SOGO Terminal is a non custodial Hyperliquid perpetuals terminal that runs inside Telegram. A Genesis seat pays you a share of the exchange builder fee on every trade your members route through your link. There is nothing for them to buy and nothing for you to sell.
You already collect on volume. A code here, a builder deal there, a revenue share on a terminal you do not own. Every one of those rates was decided by someone who is not you, and none of them improve because you sent more. You are a line item in someone's partner spreadsheet.
The traders are theirs. The attribution is theirs. If the terms move, you find out afterwards, in an announcement. Nothing you have built over the past two years compounds into a better rate, because there is no ladder to climb.
Your member opens SOGO in Telegram through your crew link and connects their own wallet. Funds never move to you or to us.
They trade perps on Hyperliquid. The exchange charges a builder fee on the notional and attributes it to your crew at execution time.
A fixed 2.5bp of that fee goes into the partner pool. Your tier share of the pool accrues to you and is paid out from it.
Nobody buys anything. Nobody deposits with you. The revenue source is an exchange fee on trades that already happen. If your members stop trading, it stops. There is no second mechanism holding it up, and that is deliberate.
What cannot be verified, and by whom. Hyperliquid reports builder rewards at the wallet level only. Per crew attribution does not exist on chain, for us or for any other terminal, which means the split between crews is settled by our records rather than by the protocol.
What we run instead is a daily reconciliation that fails closed, comparing everything claimed against the on chain total on the builder wallet. That proves solvency. It does not prove your individual share, and we are not going to imply otherwise. Anyone who tells you their per crew numbers are on chain verifiable has not read the docs.
Both columns use the same 2.5bp partner pool on the same volume, so this is a like for like comparison of shares. These are arithmetic illustrations of the published formula, not projections, forecasts, or promises of income, and either column can be zero. Formula: members x daily notional x 0.00025 x share.
Everyone who joins after Genesis starts at Operator 40% and climbs from zero. A Genesis seat enters at Syndicate 55% and that becomes your permanent floor, including in a month where your crew barely trades. Tiers advance on cumulative crew volume, and volume from operators you introduce counts toward your own threshold.
The crew lane is 10bp. The direct lane is 2.5bp and it is open to anyone, permanently, with nothing withheld from them. So the crew lane costs your members 7.5bp more, and you should assume the sharpest person in your group works that out on day one.
One more thing you would find out anyway. 10bp is the maximum builder fee Hyperliquid permits on perps. The crew lane sits at that ceiling, and it sits there so that the partner pool is large enough to pay a majority share to you rather than a token cut. We are not going to describe the ceiling as a discount.
Against a member paying no builder fee today, the crew lane adds the full 10bp. On $10,000 of daily notional that is roughly $300 per member per month. On $40,000 it is roughly $1,200. Expect your highest volume members to work that out and route direct at 2.5bp, where you earn nothing. Plan your crew around the members for whom your room is worth more than the spread, and price your expectations accordingly.
So the honest question is not whether the crew lane is cheap, because it is not. It is whether what you give your members is worth 10bp to them. A room that calls entries, manages risk, and gets people out of bad trades is worth far more than that to the people in it. A room that forwards charts is not. You already know which one you run, and this document is not going to talk you out of that answer.
Every partner deal you have ever been shown displayed the upside and hid the price. This one leads with the price, because you are going to find it anyway, and the version where you find it after you have promoted us is the version where you lose your group's trust and we lose you.
If your members do not think what you give them is worth 7.5bp, they will route direct and you will earn nothing. That is the correct outcome, and it is the mechanism that keeps this honest for everyone in it.
The dominant Telegram terminals on Hyperliquid charge in the region of 5bp and run clan leaderboards. Leaders earn points. Points may convert to a token after a generation event that has not happened yet. You are underwriting somebody else's launch with your distribution, and taking payment in a currency that does not have a price.
We are more expensive for your members. 10bp against roughly 5bp is not a rounding difference and we are not going to dress it up as one.
What you are actually deciding is this. Would you rather your members pay 5bp less while you are paid in a currency that does not exist yet, or pay 5bp more while you are paid in fees that settle today. Both of those are real trades. Only one of them has ever paid anybody's rent.
Rates cited for other products are their published figures as at the date on this document, and we may be out of date. Check them yourself before you decide anything, and hold us to the same standard.
Genesis seats are not reserved for people who already run a paid room. If you have an audience anywhere, or you are prepared to build one, the seat works identically. Your crew is defined by who uses your link, not by who is already in your Telegram.
This is not a token offer. No presale, no allocation, no sale of any instrument is offered in this document, and none will be discussed on the intro call. If that is the conversation you were hoping for, this is the wrong room.
Revenue here comes from one source only: exchange builder fees on trades that are actually executed. Not from new member deposits. Not from anyone buying in. Not from anyone entering after you. That constraint is the entire reason a seat is still worth holding in month 12.
Numbered 001 to 010. Closed permanently once filled, and not reopened later under a different name.
A seat is reserved on a 15 minute call and nothing is signed on it. Your link is issued once crew attribution verification completes, because we do not hand out links we have not tested against real fills.
Ask the things you would ask if you assumed this was a scam, because those are the only questions worth 15 minutes. If the answers hold, you take a seat. If they do not, you have lost a quarter of an hour and learned exactly how a builder fee works.
@tomsogo