Hyperliquid launches its general-purpose EVM and unveils bug bounty program

Hyperliquid has launched its general-purpose EVM dubbed HyperEVM.
The HyperEVM integrates with Hyperliquid’s L1 consensus mechanism for security.
The Hyperliquid Bug bounty offers up to $1M for identified bugs.

Hyperliquid, the layer-1 blockchain platform, has launched HyperEVM, its general-purpose Ethereum Virtual Machine (EVM).

The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes:

1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5

— Hyper Foundation (@HyperFND) February 18, 2025

This move marks a crucial step in Hyperliquid’s mission to integrate comprehensive financial programmability into its high-performance ecosystem.

HyperEVM is integrated into Hyperliquid’s L1 consensus mechanism

The HyperEVM will not operate as a standalone chain but is deeply integrated into Hyperliquid’s existing layer-1 consensus mechanism, known as HyperBFT. This integration ensures that the EVM inherits the robust security features of Hyperliquid’s base layer.

Notably, the blocks of HyperEVM are constructed as part of the L1 execution, providing seamless interaction between the EVM and native components of the Hyperliquid network. This setup allows for the HYPE token, native to Hyperliquid, to be fungible with the gas token used within the HyperEVM, enhancing the platform’s liquidity and user experience.

HyperEVM has been assigned a chain ID of 999, and a JSON-RPC server has been made available to encourage node operators and other builders to host their own servers, thereby decentralizing access to the network.

In addition, recognizing the nascent state of tooling and analytics around the new EVM, Hyperliquid is streaming raw HyperEVM block data to S3 in real-time. This approach allows developers to index the blockchain without the necessity of running their own nodes, easing the burden on new entrants to the ecosystem.

While the initial release includes key features like spot transfers between native HYPE and HyperEVM HYPE, and the deployment of the WHYPE system contract for DeFi applications, Hyperliquid plans to introduce general ERC20 transfers and precompiles in future upgrades.

This staggered rollout strategy aims to minimize disruption to existing users while adding new functionalities, demonstrating Hyperliquid’s commitment to both innovation and stability.

The Hyperliquid bug bounty program

In tandem with the EVM launch, Hyperliquid has introduced a comprehensive bug bounty program. This initiative is designed to fortify the system’s security by incentivizing developers to find and report vulnerabilities.

Rewards under the bug bounty program can scale up to 1 million USDC, depending on the severity of the security issue identified.

The program covers a broad spectrum of potential vulnerabilities, including those that might cause system outages or errors in the nodes or API servers.

For the HyperEVM on the mainnet, bug hunters can report issues related to the integration of EVM with Hyperliquid’s native functionalities.