🚀 HyperEVM is Here: The Future of DeFi is Finally Live! 🚀
Oh joy, oh rapture! The blockchain’s smart contract capabilities might just get a boost, thanks to Hyperliquid’s launch of HyperEVM on testnet. 🤩 Because, you know, the world was just missing that one thing to make DeFi complete…
According to Hyperliquid’s (HYPE) official announcement on X, the update adds general-purpose programmability to the ecosystem while preserving the platform’s low-latency trading experience. Because who needs latency when you can have programmability? 🤔
Hyperliquid’s HyperBFT consensus provides complete security for HyperEVM transactions, enabling on-chain execution without the need for external validation layers. Which is just a fancy way of saying “we’ve got this, don’t worry about security.” 😎
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,…
— Hyper Foundation (@HyperFND) February 18, 2025
Prior to the mainnet rollout, the testnet phase will be used to collect input and improve developer tooling. Because, you know, testing is hard. 🤦♀️ Future upgrades will include general ERC-20 transfers and precompiles. Because who doesn’t love a good ERC-20 transfer? 🤑
Hyperliquid’s native token, HYPE, will serve as the gas token for HyperEVM. A new system contract, WHYPE, has also been deployed to support DeFi applications and native spot transfers between Hyperliquid’s L1 and HyperEVM. Because who needs a simple token when you can have a fancy system contract? 🤓
The debut coincides with Hyperliquid’s ongoing market growth. HYPE has risen approximately 553% from its launch in November 2024, outpacing other cryptocurrencies. Because who doesn’t love a good pump? 🚀 The platform’s solid foundation has been aided by its pricing structure, which allocates profits to liquidity providers and a community-managed fund. Because sharing is caring… or something. 🤷♀️
Hyperliquid gained a lot of attention after its massive billion dollar airdrop, one of the biggest in crypto history. Because who doesn’t love a good airdrop? 🎁 The platform’s appeal to traders is boosted by the fact that it aims to offer a CEX-like trading experience besides being a DEX. Because who needs choice when you can have a CEX-like experience? 🤔
The Assistance Fund is one of its most notable characteristics, which is absent from many DEXs. In the event of security breaches or when liquidity needs to be boosted, the fund, which keeps growing as fees increase, serves as a safety net. Because who doesn’t love a good safety net? 🌳
A recent K33 Research report revealed that Hyperliquid held 55% of the 7-day trading volume for perpetual DEXs. Furthermore, the open interest on the platform increased to 47% of OKX’s levels and 13% of Binance‘s. Because who doesn’t love a good statistic? 📊
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2025-02-18 11:12