TL;DR
- Hyper Foundation launches HyperEVM on the mainnet, bringing general-purpose programmability and enhanced security features to the Hyperliquid ecosystem.
- HyperEVM integrates with Hyperliquid’s L1 blockchain, benefiting from the HyperBFT consensus mechanism and supporting multi-sig transactions for staking and trading.
- A comprehensive bug bounty program is introduced, offering up to $1 million for identifying system vulnerabilities, with future upgrades planned for ERC20 token transfers and precompiles.
The Hyper Foundation has announced the launch of HyperEVM on the mainnet, marking a significant milestone in the evolution of DeFi. This release brings general-purpose programmability to the Hyperliquid ecosystem, leveraging the robust security features of its Layer 1 (L1) blockchain.
https://twitter.com/HyperFND/status/1891730068151599464
Key Features of HyperEVM
HyperEVM is designed to integrate seamlessly with Hyperliquid’s existing L1 blockchain, ensuring that it benefits from the security of the HyperBFT consensus mechanism.
This integration allows for direct interaction between the Ethereum Virtual Machine (EVM) and the native components of the L1 network, including spot and perpetual order books.
The initial mainnet release includes EVM blocks as part of the L1 execution platform, spot transfers of native HYPE and HyperEVM HYPE tokens, and the deployment of the WHYPE system contract to support DeFi applications.
Enhanced Security and Performance
One of the standout features of HyperEVM is its enhanced security, which is inherited from the Hyperliquid L1 blockchain. The HyperBFT consensus mechanism ensures that the EVM operates with the same level of security as the base layer.
Additionally, the platform supports native multi-sig transactions, allowing users to configure multiple wallets for collective transaction signing. This functionality is crucial for staking, order book trading, and asset custody on the Hyperliquid mainnet.
Bug Bounty Program
To further bolster the security of the HyperEVM, the Hyper Foundation has introduced a comprehensive bug bounty program. This initiative aims to incentivize developers to identify and report vulnerabilities within the system.
Rewards for finding bugs can scale up to $1 million, depending on the severity of the issue. The program covers a wide range of potential vulnerabilities, including those that could cause system outages or logical errors on nodes or API servers.
Future Upgrades
The Hyperliquid team has outlined plans for future network upgrades that will enable native transfers for general ERC20 tokens and precompiles. These features are currently available on the testnet, with developers actively collecting feedback to ensure a smooth rollout.
The staggered implementation strategy aims to minimize disruption to existing users while adding new functionalities to the platform. The launch of HyperEVM on the mainnet represents a major step forward for the Hyperliquid ecosystem.
