New to Hyperliquid in 2026? Start Here with OneKey

Why Hyperliquid is a big deal in 2026

Hyperliquid has grown from a high-performance onchain trading venue into a broader ecosystem where trading, assets, and smart contracts can live on the same chain. For users, that means a simpler path to:

• Trade perpetuals with CEX-like speed, while keeping a self-custodial posture
• Move between trading (HyperCore) and apps (HyperEVM) without constantly hopping chains
• Use HYPE as both a network token and, on HyperEVM, the gas token

If you’re catching up: Hyperliquid’s HYPE genesis distribution on November 29, 2024 became one of the most discussed community-first events in crypto, with 310 million HYPE distributed and a larger portion of supply reserved for future community emissions (Cointelegraph coverage, CoinMarketCap Academy overview).

Hyperliquid’s two “layers”: HyperCore vs HyperEVM (in plain English)

HyperCore: trading-first infrastructure

HyperCore is where Hyperliquid’s core trading experience lives (order books, perps, spot). In practice, this is the side most new users touch first: deposit collateral, trade, manage positions, withdraw.

A useful mental model:

• HyperCore = trading state (balances, positions, order books)
• You usually deposit USDC collateral and trade without paying gas for typical trading actions

For the most current onboarding flow, start with the official guide: How to start trading (Hyperliquid Docs).

HyperEVM: the app layer secured by the same consensus

HyperEVM is an Ethereum-compatible environment embedded into Hyperliquid’s execution. It uses:

• Chain ID: 999
• RPC: https://rpc.hyperliquid.xyz/evm
• HYPE as the gas token
• EIP-1559 style fees (with fee burning mechanics)

Details here: HyperEVM (Hyperliquid Docs).

If you want the broader context of EIP-1559 itself, see: EIP-1559 specification.

A safe “first hour” checklist (do this before you trade)

1) Decide what stays hot vs what stays cold

Perp trading is fast and convenient—but it’s also the area where mistakes happen fastest (phishing signatures, wrong networks, risky leverage).

A practical setup many serious users follow:

• Cold (hardware wallet): long-term holdings + high-value approvals
• Hot (software wallet): smaller trading float, rotated regularly

This is where a hardware wallet like OneKey fits naturally: it keeps private keys off your computer/phone and turns “signing” into a deliberate, on-device confirmation step—especially helpful when you start interacting with HyperEVM dApps.

2) Know your two “address worlds”

Hyperliquid introduces an important habit:

• Your EVM address is used for deposits / withdrawals / wallet auth
• Your trading activity happens inside Hyperliquid’s system (HyperCore state), but still tied to your wallet identity

So: treat address verification as part of risk management, not as a formality.