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Weekly Hyper EVM Ecosystem Updates #1

HyperEVM Hits Mainnet

February 18, 2025 marked the launch of HyperEVM to mainnet. This integration brings Ethereum Virtual Machine capabilities to HyperLiquid, powered by HyperBFT consensus on their Layer-1 blockchain.

Key Features:

  • Spot transfers between native HYPE and HyperEVM HYPE tokens
  • Wrapped HYPE (WHYPE) for DeFi applications
  • 1 million USD bug bounty program
  • HYPE tokens rose 10% to 27.32 USD on launch day, settling around 26 USD

Ecosystem Growth

DeFi

  • Keiko Finance: Initiated their hype lending platform, incentivizing early adopters through a points system rewarding HYPEandHYPE and KEI liquidity providers.
  • HypurrFi: Successfully launched its lending protocol on mainnet, enabling users to earn yield and borrow against collateral, enhancing stablecoin liquidity.
  • Sunder Finance: Implemented a ve(3,3) automated market maker (AMM) mechanism, introducing governance incentives and community participation via airdrops.
  • HyperSwap: Confirmed governance token plans ($SWAP) and initiated a points-based liquidity mining program, boosting platform adoption and liquidity.

Meme

  • LiquidLaunch: Launched as HyperEVM’s first native meme token launchpad, facilitating easy creation and instant liquidity for new tokens.
  • Eternal AI: Introduced AI agent creation capabilities, enabling users to deploy autonomous, personalized AI agents within the HyperEVM environment.

NFT

  • Tiny Hyper Cats (THC): Launched a popular fully on-chain NFT collection, quickly selling out 2,222 unique digital collectibles, driving secondary market interest.
  • NFTs2Me: Integrated support for HyperEVM, providing creators with easy-to-use tools for deploying NFTs without coding.
  • On-chain NFTs: Additional fully on-chain NFT projects, including HyperPunks and HypeRocks, emerged, further expanding the NFT ecosystem on HyperEVM.

Infrastructure

  • RPC Nodes: Community developer Sprites provided guidelines for setting up private RPC nodes, improving accessibility and decentralization.
  • Multisig (Den × HypurrFi): Implemented secure multisig wallet functionality through collaboration with Den, improving fund management security.
  • Cross-Chain Bridging (deBridge): Enabled seamless asset bridging to and from HyperEVM, facilitating interoperability with other chains.
  • Oracles: Integrated robust oracle services from Pyth and Stork, ensuring accurate and decentralized price feeds for DeFi applications.
  • HypurrDash Transfers: Streamlined the transfer process between Layer 1 and EVM wallets, enhancing user experience.
  • Block Explorers: Multiple new explorers (Purrsec, 0xPrince, Gas.zip) launched, increasing transparency and ease of data access.
  • HypurrScan RPC: Set up an additional RPC endpoint, offering redundancy and improved reliability.
  • Indexing Tools: Goldsky and Indexing Co. introduced comprehensive indexing solutions, simplifying data management for developers.
  • Frontend (0xikalgo): Developed frontend toggling capability for easy dApp migration from Ethereum to HyperEVM.
  • Okto SDK Support: Enhanced wallet and DeFi application integration through Okto’s SDK, broadening HyperEVM adoption.
  • Hyperlane Bridge: Initiated plans for Hyperlane integration to enable cross-chain messaging and asset transfers.

Technical Details

HyperEVM operates with Chain ID 999 and provides JSON-RPC access at https://rpc.hyperliquid.xyz/evm. Block data streams to Amazon S3, simplifying indexing processes.

Conclusion

The HyperEVM launch has transformed the HyperLiquid ecosystem by combining high-performance trading with comprehensive DeFi functionality. Projects like Felix Protocol, HyperSwap, Kinetiq, Thunderhead, and HyperLend, alongside growing memecoin momentum, demonstrate HyperEVM's potential.

With strong fundamentals and increasing adoption, HyperLiquid is positioned to advance on-chain finance, provided they continue refining their tooling and maintaining competitive advantages.