- Hyperliquid Integrates Smart Contracts with HyperEVM Mainnet Launch.
- Bug Bounty Program for developers and users up to $1 Million for Security Vulnerabilities.
HyperLiquid has officially launched HyperEVM on its Layer-1 blockchain. The upgrade is said to enhance smart contract functionality while maintaining the platform’s low-latency trading experience. This marks a new step towards making HyperLiquid a robust financial ecosystem and Decentralized Finance (DeFi) giant.
Hyper Foundation confirmed the launch on February 18, emphasizing that HyperEVM is directly integrated with the Layer-1 state. Unlike traditional EVM-compatible chains, HyperEVM does not require external validation layers. It inherits security from HyperBFT consensus, ensuring seamless interaction between Hyperliquid’s native components and the new execution environment.
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:
— Hyper Foundation (@HyperFND) February 18, 2025
1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5
HyperEVM Brings Programmability to Hyperliquid’s Ecosystem
The launch introduces smart contract capabilities, allowing developers to build DeFi applications using Hyperliquid’s existing infrastructure. HyperEVM supports ERC-20 transactions and spot transfers, with the native HYPE token serving as gas fees for transactions.
To encourage developer adoption, Hyperliquid streams HyperEVM block data live to Amazon S3, simplifying indexing without the need for a full node. While the foundation acknowledged that analytics and tooling require further refinement, experienced builders are actively enhancing these aspects.
The foundation stated in its official announcement:
“Thank you to all the builders and users who have shared feedback on testnet so far. It will be exciting to see new applications leveraging and building upon the existing on-chain financial system of Hyperliquid.” A future network upgrade will introduce general ERC-20 transfers and be precompiled. These features remain in testing to prevent disruption to current Layer-1 users.
Hyperliquids Bug Bounty Program Offers Up to $1 Million for developers and users
In a strategic move to fortify security, Hyperliquid has launched a bug bounty program. Payouts range from under $10,000 to nearly $1 million, depending on the severity of discovered vulnerabilities. The initiative incentivizes developers to identify security flaws within HyperEVM and its interactions with the Hyperliquid ecosystem.
The program includes potential exploits that could disrupt network stability, logical errors on API servers, and other critical issues. However, reports lacking sufficient detail or those requiring unrealistic user behavior will be deemed ineligible.
Hyperliquid’s proactive approach to security underscores its commitment to providing a safe and efficient trading environment for its growing user base.
HYPE Token Stability and Hyperliquid’s Expanding Market Presence
Despite the technical advancements, Hyperliquid’s native token, HYPE, remained steady at approximately $26 following the HyperEVM launch. The token boasts a market capitalization of $8.6 billion with a 24-hour trading volume exceeding $200 million.
Hyperliquid’s total value locked (TVL) surged past $677 million in February, reflecting a 300% increase since December 2024. The platform continues to dominate the perpetual DEX space, accounting for 55% of the sector’s seven-day trading volume, as per K33 Research.
Much of Hyperliquid’s success can be attributed to its billion-dollar airdrop—the largest in DeFi history—where 28% of the total token supply was distributed. The protocol also introduced native staking, allowing HYPE holders to earn rewards by securing the network.
The platform’s unique Assistance Fund further strengthens its appeal. Unlike most decentralized exchanges (DEXs), Hyperliquid maintains a reserve to cover security breaches or liquidity shortages, ensuring stability even during turbulent market conditions.
With HyperEVM now live and further upgrades on the horizon, Hyper Liquid is positioning itself as a formidable player in the DeFi landscape, merging high-speed trading with scalable smart contract functionality.
Highlighted Crypto News for Today
