HYPE Rallies Ahead of CoreWriter Launch

The Hyperliquid community is buzzing ahead of the release of the CoreWriter contract, which is confirmed to launch with the next mainnet network upgrade, expected on July 5. The contract will enable HyperEVM dApps to directly execute transactions on Hyperliquid’s perpetuals exchange, Hypercore.

The upgrade was confirmed by Hyperliquid founder Jeff Yan in the project’s official Discord on July 2, with HYPE trading just below $38 at the time. The token rallied by almost 7% after the announcement and is currently trading at $40.5, with a market capitalization of $13.5 billion.

CoreWriter is a pivotal upgrade for Hyperliquid, enabling secure, programmable, and fair cross-layer operations between HyperEVM and HyperCore. It unlocks advanced DeFi features, such as native liquid staking, and enhances developer flexibility.

The CoreWriter rollout will enable new DeFi protocols to experiment with HyperCore integration, and one in particular that is garnering attention is Kinetiq, a liquid staking protocol.

Kinetiq will be a HyperCore-integrated liquid staking system, featuring an autonomous validator scoring and stake distribution mechanism that is highly anticipated by ecosystem participants.

Ahead of its launch, Kinetiq also announced iHYPE, its Kinetiq-staked HYPE, which is catered to institutional partners such as Flowdesk and IMC Trading.

In a previous interview with The Defiant, a contributor at Felix Protocol known as Charlie said, “Expecting substantial unlocks on the market side when write precompiles [now known as CoreWriter Contract] go live and HyperEVM protocols can integrate much more closely with HyperCore. This should enable a bit more of the HyperEVM realization of being a vehicle for trader optimization on HL.”