Hyperliquid Ecosystem Guide: DeFi Apps & OneKey Compatibility

Why Hyperliquid Matters in Today’s DeFi Landscape

Hyperliquid has become one of the most closely watched onchain trading networks because it combines high-performance execution with a design that keeps critical trading infrastructure onchain. For users, that means a more “exchange-like” experience without giving up self-custody. For builders, it means composable liquidity and a growing surface area for DeFi apps.

Two milestones accelerated ecosystem growth:

• HyperEVM mainnet went live on February 18, 2025, bringing Ethereum-compatible smart contracts to Hyperliquid while inheriting the same consensus security as the L1 execution environment. See the official developer overview in Hyperliquid Docs: HyperEVM.
• HIP-3 was activated on October 13, 2025, enabling permissionless perpetual market creation (a key step toward more open derivatives listings). Coverage: CoinDesk on HIP-3.

This guide maps the Hyperliquid ecosystem (HyperCore + HyperEVM), highlights major DeFi apps, and explains what “OneKey compatibility” means in practice for safer participation.

Hyperliquid Architecture: HyperCore vs HyperEVM (and Why Users Should Care)

HyperCore: Trading-Native Infrastructure

HyperCore is where Hyperliquid’s core trading primitives live (spot and perpetuals). If your main goal is active trading, HyperCore is the “home base” where liquidity concentrates.

A key concept many users overlook is that Hyperliquid also supports protocol vaults—notably the Hyperliquidity Provider (HLP) vault, which participates in market making, liquidations, and fee accrual mechanisms. The official description and lock-up mechanics are documented in Hyperliquid Docs: Protocol vaults (HLP).

HyperEVM: Smart Contracts With Direct Proximity to Liquidity

HyperEVM adds an EVM execution environment embedded into Hyperliquid’s system, enabling:

• Familiar Solidity-based development
• DeFi composability (lending, DEX pools, aggregators, vault strategies)
• A path for apps to integrate with Hyperliquid’s liquidity and state

Network-level details (including fee mechanics) are maintained in Hyperliquid Docs: HyperEVM, and the evolving rollout of core features is tracked in the public roadmap: Hyperliquid Wiki: Roadmap.

Getting Started: HyperEVM Network Settings (Wallet-Agnostic)

If your wallet supports adding a custom EVM network, you can connect to HyperEVM using the parameters from the official onboarding guide: Hyperliquid Docs: How to use the HyperEVM.

Network Name: Hyperliquid (HyperEVM)
Chain ID: 999
Currency Symbol: HYPE
RPC URL: https://rpc.hyperliquid.xyz/evm
Explorers (optional):
- https://hyperevmscan.io/

To verify onchain activity and contract addresses, use a block explorer such as HyperEVMScan and its reference docs: What is HyperEVMScan?.

Moving HYPE Between HyperCore and HyperEVM

Hyperliquid supports native transfers between the trading environment and the EVM environment. The canonical mechanism is described in Hyperliquid Docs: HyperEVM, including the well-known transfer address:

0x2222222222222222222222222222222222222222

Always confirm the latest instructions in the official docs before transferring, especially if you are scripting deposits/withdrawals.

Hyperliquid Ecosystem Map: DeFi Apps to Know (HyperEVM + HyperCore)

Below is a practical, user-oriented map of what people actually do in the Hyperliquid ecosystem today.

1) Core Trading + Vault Strategies (HyperCore)

• Spot and perps trading: Hyperliquid’s primary use case remains high-liquidity trading onchain.
• HLP vault participation: For users looking for protocol-native strategy exposure, review mechanics and the 4-day lock-up rule in Protocol vaults (HLP).

User concern to watch: vault strategy PnL can be volatile and is not equivalent to a stable yield product. Understand liquidation and inventory risk before depositing.

2) DEX Liquidity on HyperEVM (Swaps, LP, Token Launches)

As HyperEVM matured, native DEX liquidity became essential for everything from new token discovery to routing collateral.

• HyperSwap (DEX + liquidity hub): project overview and docs at HyperSwap Docs and the app entry at HyperSwap.

Practical tip: when swapping newly launched tokens, verify the token contract on an explorer (for example, HyperEVMScan) and confirm the dApp domain from official documentation channels, not social media replies.

3) Lending Markets and Stablecoin Design (Borrow, Loop, Collateral Efficiency)

Lending is often the first “second layer” DeFi primitive to grow after a chain’s DEX liquidity stabilizes.

• HypurrFi: an overcollateralized lending model built specifically for HyperEVM; overview in HypurrFi Docs: Onchain Lending Protocol.
• Keiko Finance: a lending protocol positioned around predictable rates and Hyperliquid-native collateral; entry point at Keiko Finance.

User concern to watch: looping collateral and borrowing stablecoins can amplify returns and liquidation risk. If you are coming from centralized margin products, treat DeFi liquidations as “always on” and assume volatility can cascade quickly.

4) Bridging and Cross-Chain Access (Where Most Mistakes Happen)

Bridging is still the most common place users lose funds—either due to phishing frontends, wrong networks, or insufficient gas planning.

Common paths into the ecosystem include:

• deBridge: educational overview and bridging context for HyperEVM in deBridge Learn: What is HyperEVM?.
• HyperUnit: focuses on native cross-chain deposits (not just wrapped representations), presented at HyperUnit.

Gas planning reminder: keep enough native gas token (HYPE on HyperEVM) before initiating multi-step transactions (approvals + swaps + deposits). Many “stuck” situations are simply a missing gas budget problem.

5) Data, Explorers, and Developer Tooling (Power Users & Builders)

As activity grows, reliable infra becomes part of the user experience (faster RPCs, better indexing, clearer transaction decoding).

Recommended references:

• Network onboarding and canonical RPC: Hyperliquid Docs: How to use the HyperEVM
• Chain listing convenience: Chainlist: Chain 999
• Explorer reference: HyperEVMScan info center
• Builder-focused RPC directory: Alchemy HyperEVM RPC resources

Security Reality Check: The Ecosystem Is Growing, and So Are Scams

When ecosystems expand quickly, scammers scale even faster—especially around bridges, airdrops, and “points” campaigns.

In the US, regulators have repeatedly highlighted crypto scam losses. For example, the Federal Trade Commission reported over $1 billion in crypto scam losses reported since 2021 (time-bounded to their study period): FTC Data Spotlight.

Actionable habits for HyperEVM users:

• Bookmark official docs and ecosystem entry points; avoid “sponsored” search ads.
• Use an explorer (like HyperEVMScan) to confirm contract addresses before approvals.
• Treat token approvals as permissions—revoke or reduce allowances when possible.
• Prefer hardware-backed signing for high-value wallets.

OneKey Compatibility: What It Means for HyperEVM Users

1) HyperEVM Works Like Any Other EVM Network (From a Signing Perspective)

HyperEVM uses standard EVM transaction formats, so the critical requirement is simple:

• Your wallet stack must support custom EVM networks (Chain ID 999)
• You must be able to review and sign contract interactions (swaps, lending deposits, approvals)

This makes HyperEVM a natural fit for self-custody workflows where you want stricter control over approvals and signatures.

2) Why Pair HyperEVM DeFi With a OneKey Hardware Wallet

HyperEVM activity often involves multiple transactions (approve → swap → deposit → borrow). Each extra signature is another chance for mistakes—especially when interacting with new contracts.

Using a OneKey hardware wallet can help because:

• Private keys stay offline, reducing exposure to browser malware and clipboard attacks
• You confirm transactions on-device, which is a strong defense against silent background signing
• OneKey’s open-source approach and self-custody design align with the “verify, don’t trust” mindset common in DeFi operations

3) Practical Workflow (Safe-by-Default)

• Add HyperEVM using the official parameters in How to use the HyperEVM
• Use trusted dApps (DEX, lending, bridge) from known domains (bookmark them)
• Verify tokens and contracts on HyperEVMScan
• Sign high-value transactions with a OneKey hardware wallet, especially:
  • Unlimited approvals
  • Lending collateral deposits
  • Bridge withdrawals
  • Vault deposits

Closing Thoughts: Hyperliquid Is Becoming a Full DeFi Stack

Hyperliquid’s trajectory—from a trading-focused system to a broader DeFi platform—has been defined by HyperEVM programmability and permissionless market expansion (HIP-3). The result is an ecosystem where trading, lending, and liquidity can converge around the same performance and liquidity core.

If you’re exploring HyperEVM seriously, consider separating roles:

• A “hot” wallet for low-risk experimentation
• A OneKey-secured wallet for serious capital, long-term positions, and vault/lending workflows

In fast-moving ecosystems, the edge is rarely just speed—it’s operational safety and disciplined transaction hygiene.