `docs/` tree on GitHub instead. This public docs section is intentionally narrower and only covers product behavior, trust model, risks, and integration surfaces that should be visible to external readers.

## Start Here

* [What is any.fund?](https://docs.any.fund/getting-started/what-is-any-fund)
* [Why use products?](https://docs.any.fund/getting-started/why-use-products)
* [Product lifecycle](https://docs.any.fund/getting-started/product-lifecycle)
* [Rebalancing, NAV, and fees](https://docs.any.fund/getting-started/rebalancing-nav-and-fees)

## For Risk Review

* [Trust model and controls](https://docs.any.fund/risks-and-controls/trust-model-and-controls)
* [Product risks](https://docs.any.fund/risks-and-controls/product-risks)
* [Launch constraints](https://docs.any.fund/risks-and-controls/launch-constraints)

## For Builders

* [Builder overview](https://docs.any.fund/for-builders/builder-overview)
* [Product creation parameters](https://docs.any.fund/for-builders/product-creation-parameters)
* [Data surfaces and API](https://docs.any.fund/for-builders/data-surfaces-and-api)
* [Contracts and networks](https://docs.any.fund/for-builders/contracts-and-networks)

## What any.fund Is

At the simplest level, a product on any.fund is a tokenized exposure rule:

* a set of assets
* a direction for each asset
* a target leverage
* an operational policy for rebalancing, settlement, and fees

Hyperliquid remains the execution venue. any.fund is the product layer that packages those positions into something users can own, compare, and inspect without manually running the underlying strategy.

That distinction matters:

* Hyperliquid gives you raw execution primitives.
* any.fund gives you a declared product with a lifecycle, disclosures, and public history.

## What This Docs Surface Optimizes For

* Precision over marketing language
* Clear disclosure of controls and failure modes
* Stable navigation for both first-time users and technical readers
* Portability across docs platforms by keeping content in plain Markdown inside the repo

## Core Ideas

### Product-first exposure

The product is the unit a user buys. In the current launch surface, that often means a leveraged fund behavior, but the broader model is packaged exposure on top of Hyperliquid's perp markets.

### Self-custodied but not trustless in the simplistic sense

Users hold ERC-20 shares in their own wallet, but the protocol still has explicit control surfaces. Creator-side parameters finalize over time, while factory-level emergency and upgrade powers remain part of the current design.

### Deterministic operations

Products do not "freestyle." They follow declared weights, directions, and leverage targets, then rebalance back toward those targets through a public on-chain function.

### Inspectable history

Product pages and APIs expose rebalances, NAV history, positions, fills, funding, ledger activity, trust summaries, and unified audit trails. The goal is to make behavior visible instead of implied.

## Read Next

* [Product types](https://docs.any.fund/products-and-mechanics/product-types)
* [Settlement and claims](https://docs.any.fund/products-and-mechanics/settlement-and-claims)
* [Status system and emergency behavior](https://docs.any.fund/products-and-mechanics/status-system-and-emergency-behavior)
* [Transparency and history](https://docs.any.fund/products-and-mechanics/transparency-and-history)