Hyperliquid launches HyperEVM on mainnet to bring ‘general-purpose programmability’

The Hyperliquid EVM (or HyperEVM) has gone live, a move the Hyper Foundation describes as "bringing general-purpose programmability" to the network.

HyperEVM is a component of the Hyperliquid ecosystem, specifically designed to integrate an Ethereum Virtual Machine into its Layer 1 blockchain. It enables developers to run Ethereum-compatible smart contracts with enhanced performance.

The Hyper Foundation announced today that the initial mainnet release of HyperEVM, Hyperliquid’s execution environment, includes blocks built as part of Layer 1 execution that inherit “all security from HyperBFT consensus.”

"This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system," the foundation said.

With the launch, spot transfers are also available between native spot HYPE and HyperEVM HYPE. HYPE serves as a native gas token on HyperEVM.

“Tooling and analytics around mainnet HyperEVM may not be polished on day one,” the Hyper Foundation added, adding that raw HyperEVM block data is “streamed real-time to S3 so that running a node is not required to index the HyperEVM.”

The project also offered a bug bounty program that aims to pay mainnet bounty amounts for qualifying reports. Specifically, reports about bugs on the mainnet that would cause an outage or logical error on nodes or API servers would be eligible for the bounty program.

The team said it is still collecting feedback on general ERC 20 native transfers and precompiles on testnet and will enable these features in a future network upgrade.

Hyperliquid is a decentralized perpetual trading platform and Layer 1 chain. In January, its  perpetual swap trading volume reached $197.88 billion, much larger than Jupiter’s $36.28 billion and Synfutures’ $16.21 billion.

HYPE rose 0.8% in the past 24 hours to trade at $26.1, with a market capitalization of $8.8 billion, according to The Block’s price page .