The Hyper Foundation has officially launched HyperEVM, which brings Ethereum Virtual Machine (EVM) compatibility to the Hyperliquid blockchain.
This update allows developers to deploy smart contracts while leveraging the security and efficiency of Hyperliquid’s Layer 1 infrastructure.
By integrating advanced programmability and security features, the launch is expected to enhance decentralised finance (DeFi) applications on the network.
At the same time, Bitcoin trading has been introduced on Hyperliquid, offering users a way to trade BTC directly on-chain.
This expansion allows Bitcoin holders to engage in decentralised trading with self-custodial control, making Hyperliquid a more comprehensive platform for digital asset trading.
HyperEVM Goes Live on Mainnet
Introducing HyperEVM to the Hyperliquid mainnet is a significant step in expanding the ecosystem’s capabilities.
By integrating an EVM execution layer, Hyperliquid now supports Ethereum-compatible smart contracts while maintaining the security of its Layer 1 blockchain.
HyperEVM is built on HyperBFT consensus, the security mechanism that underpins Hyperliquid’s infrastructure.
This ensures that transactions processed on HyperEVM maintain the same level of security as those on the base layer. The launch includes several key features:
- EVM blocks integrated with the Layer 1 execution platform to support smart contract deployment and execution.
- Spot transfers of HYPE tokens within the HyperEVM environment, ensuring seamless movement of assets across different parts of the network.
- The introduction of WHYPE, a wrapped version of HYPE designed to support upcoming DeFi applications.
Security remains a central focus for HyperEVM. The system supports multi-signature transactions, which allow multiple wallets to sign transactions collectively. This feature is particularly useful for staking, order book trading, and asset management.
To further secure the network, the Hyper Foundation has launched a bug bounty program offering rewards of up to $1 million for discovering vulnerabilities. This initiative aims to encourage developers to identify and report security risks before they can be exploited.
Despite the progress, the development team acknowledges that some aspects of HyperEVM are still in the early stages. Tooling and analytics for the EVM environment are still being refined, and developers are actively gathering feedback from users.
Future upgrades will focus on enabling native ERC-20 token transfers and precompiles, which are currently being tested before a broader rollout.
Bitcoin Trading Now Available on Hyperliquid
Hyperliquid has now integrated on-chain Bitcoin trading, allowing users to trade and hold BTC directly within the ecosystem. This feature is part of Hyperliquid’s effort to provide a decentralised alternative to traditional exchanges, where users retain full control over their assets.
With the launch of Unit, Hyperliquid introduces a new layer designed for asset tokenisation and direct BTC trading.
This development enables Bitcoin holders to trade BTC against USD without relying on a centralised intermediary. Unlike many decentralised exchanges that primarily focus on Ethereum-based assets, Hyperliquid now supports:
- Direct BTC deposits and withdrawals, eliminating the need for wrapped Bitcoin tokens.
- Self-custodial BTC/USD trading, ensuring that users maintain full ownership of their funds at all times.
- Lower trading fees compared to centralised exchanges, making on-chain BTC trading more cost-efficient.
The introduction of Bitcoin trading expands Hyperliquid’s role in the market. Previously known for its derivatives and perpetual trading platform, the exchange now offers a broader range of trading options, catering to both spot traders and those looking for leveraged trading opportunities.
With Bitcoin now available on Hyperliquid, the platform is expected to attract more users who prioritise security and decentralisation.
This move also aligns with Hyperliquid’s vision of building a self-sustaining financial ecosystem, reducing reliance on centralised exchanges while enhancing liquidity for major assets.
Conclusion
The launch of HyperEVM on the mainnet and the addition of Bitcoin trading on Hyperliquid mark two major milestones for the ecosystem.
HyperEVM brings enhanced programmability to the network while maintaining strong security measures through HyperBFT consensus and multi-signature support.
Meanwhile, the introduction of on-chain Bitcoin trading offers users a decentralised alternative for trading BTC, reinforcing Hyperliquid’s position as a growing DeFi platform.
As further upgrades roll out, the ecosystem is expected to develop even more features, solidifying its role in decentralised trading and finance.