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Hyperliquid (HYPE)

What is Hyperliquid and HyperEVM?​

Hyperliquid is a high-performance Layer 1 blockchain ecosystem composed of two integrated components: the Hyperliquid L1 and HyperEVM. The Hyperliquid L1 serves as the foundational chain, offering a fully on-chain order book for spot and perpetual futures trading, powered by the HyperBFT consensus mechanism for sub-second transaction speeds and deep liquidity, with HYPE as its native token.

Built directly into this L1, HyperEVM is an Ethereum Virtual Machine launched on February 18, 2025, adding Ethereum-compatible smart contract functionality. Together, these two chains enable a unified platform where Hyperliquid L1 handles core trading infrastructure and HyperEVM extends programmability, blending speed, scalability, and DeFi innovation into a single cohesive system.

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Gem Wallet natively supports HyperEVM.

Here are 5 key points about the HyperEVM:

  • HyperEVM is not a separate chain but part of the Hyperliquid L1, allowing smart contracts to directly access and interact with native components like on-chain order books and liquidity pools.

  • It inherits the security and speed of Hyperliquid’s HyperBFT consensus mechanism, which offers sub-second block confirmation times (median latency of 0.2 seconds).

  • The Hyperliquid token, HYPE, serves as the gas token for HyperEVM transactions. It’s fungible across the L1 and Hyperliquid, enabling seamless spot transfers between the two environments and supporting a unified ecosystem.

  • HyperEVM supports Ethereum’s infrastructure, including tools like Solidity and existing ERC-20 token standards. Developers can port or build applications with minimal changes, leveraging Ethereum’s established ecosystem while benefiting from Hyperliquid’s performance.

  • With the ability to process transactions quickly and access deep on-chain liquidity, Hyperliquid enables developers to create advanced DeFi applications—such as lending protocols or trading tools—that operate with low latency and minimal fees, tailored to Hyperliquid’s high-throughput design.

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Learn more about Hyperliquid by reading the Gem Wallet Learn article:
What Is Hyperliquid?

Hyperliquid on Gem Wallet​

Gem Wallet has the following features enabled for Hyperliquid:

Hyperliquid on GemWallet Hyperliquid on GemWallet 2

What are ERC20 tokens on Hyperliquid?​

  • ERC20 tokens on the Hyperliquid blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Hyperliquid ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Hyperliquid's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Hyperliquid incur significantly lower fees compared to those on the Ethereum network.

How to Get HYPE Tokens?​

Here are some ways to acquire some Arbitrum Ethereum (ETH):

  • Receive Hyperliquid (HYPE) with the unique HYPE address on the Gem Wallet app.
  • Transfer HYPE tokens from Hyperliquid L1 to HyperEVM.

Enable Hyperliquid on GemWallet Receive Hyperliquid on GemWallet

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  • Manually enable Hyperliquid by tapping on the Manage Token List.
  • Send only HYPE tokens that are on HyperEVM to see them right away on your wallet.

Transaction Fees on HyperEVM​

The fees on Hyperliquid are summarized as follows:

  • Fees on HyperEVM are paid using HYPE, the native token of the Hyperliquid ecosystem. This ensures a consistent fee structure across both the Hyperliquid L1 and HyperEVM, simplifying transactions and interactions within the platform.

  • Leveraging Hyperliquid’s high-performance design and HyperBFT consensus, HyperEVM offers minimal gas fees compared to traditional Ethereum networks. The sub-second block times and efficient architecture reduce computational overhead, keeping costs low for users and developers.

  • Fees on HyperEVM are designed to remain economical even as transaction volume grows, thanks to the L1’s ability to process high throughput (up to thousands of transactions per second). This scalability supports complex dApps and frequent interactions without fee spikes, aligning with Hyperliquid’s focus on accessible DeFi.

Send Hyperliquid on GemWallet Hyperliquid Fees on GemWallet

How to Check Hyperliquid (HYPE) Balance?​

Gem Wallet app connects to the Hyperliquid Blockchain to show the HYPE balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on Blockscout.

View HYPE Balance Screen HYPE Transaction Screen

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Blockscout is the default HyperEVM explorer of Gem Wallet. You can manually check balances and transactions by going to Blockscout and search for your HYPE address.

View Balance on SonicScan View Transaction on SonicScan

Why Choose Gem Wallet for Hyperliquid?​

  • Lightning-Fast Transactions: Gem Wallet integrates with Hyperliquid L1, offering optimized speeds for high-frequency trading. This means you can execute trades quickly and efficiently, taking full advantage of Hyperliquid’s sub-second block times—perfect for active traders who need rapid on-chain performance.

  • Cost Efficiency: With Hyperliquid’s low-fee structure and Gem Wallet’s seamless support, you can minimize transaction costs. Gem Wallet ensures you’re not overpaying on gas fees while managing HYPE tokens or engaging in DeFi activities, making it a practical choice for cost-conscious users.

  • Self-Custody Control: Gem Wallet is an open-source, non-custodial wallet, meaning you retain full ownership of your private keys and assets. This aligns well with Hyperliquid’s decentralized ethos, giving you secure and direct access to your funds without relying on third-party intermediaries.

Conclusion

Hyperliquid stands out as a powerful Layer 1 blockchain ecosystem, blending the high-performance trading capabilities of Hyperliquid L1 with the Ethereum-compatible programmability of HyperEVM. This dual-chain structure, secured by the HyperBFT consensus and fueled by the HYPE token, offers a fast, scalable, and cost-efficient platform for decentralized finance and trading applications. With sub-second transaction speeds, low fees, and seamless integration of smart contracts, Hyperliquid is well-positioned to drive innovation in the DeFi space. Adding to its appeal, Gem Wallet provides robust support for Hyperliquid, offering users a fast, cost-effective, and self-custodial solution to manage their HYPE tokens and engage with the ecosystem securely. Together, Hyperliquid and Gem Wallet deliver a compelling combination of performance and accessibility for traders and developers alike.