Docs
The score
Real shares count double. Perp notional counts up to a cap. Past the cap, additional notional adds nothing.
The formula
A wallet's score on a ticker is measured in share-equivalents:
Tokenized shares held on Robinhood Chain count twice. Perpetual notional on Hyperliquid converts to share-equivalents at the current price and stops counting at a per-ticker cap. The cap scales with the ticker's liquidity and is printed on every ticker page.
Why the cap
Without a cap, the crown goes to whoever takes the most leverage, and a liquidation mid-reign vacates it. With the cap, notional moves a wallet into range and shares decide the crown. Past the cap, the score moves only by settling equity on-chain.
wallet A · $100k in shares
score 934 · all of it counts, twice
wallet B · $100k margin at 10x
score 289 · everything past the cap counts for nothing
Worked example
The NVDA crown: 1,840 real shares at $214.40 count as 3,680. The CEO's $310k of perp notional is exactly at the cap and converts to 1,445 share-equivalents, for a score of 5,125. A challenger who also maxes the perp cap needs 1,841 real shares. The perp legs cancel and the doubling cancels, so the difference is share count.