# Introduction

Gamma Perp Vaults are perpetual trading vaults built on Hyperliquid with strategies based on financial signals, momentum trading, and sentiment analysis.

## Key Features

## Strategies

* Hedge - A market-neutral strategy that uses a continuous score to take long and short positions.
* Switch - A directional strategy that fully switches long or short based on a binary signal.
* Shift - A directional strategy that shifts exposure based on a continuous score.

### Types

* Balanced  - These vaults have an even number of long/short positions to mitigate directional risk
* Directional - Take either long/short directional positions based on market conditions and financial indicators

### Strategy Management

* Strategies are live 24/7, and rebalances of vault portfolio happen intermittently 
* Hyperliquid vaults provide all backend data and execution