Hyperliquid Launches HyperCore and HyperEVM for Enhanced DeFi Experience

The integration, announced on Tuesday, provides improved functionality for developers building on Hyperliquid's platform.

Hyperliquid, the layer-1 network specialized in decentralized finance (DeFi), has announced the integration of its HyperCore and HyperEVM systems. This integration, announced on Tuesday, provides improved functionality for developers building on Hyperliquid’s platform.

HyperCore is the foundational layer of Hyperliquid’s network, designed for high-performance trading and DeFi use cases. On the other hand, HyperEVM, introduced in February, is a general-purpose Ethereum Virtual Machine environment. This combination enables developers to build EVM-compatible decentralized applications (dApps) while reaping the benefits of HyperCore’s system.

Until recently, these two systems operated independently. However, now developers can seamlessly transfer assets, including Hyperliquid’s native HYPE token, between HyperCore and HyperEVM.

This integration is possible thanks to the protocol’s ‘spotSend action,’ which allows for token conversion between the two systems. Additionally, developers can utilize the ERC-20 transfer feature on the EVM side for further flexibility in transferring assets.

Hyperliquid is advising users to test the new linking and asset conversion features on the testnet before activating them on the mainnet. It's also crucial to note that linking is immutable once executed.

In recent GitHub documentation from Hyperliquid, a few key security precautions were highlighted. The system address, a vital component of the linking process, may not have sufficient supply.

Furthermore, a verification check for valid ERC-20 recipient contracts has yet to be released. It's essential for developers to personally verify that the linked contract’s implementation is correct, as arbitrary bytecode could pose potential security risks.

Hyperliquid’s perpetual decentralized exchange (DEX) has already become a notable player in the DeFi space. After launching in 2023, the protocol airdropped HYPE tokens to users, reaching a total value of $1.2 billion in November.

However, the price of HYPE has since dropped around 53% from its all-time high of $34.96 in December 2024. As of Wednesday morning, HYPE was trading at $16.32.