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Decentralized Perpetuals Exchange · Custom L1

HyperEVM — DeFi That Composes with the Order Book

Ethereum-compatible smart contracts that can directly read from and trade against the Hyperliquid CLOB — no bridge, no trust assumption, no latency overhead.

Open App → How It Works
70%+
Decentralized Perp Market Share
of all on-chain perpetuals volume
$21.8B
24-Hour Trading Volume
April 2026 · exceeds most CEXs
0.2s
Transaction Finality
HyperBFT consensus · 200K+ TPS
Overview

HyperEVM

HyperEVM is the Ethereum-compatible smart contract execution environment built directly into the Hyperliquid L1. Launched on mainnet February 2025, it runs on the same HyperBFT consensus as HyperCore, enabling Solidity contracts to natively compose with Hyperliquid's on-chain order book via precompiles. This native composability distinguishes HyperEVM from external EVM chains (Arbitrum, Optimism, Base) that cannot directly access Hyperliquid's order book without bridging and trust assumptions.

Early HyperEVM ecosystem (early 2026): HyperLend (lending and borrowing with CLOB-based liquidations), Felix (CDP stablecoin using HYPE as collateral), USDT0 (Tether's canonical LayerZero-based omnichain USDT on Hyperliquid), Kinetiq (kHYPE liquid staking), and multiple yield vault protocols. The ecosystem is early but the architectural advantage is structural — any DeFi app on HyperEVM has native access to the world's most liquid on-chain derivatives market.

// protocol.data
TypePerp DEX + Spot + L1
Perp Mkt Share66–73% of DEX perps
24H Volume~$21.8B (Apr 2026)
Open Interest$7.3B
30D Volume$300B+
Users760,000+
Max Leverage40×
Maker Fee0.024%
Taker Fee0.045%
Finality0.2 seconds
TPS200,000+
VC FundingZero
KYCNot required
Features

Why 70% of On-Chain Perp Volume Chooses Hyperliquid

Custom L1, on-chain CLOB, CEX-grade liquidity — with self-custody. The architecture difference that changed decentralized trading.

🔧 EVM Compatible
Standard Solidity deployment — same tooling (Hardhat, Foundry, MetaMask) as Ethereum. Zero EVM-specific relearning.
🔗 CLOB Precompiles
Smart contracts call HyperCore precompiles to read prices, place orders, and manage positions — natively, no bridge.
🏦 HyperLend
Borrow against crypto collateral. Liquidations route through the HyperCore CLOB for efficient execution and tight liquidation prices.
💵 Felix CDP
Mint a stablecoin by depositing HYPE or other collateral. First CDP protocol native to the Hyperliquid L1.
💎 USDT0 (Tether)
Tether\'s canonical omnichain USDT via LayerZero. The recommended stablecoin for HyperEVM applications.
⛓️ Kinetiq kHYPE
Liquid stake HYPE, receive kHYPE. Usable as collateral on HyperLend while still earning staking yield.
Get Started

Trade in Minutes

No account. No KYC. Connect a wallet, bridge USDC, and trade perpetuals on-chain.

01
Add HyperEVM to MetaMask
Get the chain ID and RPC endpoint from Hyperliquid\'s documentation. Adding takes 30 seconds — same process as adding any EVM chain.
02
Bridge to HyperEVM
Use the native Hyperliquid bridge to move USDC or USDT. USDT0 is the canonical stablecoin — recommended for most HyperEVM interactions.
03
Get HYPE for Gas
HyperEVM uses HYPE for gas. Acquire a small amount (less than $10 worth covers extensive usage) from Hyperliquid spot or a CEX.
04
Explore HyperLend
Deposit USDT0 or HYPE as collateral, check current borrow rates, and borrow the asset you need. Liquidation thresholds are clearly shown in the UI.
05
Build on HyperEVM
Developers: clone any Ethereum project, point Hardhat/Foundry at the HyperEVM RPC, and deploy. Add CoreWriter precompile calls for order book interaction.

The Decentralized Exchange That Actually Works

$21.8B daily volume. 0.2-second finality. No KYC. No custodian. Your funds on-chain, your keys in your wallet.

Start Trading on Hyperliquid →

No account required · No withdrawal limits · Self-custody

FAQ

HyperEVM — Questions Answered

What can I do on HyperEVM?
+
Current HyperEVM applications: HyperLend (lend/borrow), Felix (mint CDP stablecoin), Kinetiq (liquid stake HYPE for kHYPE), various yield vaults, and USDT0 (omnichain stablecoin). The ecosystem is expanding as more developers deploy Solidity contracts.
Why build on HyperEVM vs Arbitrum or Base?
+
The unique advantage: HyperEVM contracts can directly interact with Hyperliquid\'s on-chain order book via precompiles. A lending protocol on HyperEVM can trigger hedging positions on the CLOB in the same transaction. No external EVM chain offers this — they would need to bridge to Hyperliquid first.
What is USDT0 on HyperEVM?
+
USDT0 is Tether\'s omnichain USDT built on the LayerZero OFT standard. Hyperliquid\'s HyperEVM is a canonical deployment — USDT0 can be moved between Hyperliquid and other USDT0-supported chains without a third-party bridge wrapper. It is the recommended stablecoin for HyperEVM DeFi apps.
Is HyperEVM mainnet?
+
Yes. HyperEVM launched on mainnet in February 2025. It is live with real assets and multiple production DeFi protocols. It remains an evolving ecosystem — some deeper integrations with HyperCore are still developing — but it is not a testnet or alpha environment.
How does HyperLend work on HyperEVM?
+
HyperLend is a lending protocol where you deposit collateral (HYPE, USDT0, or other supported assets) to borrow stablecoins or other assets. Liquidations are processed through HyperCore\'s CLOB, enabling tighter liquidation prices than protocols relying on external oracle-based liquidation.
Reviews

What Traders Say

DeFi Builder
★★★★★

"HyperEVM is the first EVM environment where I can build a lending protocol that directly hedges collateral exposure on an actual order book in the same transaction. The architectural composability is not a marketing claim — it is a real technical capability."

HyperLend User
★★★★☆

"Borrowing against HYPE at reasonable rates without selling is exactly what I needed. The CLOB-based liquidation is more efficient than oracle-based alternatives — tighter liquidation prices and less risk of bad debt."

Liquid Staking Participant
★★★★★

"kHYPE via Kinetiq makes HYPE maximally capital efficient. Stake for yield, use kHYPE as HyperLend collateral, borrow to deploy elsewhere. Three layers of yield from the same underlying HYPE position."

Zero VC. 31% Airdropped to Users. Real Revenue.

Hyperliquid raised no venture capital and gave 31% of HYPE directly to early users. The most community-aligned major DeFi protocol launch in history.

Get HYPE →