Alisa Davidson
Published: February 18, 2025 at 3:13 am Updated: February 18, 2025 at 3:14 am
Edited and fact-checked:
February 18, 2025 at 3:13 am
In Brief
Hyper Foundation has announced the mainnet launch of HyperEVM, marking a step toward expanding financial programmability within Hyperliquid’s high-performance ecosystem.
Organization dedicated to advancing the Hyperliquid blockchain and its ecosystem, Hyper Foundation announced the official launch of HyperEVM on the mainnet.
Hyperliquid is a high-performance Layer 1 blockchain designed from the ground up to support an open, fully on-chain financial system. Its goal is to enable user-built applications to interact seamlessly with powerful native components while maintaining an optimal user experience.
A key feature of the Hyperliquid Layer 1 is its general-purpose Ethereum Virtual Machine (EVM), which is integrated directly into the blockchain state. Unlike separate EVM-compatible chains, HyperEVM operates within the same HyperBFT consensus framework as the rest of the Layer 1 network. This architecture allows direct interaction between the EVM and native Layer 1 components, such as spot and perpetual order books, ensuring efficient and secure transactions.
The launch of HyperEVM represents a step toward expanding financial programmability within Hyperliquid’s high-performance ecosystem. The initial mainnet release incorporates HyperEVM blocks directly into Layer 1 execution, leveraging HyperBFT’s security model. Additionally, spot transfers between the native HYPE token and HyperEVM HYPE are now supported. HYPE serves as the native gas token for HyperEVM transactions.
In order to further enhance decentralized finance (DeFi) development, a canonical WHYPE system contract has also been deployed, providing essential infrastructure for decentralized applications within the HyperEVM ecosystem.
Hyper Foundation Unveils Bug Bounty Program And Support For Node Runners
The mainnet HyperEVM operates under chain ID 999, which is important for both API and wallet users. A JSON-RPC server for the mainnet HyperEVM is hosted on Hyperliquid’s server, but node operators and other developers are encouraged to host their own RPC servers for flexibility and decentralized access. Additionally, along with the launch, the Bug Bounty Program has been introduced, offering mainnet bounty rewards for reports that fall within the defined scope.
While the Hyper Foundation acknowledged that tooling and analytics for the mainnet HyperEVM might not be fully refined at launch, there is a dedicated group of skilled developers focused on addressing these challenges. To assist in these efforts, raw HyperEVM block data is streamed in real-time to S3, meaning that running a node is not required to index the HyperEVM, making it more accessible for developers.
Looking ahead, general ERC-20 native transfers and precompiles will be supported in a future network upgrade. Feedback regarding these features on the testnet is welcomed and appreciated. While these features are actively tested on the testnet, the mainnet updates will be rolled out gradually to minimize disruption for existing Layer 1 users. Importantly, the HyperEVM is fully composable with the Layer 1 state, allowing seamless integration without impacting the low-latency trading experience of current users.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
