In a significant development in the Decentralized Finance (DeFi) sector, Hyperliquid has announced the launch of HyperEVM. This new platform is set to enhance the financial ecosystem by introducing general-purpose programmability while maintaining a high-performance trading infrastructure. This step includes a range of technical features designed to reshape the DeFi landscape.
HyperEVM is now live, marking a significant stride towards the goal of converging all financial operations under one roof. The mainnet release of HyperEVM includes an array of features such as HyperEVM blocks that are part of Layer 1 (L1) execution, ensuring they inherit security from HyperBFT consensus. Additionally, the platform now supports native spot transfers between HyperEVM HYPE and spot HYPE. This development means that HYPE will serve as the primary gas token within the HyperEVM network, ensuring more efficient transactions.
Another key feature of HyperEVM is the deployment of the canonical WHYPE system contract at address 0x555…5. This contract is specifically designed to streamline DeFi applications, providing a solid foundation for developers. A bug bounty program has also been launched, which will reward those who report mainnet-related vulnerabilities that could potentially affect nodes or API servers.
For API and wallet users, HyperEVM will operate on chain ID 999, with a JSON-RPC server for mainnet available for developers to connect. In a bid to decentralize infrastructure further, the foundation encourages builders to host their own RPC servers.
HyperEVM’s raw block data is streamed in real-time to Amazon S3, a feature that will allow developers to index the blockchain without running a full node. This will improve both accessibility and efficiency. However, Hyperliquid acknowledges that tooling and analytics for HyperEVM may need further refinement and has assured users that improvements are in progress.
Moreover, ERC-20 native transfers and precompiles are still undergoing testing. The team is seeking feedback before rolling out these features on the mainnet. This phased approach will ensure a smooth transition with minimal disruption to L1 users while maintaining Hyperliquid’s low-latency trading experience.
Hyperliquid’s market presence continues to grow, with a trading volume of $197.88 billion in perpetual swaps recorded in January, outpacing competitors such as Jupiter and Synfutures. This growth showcases Hyperliquid’s increasing dominance in the DeFi trading market. The current price of HYPE is $23.99, with a market valuation of $8.29 billion, ranking it 20th among all major cryptocurrencies.
This launch marks a significant step forward for Hyperliquid, as they continue to innovate and enhance their DeFi offerings, demonstrating their commitment to providing high-performance, secure, and efficient trading options.
