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HyperEVM (HYPE)

What is 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 Hyperliquid L1 and HyperEVM.

HyperEVM on GemWallet HyperEVM on GemWallet 2

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.

tip

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

HyperEVM on Gem Wallet​

Gem Wallet has the following features enabled for HyperEVM:

  • Buy HyperEVM (HYPE) with fiat using debit/credit cards.
  • Store HYPE tokens on HyperEVM securely.
  • Send and Receive HYPE tokens on HyperEVM natively.
  • Swap HYPE to HyperEVM ERC20 tokens and vice versa.
  • Swap HYPE to another crypto via Cross-Chain Swap.
  • Swap HYPE on HyperEVM to Hyperliquid L1.
warning

Always double check the HYPE tokens that you are sending to your Gem Wallet HYPE address. Confirm first if the Centralized Exchange (CEX) supports HyperEVM and always remember to do a test transaction when you are trying something for the first time.

What are ERC20 tokens on HyperEVM?​

  • 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.

HyperEVM ERC20 Tokens on GemWallet USDC HyperEVM ERC20 Address

How to Receive HyperEVM (HYPE) with Gem Wallet?​

Here are some ways to acquire some HyperEVM (HYPE):

  • Buy HyperEVM (HYPE) directly on the Gem Wallet app.

Buying HyperEVM (HYPE) with Gem Wallet Buy HyperEVM (HYPE) with Transak

  • Receive HYPE with the unique HyperEVM address on the Gem Wallet app.

Receive HyperEVM (HYPE) with Gem Wallet HyperEVM (HYPE) Received on Gem Wallet

  • Swap HYPE on Hyperliquid L1 directly to HYPE on HyperEVM.

Swap Hyperliquid L1 (HYPE) to HyperEVM (HYPE) with Gem Wallet Swapping Hyperliquid to HyperEVM (HYPE) on Gem Wallet

How to Receive HyperEVM ERC20 Tokens with Gem Wallet?​

  • Your HyperEVM (HYPE) address in Gem Wallet also serves as the unified address for all your HyperEVM ERC20 tokens, simplifying management and transactions.
  • As an example, after adding USDT-ERC20 to your Gem Wallet, tap "Receive" to see your USDT address, which is the same as your HyperEVM address.

USDT HyperEVM ERC20 on Gem Wallet USDT HyperEVM ERC20 Address on Gem Wallet

How to Send HyperEVM (HYPE) with Gem Wallet?​

Tap on Send, then input the Recipient Address manually or use the QR Code Scanner. Next, set the amount of HyperEVM (HYPE) you want to send.

Input HyperEVM Address Specify Amount of HYPE

When sending HyperEVM (HYPE), ensure you have sufficient HYPE in your wallet to cover the network fees. Adjust the Network Fee based on your desired transaction speed. Once ready, Confirm the transaction.

Set Network Fees Ready to Send HYPE

How to Send HyperEVM ERC20 Tokens with Gem Wallet?​

Tap on Send, then input the Recipient Address manually or use the QR Code Scanner. Next, set the amount of USDC you want to send.

Input HyperEVM Address Specify Amount of USDC

When sending HyperEVM ERC20 Tokens, ensure you have sufficient HYPE in your wallet to cover the network fees. Adjust the Network Fee based on your desired transaction speed. Once ready, Confirm the transaction.

Set Network Fees Ready to Send USDC

Can I Swap HyperEVM (HYPE) and HyperEVM ERC20 tokens on Gem Wallet?​

  • You can seamlessly swap HyperEVM (HYPE) for any cryptocurrency supported by cross-chain swaps, and vice versa, allowing flexible conversions between HyperEVM (HYPE) and other compatible cryptocurrencies.

Swap HYPE to SOL Swap ETH to HYPE

  • Effortlessly swap HyperEVM (HYPE) for HyperEVM ERC20 tokens using integrated Decentralized Exchanges (DEXs) for fast, secure, and efficient transactions.

Swap HYPE to HyperEVM ERC20 tokens Swap HYPE to USDC

  • Easily convert HyperEVM ERC20 tokens back to HyperEVM (HYPE).

Swap USDC to HYPE Swap USDC to HYPE Confirm

note

You need to have HYPE in your wallet to pay for network fees, also known as gas fees. These fees are required to process transactions on the HyperEVM (HYPE) blockchain, including token swaps, as each transaction consumes computational resources. Without HYPE to cover these fees, the swap cannot be executed.

Transaction Fees on HyperEVM​

The fees on HyperEVM 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.

Fees for Sending HyperEVM on GemWallet Fees for Swaps on HyperEVM

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See example fees on HyperEVM when trying to send HYPE and when doing a swap.

How to Check HyperEVM (HYPE) Balance?​

Gem Wallet app connects to the HyperEVM 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 HyperEVMScan.

View HYPE Balance Popup HyperEVMScan Balance Screen

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

View HyperEVM Transaction on Gem Wallet View Transaction on HyperEVMScan

Why Choose Gem Wallet for HyperEVM?​

  • Lightning-Fast Transactions: Gem Wallet integrates with HyperEVM, 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.