Hyperliquid Simplifies Token Transfers for DeFi with HyperCore and HyperEVM Integration

Hyperliquid Makes DeFi Token Transfers Easier with HyperCore and HyperEVM Integration

Moving assets between blockchains or within their second-layer services isn't always seamless, but the Hyperliquid update makes the process easier for users and developers.

Posted by Shaurya Malwa | Edited by: Parikshit Mishra Updated: March 25, 2025 14:26 UTC Published: March 25, 2025 13:40 UTC

What you need to know:

• Hyperliquid's technical upgrade allows tokens on the HyperCore and HyperEVM platforms to directly connect, simplifying the process for decentralized finance (DeFi) users and developers.
• The pairing process involves a “spot deployment” that ensures that both parties have matching token supplies, offers an ERC20 contract to HyperEVM to pair with their token, and a verification process.
• This update allows users to interact with the Ethereum DeFi ecosystem without leaving the Hyperliquid ecosystem and reduces the need for third-party intermediaries that have become a security risk in recent years.

The decentralized finance (DeFi) sector is one of the main drivers of value accumulation and revenue generation for crypto projects, but its complexity often leaves users confused among blockchains, bridges, wallets, and tokens.

However, a technical update from Hyperliquid makes this process easier for both developers and users, as it is now possible to directly link tokens to the HyperCore and HyperEVM platforms.

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HyperCore is a native platform for spot assets (tokens that can be traded directly), while HyperEVM is the Ethereum Virtual Machine (EVM) network that runs smart contracts on Ethereum.

Tokens on HyperCore, known as “Core spots,” can be linked to their counterparts on HyperEVM, called “EVM spots.” Once linked, users can transfer them using simple operations — such as “spotSend” on HyperCore or standard ERC-20 transfers on HyperEVM.

The linking of the underlying spot token to the EVM spot token is not automatic. The process begins with the token's “spot deployer” or the entity behind it, which ensures that the token supply on both sides of the transaction matches.

They then initiate a “local deployment action” on HyperCore, proposing an ERC-20 contract on HyperEVM to pair with their token.

Next comes verification. If the EVM contract was deployed directly by an individual, they verify this with a unique transaction nonce (a unique number assigned to each transfer on the blockchain).

If it was deployed by another contract (such as multisig for extra security), the first storage slot of the contract should point to the address of the HyperCore deployer. Finally, the “finalize” action locks it all in place – ensuring that both parties agree on the reference.

The peg permission allows users to connect to the Ethereum DeFi ecosystem, such as lending, borrowing, and trading, without leaving the Hyperliquid ecosystem entirely.

Why is this important?

But why does this matter? Because moving tokens between ecosystems is not a simple process.

Consider Ethereum, where billions are locked up in protocols like Aave or Uniswap. If someone wants to send a token from another network, say Solana, they need a bridge — a third-party service that locks your tokens on one side and issues a wrapped version on the other. This comes with a security risk, as bridges remain some of the most vulnerable blockchain services.

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