Hyperliquid Team Launches HyperEVM

Hyper Foundation has deployed the HyperEVM execution environment to ensure “universal programmability.”

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

Hyperliquid is an L1 with a native DEX module. The network employs a modified version of the Proof-of-Stake consensus algorithm called HyperBFT, boasting a throughput of 200,000 TPS.

HyperEVM is a component of the Hyperliquid ecosystem for integrating the EVM. It allows developers to run Ethereum-compatible smart contracts with enhanced performance.

The initial release of HyperEVM includes blocks created as part of L1 execution, inheriting “all the security of the HyperBFT consensus.”

Following the launch, exchanges between native spot HYPE and their counterparts in HyperEVM are available.

The native token is used for staking within the HyperBFT PoS consensus mechanism and as a fee for processing transactions in HyperEVM.

In the future, developers plan to add ERC-20 transfers and precompilation.

The organization has launched a bug bounty program for discovering issues that could lead to failures or logical errors on nodes or API servers.

In January, the trading volume of perpetual contracts on Hyperliquid reached $197.88 billion. By comparison, Jupiter recorded $36.28 billion, and Synfutures $16.21 billion.

Over the past 30 days, the price of Hyperliquid (HYPE) has risen by 22.6%. The asset ranks 25th by market capitalization.

Earlier, Coinbase experts identified the hype around the HYPE airdrop as one of the drivers of the stablecoin market capitalization surpassing $200 billion.