HyperEVM by Hyperliquid: status and timeline

HyperEVM

Ethereum-compatible smart contract environment on Hyperliquid L1. Solidity contracts compose with order book and perps via precompiles.

ScalingStage 5 of 5

Live since Feb 18, 2025. Hosts lending, LSTs, money markets, USDT0. Linked to HyperCore via HyperBFT.

Updated 25 Mar 2025Checked 10 Oct0 updates this week

Milestones

Next · HyperEVM ecosystem DeFi expansion

HyperEVM design and development begin2024Complete.
HyperEVM mainnet launch18 Feb 2025Complete.
ERC-20 transfers and precompiles enabled2025Complete.
HyperLend lending market launch24 Mar 2025Complete.
HyperCore and HyperEVM linking25 Mar 2025Complete.

Most important updates

Upcoming

2026HyperEVM ecosystem DeFi expansion (next)
2026Cross-chain bridge integrations

Current obstacles

Smart contract security and validationArbitrary Solidity deployments increase bug and exploit risk. Composability with perps multiplies risk.
State explosion and pruningStorage and indexing grow with contract deployments. Balancing sync speed, query performance and decentralization is hard.

Physics limits

Composability overheadEvery instruction that reads from the order book or perp engine state must coordinate with HyperBFT consensus, adding latency relative to execution on a pure smart contract chain.
Validator decentralization vs. throughputHigher validator counts improve decentralization but reduce per-validator throughput. HyperEVM must balance these to achieve sufficient DeFi composability speed.

How it works

4 parts

EVM Compatibility

Standard Solidity contracts without modification

Developers deploy unmodified Solidity smart contracts using standard Ethereum tooling. HyperEVM uses Chain ID 999 and HYPE as the native gas token.

Order Book Integration

Precompiles for on-chain market access

Smart contracts access L1 order book and perp engine via precompiles; programmatic limit orders without bridges.

Consensus

Shared HyperBFT validators

HyperCore and HyperEVM share validators and HyperBFT, ensuring atomic settlement and no double-spending.

Dual Block Cadence

Fast and slow blocks for competing priorities

Small blocks every 1s for finality; large blocks every 1 minute for complex txs. Same validators.

Spec sheet

Spec	HyperEVM
Chain ID	999^R (reported)
Gas token	HYPE^R (reported)
Block production	Small blocks every 1 second; large blocks every 1 minute^R (reported)
Fee model	EIP-1559 with priority fees burned^R (reported)

^R reported by the company

Update log

2 updates

Tue 25 Mar 2025

Major: Hyperliquid links HyperCore and HyperEVM for unified DeFi and CEX experiencePressSoftware

Mon 24 Mar 2025

Major: HyperLend launches as first major lending market on HyperEVMPressSoftware

About Hyperliquid

The team behind HyperEVM

Hyperliquid

On-chain futures exchange L1, HyperEVM, HIP-3

A blockchain built to run one thing: a fully on-chain exchange for perpetual futures ('perps') and spot trading. Built by Hyperliquid Labs without venture funding, it became the largest decentralised perps venue. Its HIP-3 rules let others launch their own markets.

HYPE token launched Nov 2024. 31% of supply went free to users, none to venture investors.
HIP-3 markets by outside builders, incl. tokenised stocks and commodities, reached ~half of perp volume in 2026.
The March 2025 JELLY squeeze and Oct 2025 crash showed the downside of validators stepping into markets.

hyperliquid.xyz (opens hyperliquid.xyz)Company profile →

Founded: 20224 yrs
Headquarters: Singapore
Status: Private
Valuation: private
Works in: CryptoTrading & DeFi
Coverage: 2 programs · 9 updateslatest 25d agochecked 25 Sep
Partners: Kraken (Payward) (opens kraken.com)Native Markets (opens nativemarkets.com)
People: Jeff YanCo-founder, Hyperliquid Labs

Spec

HyperEVM

Chain ID

999^R (reported)

Gas token

HYPE^R (reported)

Block production

Small blocks every 1 second; large blocks every 1 minute^R (reported)

Fee model

EIP-1559 with priority fees burned^R (reported)