HyperEVM Launch Boosts Hyperliquid’s Financial Ecosystem

• HyperEVM enhances Hyperliquid’s DeFi ecosystem with general-purpose programmability and high-performance trading support.
• Hyperliquid saw $197.88B in January trading volume, outpacing competitors and solidifying its market dominance.
• HyperEVM boosts developer access with real-time blockchain data streaming and a focus on decentralized infrastructure.

Hyperliquid has taken a major leap forward with the launch of HyperEVM. This development enhances the platform’s financial ecosystem by introducing general-purpose programmability while preserving its high-performance trading infrastructure. Moreover, this launch includes significant technical features and improvements that could reshape decentralized finance (DeFi).

The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes:

1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5

— Hyper Foundation (@HyperFND) February 18, 2025

HyperEVM’s Core Enhancements

HyperEVM blocks are now integrated into Layer 1 (L1) execution. This ensures they inherit security from HyperBFT consensus. Additionally, native spot transfers between HyperEVM HYPE and spot HYPE are now supported. HYPE serves as the primary gas token within the HyperEVM network, making transactions more efficient.

Another major addition is the deployment of the canonical WHYPE system contract at address 0x555…5. This contract aims to streamline DeFi applications, providing a solid foundation for developers. Furthermore, the mainnet bug bounty program is now active. The program will reward reports on mainnet-related vulnerabilities that could affect nodes or API servers.

Technical Features and Future Upgrades

For API and wallet users, HyperEVM operates on chain ID 999. The JSON-RPC server for mainnet is available enabling developers to connect seamlessly. Notably, the foundation encourages builders to host their own RPC servers to decentralize infrastructure further.

In addition, HyperEVM’s raw block data is streamed in real-time to Amazon S3. Consequently, developers can index the blockchain without running a full node, improving accessibility and efficiency. However, Hyperliquid acknowledges that tooling and analytics for HyperEVM may require refinements, and improvements are underway.

Moreover, ERC-20 native transfers and precompiles remain in testing. The team is collecting feedback before rolling out these features on the mainnet. This staggered deployment approach ensures minimal disruption to L1 users while maintaining Hyperliquid’s low-latency trading experience.

Hyperliquid’s Rising Market Presence

In January, Hyperliquid recorded a massive trading volume of $197.88 billion in perpetual swaps. This figure outpaced competitors like Jupiter ($36.28 billion) and Synfutures ($16.21 billion). This expansion demonstrates Hyperliquid’s growing hegemony in the DeFi trading market. The price of HYPE is currently $23.99, down 7.04% over the previous day. With a market valuation of $8.29 billion, it is ranked 20th out of all the major cryptocurrencies.

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