The integration, announced on Tuesday, provides improved functionality for developers building on Hyperliquid’s platform.
HyperCore and HyperEVM Integration: A Game Changer for DeFi
HyperCore is the foundational layer of Hyperliquid’s layer-1 network, designed for high-performance trading and decentralized finance. Meanwhile, HyperEVM, introduced in February, serves as a general-purpose Ethereum Virtual Machine (EVM) environment. This combination allows developers to build EVM-compatible decentralized applications (dApps) while leveraging HyperCore’s robust system. Until now, these two systems operated independently, but now, developers can seamlessly transfer assets like Hyperliquid’s native HYPE token between them.
Simplifying Token Conversion for Developers
With the systems now linked, developers can use the “spotSend action” or the protocol’s frontend interface to easily convert tokens between HyperCore and HyperEVM. Additionally, developers can utilize the ERC-20 transfer feature on the EVM side for further flexibility. Hyperliquid is advising users to test the new linking and asset conversion features on the testnet before activating them on the mainnet, as linking is immutable once executed.
Caution and Security Considerations for Asset Transfers
Hyperliquid’s recent GitHub documentation highlights a few important security precautions. It noted that the system address – a key component of the linking process – may not have sufficient supply, and a verification check for valid ERC-20 recipient contracts has not yet been released. Developers are urged to verify that the linked contract’s implementation is correct, as arbitrary bytecode could potentially pose security risks.
Hyperliquid’s perpetual decentralized exchange (DEX) has already been a notable player in the DeFi space. After launching in 2023, the platform airdropped HYPE tokens worth $1.2 billion in November. However, the price of HYPE has since dropped approximately 53% from its all-time high of $34.96 in December 2024.
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Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/hyperliquid-launches-hypercore-and-hyperevm-for-enhanced-defi-experience/