HyperEVM Goes Live: Bringing Programmability and Performance to Hyperliquid Finance

The HyperEVM is now live—a pivotal milestone that advances Hyperliquid’s vision of integrating all finance within one high-performance ecosystem. 

This launch brings general-purpose programmability to the platform, ensuring secure and efficient financial operations by seamlessly combining HyperEVM with HyperBFT consensus. 

Early adopters will benefit from native HYPE transfers and a dedicated WHYPE contract for decentralized finance applications.

Read More: Hyperliquid(HYPE) Price Today

Key Takeaways:

• Seamless Integration: HyperEVM blocks are integrated into L1 execution, inheriting the robust security of HyperBFT consensus.
• Native Asset Transfers: Users can now execute spot transfers between native spot HYPE and HyperEVM HYPE.
• Developer Empowerment: A canonical WHYPE system contract and real-time block data streaming empower developers to build innovative DeFi applications.

HyperEVM Mainnet Overview

The initial mainnet release of HyperEVM marks a significant step forward for Hyperliquid’s financial ecosystem. By integrating HyperEVM blocks into the L1 execution environment, the platform leverages HyperBFT consensus to ensure security and performance. 

This integration sets the stage for a wide range of financial applications and trading experiences built on Hyperliquid’s robust infrastructure.

Read More: Hyperliquid (HYPE) Overtakes Ethereum in Revenue

Native HYPE and Spot Transfers

A key feature of the HyperEVM launch is the support for spot transfers between native spot HYPE and HyperEVM HYPE. As the native gas token on the HyperEVM, HYPE facilitates smooth transactions and provides the necessary liquidity for decentralized finance operations. 

This capability enhances the overall functionality of the network and ensures that token transfers remain efficient and secure.

Canonical WHYPE System Contract

Developers can now access a canonical WHYPE system contract, deployed at address 0x555...5, specifically designed for DeFi applications. This contract serves as a bridge for wrapped HYPE assets, making it easier for developers to integrate native token functionality into their decentralized applications. Detailed source code and technical documentation are available for those looking to leverage this powerful tool in their projects.

Bug Bounty and Developer Incentives

To encourage robust security and continuous improvement, Hyperliquid has activated a bug bounty program. Participants are rewarded for identifying vulnerabilities in the initial HyperEVM release, with bounty amounts applicable to the new features. 

Detailed guidelines and reward structures are outlined in the program documentation, ensuring that developers have clear incentives to contribute to the platform’s security.

API, Wallet Access, and Real-Time Data

For API and wallet users, the mainnet HyperEVM operates on chain ID 999, with a JSON-RPC server available at https://rpc.hyperliquid.xyz/evm. While tooling and analytics may need further refinement post-launch, real-time block data is streamed to S3. 

This allows developers to index HyperEVM data without the necessity of running a full node, thereby lowering the barrier to entry for innovative development on the platform.

Future Upgrades and Network Composability

Looking ahead, Hyperliquid plans to enable general ERC20 native transfers and precompiles in a future network upgrade. These features are already implemented on testnet, with mainnet releases staggered to minimize disruption. 

The HyperEVM is designed to be fully composable with the L1 state, ensuring that the low latency trading experience remains unaffected while opening up new possibilities for financial applications.

FAQs

Q1: What is the significance of the HyperEVM launch?
A1: The HyperEVM launch brings general-purpose programmability to Hyperliquid’s high-performance financial system, integrating secure L1 execution and enabling native HYPE transfers for enhanced DeFi operations.

Q2: How does the native HYPE token function within HyperEVM?
A2: HYPE serves as the native gas token on HyperEVM, facilitating efficient spot transfers and ensuring smooth transaction processing across the network.

Q3: What developer tools are available with this release?
A3: Developers can access a canonical WHYPE system contract for DeFi applications, real-time block data via S3 streaming, and detailed documentation for API and wallet integration, all designed to foster innovation on Hyperliquid.