Hyperliquid launches HyperEVM on Mainnet officially. Hyperliquid, a rising force in the decentralized finance (DeFi) space, has taken a monumental step forward with the launch of HyperEVM, an Ethereum Virtual Machine (EVM) execution environment. This integration enhances the capabilities of Hyperliquid’s Layer 1 blockchain, enabling developers to deploy Ethereum-compatible smart contracts while leveraging the network’s high-performance financial infrastructure.
What is HyperEVM?
The Hyper Foundation, the entity overseeing Hyperliquid’s growth, has officially launched HyperEVM on Mainnet. This development marks a significant leap toward general-purpose programmability within the Hyperliquid ecosystem.
Key highlights of HyperEVM’s Mainnet launch include:
- Seamless integration with Hyperliquid’s Layer 1 execution system, inheriting security from the HyperBFT consensus layer.
- The ability to convert between native HYPE and HyperEVM HYPE, the latter serving as the gas token for executing smart contracts.
- Deployment of standardized WHYPE system contracts, offering new opportunities for DeFi applications within the ecosystem.
Despite its groundbreaking capabilities, tooling, and analytics for HyperEVM are still in development. However, the project has already taken proactive steps to support developers, including real-time streaming of raw HyperEVM block data to S3, eliminating the need for manual node operation to index transactions.
Hyperliquid Launches HyperEVM – Enhancing Security and Developer Engagement
Security remains a top priority for Hyperliquid. To strengthen the HyperEVM ecosystem, the Hyper Foundation has introduced a bug bounty program, encouraging developers and security researchers to identify potential vulnerabilities. Reports detailing critical Mainnet bugs that could cause downtime or logical errors in nodes and APIs will be rewarded accordingly.
Additionally, the foundation is actively gathering feedback on native ERC-20 transfers and precompiles, aiming to enhance the network’s functionality in upcoming upgrades.
Hyperliquid’s Explosive Growth in 2024
Beyond its technological advancements, Hyperliquid has achieved remarkable milestones, solidifying its position as a leader in decentralized derivatives trading. In 2024 alone, Hyperliquid recorded:
- $15 billion in daily trading volume, a 15x increase from its previous record.
- An expansion of its user base from 31,000 to 300,000, marking an impressive ninefold growth.
- Total Value Locked (TVL) skyrocketed from $56 million to $2.1 billion (37x), reflecting the increasing trust and adoption of the platform.
- A diverse trading environment with 158 perpetual trading pairs and 128 native spot assets, generating over $3.5 million in daily revenue from fees and auctions.
These figures underscore Hyperliquid’s dominance in the DeFi sector, particularly in the derivatives market. In January 2025, the platform’s perpetual swap trading volume reached $197.88 billion, surpassing competitors like Jupiter ($36.28 billion) and SynFutures ($16.21 billion) by a wide margin.
HYPE: A Rising Star in the Crypto Market
Hyperliquid’s native token, HYPE, has gained significant traction, especially among airdrop hunters who have reaped substantial profits. The token has maintained strong performance even amid market volatility.
Following the HyperEVM launch, HYPE’s price experienced a 0.8% uptick to $26.1, with a market capitalization of $8.8 billion. While recent fluctuations have seen HYPE trade around $25, the project’s overall outlook remains highly promising.
Why Hyperliquid is a Project to Watch?
With its continued innovation in DeFi, strong trading volume, and strategic upgrades like HyperEVM, Hyperliquid is rapidly emerging as one of the most promising blockchain projects. By enabling Ethereum-compatible smart contract development, boosting security, and expanding its user base, the platform is positioning itself as a major player in the next wave of blockchain evolution.
As Hyperliquid continues to refine its ecosystem and introduce new features, its influence in decentralized trading and DeFi infrastructure is expected to grow exponentially. Whether you’re a developer, trader, or investor, keeping an eye on Hyperliquid could be a game-changing move in 2025 and beyond.
Further Reading
A Guide on How to Use Hyperliquid on MevX
Exploring the Hyperliquid Bridge For Seamless Cross-Chain Trading
How to Fund Hyperliquid and Start Trading