{"id":"hypercore","title":"HyperCore","content":"**HyperCore** is the native, non-EVM execution and state layer of the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) [L1](https://iq.wiki/wiki/layer-1) [blockchain](https://iq.wiki/wiki/blockchain), serving as the core engine for the protocol's primary trading functions. It is responsible for managing the decentralized perpetuals exchange's on-chain order matching engine, margin system, spot asset balances, vault strategies, and staking mechanisms. HyperCore operates in a dual-environment architecture alongside HyperEVM, a general-purpose, EVM-compatible layer for smart contracts, enabling a high degree of composability between [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) applications and the exchange's core infrastructure. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws) [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)​\n\n## Overview\n\nHyperCore is the foundational state machine and logic layer of the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) protocol. A central design principle of HyperCore is full decentralization; it does not utilize off-chain order books, instead relying on its consensus mechanism to establish a single, canonical ordering of all transactions and platform activities, including order matching. This on-chain approach is engineered to deliver high performance to support both retail and automated trading strategies. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\nThe [Hyperliquid](https://iq.wiki/wiki/hyperliquid) chain's state is divided into two distinct but deeply integrated components. HyperCore is the specialized environment that executes the core trading logic with a focus on speed and efficiency for financial transactions. Its counterpart, HyperEVM, is a fully EVM-compatible environment that runs [Solidity](https://iq.wiki/wiki/solidity) smart contracts, allowing developers to deploy a wide range of DeFi applications directly on the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) network. This dual-environment architecture creates a hybrid system that combines the performance of a traditional order book with the flexible composability of decentralized applications. Key functionalities managed by HyperCore include the perpetuals order book, spot balances, vault management, and staking delegations. The deep integration between the two layers allows smart contracts on HyperEVM to read data from and send instructions to HyperCore, enabling the development of advanced on-chain products that can interact directly with the exchange's core state. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws) [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\n## Architecture and Technology\n\nThe architecture of [Hyperliquid](https://iq.wiki/wiki/hyperliquid) is designed around the interplay of its consensus mechanism and its dual-execution environments, with HyperCore at the center of its trading operations.\n\n### Consensus Mechanism: HyperBFT\n\nHyperCore is secured by a proprietary consensus algorithm named HyperBFT, which is a variant of the HotStuff consensus model. It operates on a Proof-of-Stake (PoS) basis, where validators are selected to produce blocks in proportion to the quantity of native tokens staked to them. The HyperBFT algorithm is specifically optimized to minimize end-to-end latency, which is defined as the total time from when a user submits a request to when a committed response is received. This focus on latency reduction is critical for supporting high-frequency trading and providing a responsive user experience. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\n### Dual-Environment Execution\n\nThe [Hyperliquid](https://iq.wiki/wiki/hyperliquid) L1 features a dual-environment architecture that separates specialized trading functions from general-purpose computation:\n\n* **HyperCore:** This is the high-performance state machine optimized for the exchange's core operations. It handles all critical financial activities, such as order matching, margin calculations, and account state management for the perpetuals and spot markets.\n* **HyperEVM:** This is a fully EVM-compatible environment that supports the deployment and execution of [Solidity](https://iq.wiki/wiki/solidity) smart contracts. It allows developers to build DeFi applications, structured products, yield aggregators, and other on-chain services within the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) ecosystem.\n\nThe integration between these two environments allows applications on HyperEVM to programmatically access and interact with the trading and account data managed by HyperCore, creating a unified platform for both trading and broader DeFi activities. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws) [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\n## Performance\n\nHyperCore was engineered to achieve performance metrics comparable to both centralized and decentralized exchanges, focusing on low latency and high throughput.\n\n### Latency\n\nThe platform's end-to-end latency, when accessed from a geographically co-located client, exhibits the following performance characteristics:\n\n* **Median Latency:** 0.2 seconds\n* **99th Percentile Latency:** 0.9 seconds\n\nThis level of low latency is sufficient for the deployment of many automated and high-frequency trading strategies with minimal modifications from other cryptocurrency venues. For retail users, it translates to an \"instant feedback\" experience when interacting with the trading user interface. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\n### Throughput\n\nHyperCore is designed to handle a high volume of transactions. The mainnet has demonstrated a capacity of approximately 200,000 orders per second. According to the project's documentation, the primary constraint on throughput is the execution logic itself, rather than the underlying consensus and networking stack. The HyperBFT consensus layer is reportedly capable of scaling to support millions of orders per second, with ongoing plans to further optimize the execution logic as demand grows. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)\n\n## Interaction Between HyperCore and HyperEVM\n\nThe interaction model between HyperCore and HyperEVM is a defining feature of the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) architecture, enabling smart contracts to communicate with the core exchange logic through a secure and standardized interface.\n\n### Overview of Integration\n\nOn March 25, 2025, [Hyperliquid](https://iq.wiki/wiki/hyperliquid) announced a significant technical update that enabled direct linking and seamless transfer of tokens between HyperCore and HyperEVM. This integration was designed to improve capital efficiency, enhance DeFi composability, and reduce security risks by eliminating the need for third-party bridges, which are frequent targets of exploits. The process was likened to making an instant, free transfer between a checking account (HyperEVM) and a brokerage account (HyperCore) within the same financial institution. Interactions are facilitated exclusively through a set of precompiled contracts, which are hardcoded contracts at fixed addresses that provide a secure and efficient Application Binary Interface (ABI) to the HyperCore state machine. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3) [\\[3\\]](#cite-id-bwEGZiohMKxtir1Q)\n\n### Reading State from HyperCore\n\nSmart contracts on HyperEVM can query real-time data from HyperCore using a set of dedicated read precompiles. This allows decentralized applications to access critical protocol information directly within their on-chain logic.\n\n* **Precompile Address Range:** The read precompiles start at the address `0x0000000000000000000000000000000000000800`.\n* **Functionality:** These precompiles enable contracts to query data such as perpetuals positions, spot balances, vault equity, staking delegations, oracle prices, and the L1 block number.\n* **Data Consistency:** The values returned are guaranteed to match the latest HyperCore state at the moment the HyperEVM block is constructed.\n* **Gas Cost:** A call to a read precompile costs `2000 + 65 * (input_len + output_len)` gas.\n* **Error Handling:** Calls with invalid inputs, such as querying a non-existent asset, will return an error and consume all gas allocated to the call frame.\n* **Developer Resource:** The complete functionality of these read precompiles is detailed in the `L1Read.sol` interface file. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws)\n\n### Writing Actions to HyperCore\n\nTo execute state changes on HyperCore, such as placing an order or transferring funds, HyperEVM contracts must interact with the `CoreWriter` system contract.\n\n* **Contract Address:** The `CoreWriter` contract is located at the fixed address `0x3333333333333333333333333333333333333333`.\n* **Mechanism:** A smart contract calls the `sendRawAction(bytes memory data)` function on the `CoreWriter`. The `CoreWriter` contract then emits a log containing the encoded action data. This log is subsequently processed by the HyperCore layer, which then executes the requested action.\n* **Gas Cost:** A base call to this contract burns approximately 25,000 gas, with a typical basic call costing around 47,000 gas total.\n* **Latency Prevention:** To prevent users from gaining a latency advantage by bypassing the standard L1 mempool, `order` and `vault transfer` actions submitted through the `CoreWriter` are intentionally delayed on-chain for a few seconds. These delayed actions will appear twice on the L1 explorer: first as an \"enqueuing\" transaction, and later as the final \"HyperCore execution\" transaction.\n* **Developer Resource:** The contract's interface is described in the `CoreWriter.sol` file. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws)\n\n## Token Transfers and Linking\n\nThe native integration for asset transfers between HyperCore and HyperEVM aims to provide a secure and user-friendly alternative to external bridges.\n\n### Core Spot and EVM Spot Tokens\n\nThe system distinguishes between two representations of a token within the ecosystem:\n\n* **Core spot tokens:** These are tokens native to HyperCore, used directly for trading on the exchange.\n* **EVM spot tokens:** These are the linked counterparts of Core spot tokens on the HyperEVM layer, represented as standard ERC-20 contracts. [\\[3\\]](#cite-id-bwEGZiohMKxtir1Q)\n\n### The Linking Process\n\nFor a token to be transferable between the two environments, it must be officially linked by its creator, known as the \"spot deployer.\" The process involves several steps to ensure consistency and security:\n\n1. **Initiation:** The spot deployer begins the process.\n2. **Supply Reconciliation:** The deployer must ensure that the token's total supply is identical on both HyperCore and the proposed ERC-20 contract on HyperEVM.\n3. **Proposal Transaction:** The deployer sends a `spot deploy action` to HyperCore, proposing the specific ERC-20 contract on HyperEVM to be paired with their Core spot token.\n4. **Ownership Verification:** The deployer must prove ownership of the EVM contract. The method depends on the deployer's account type:\n   * **Externally Owned Account (EOA):** The individual must confirm the link by sending a transaction with a specific, designated nonce.\n   * **Contract-based Deployer (e.g., a multisig wallet):** The first storage slot (`slot 0`) of the deploying contract on HyperEVM must contain the address of the HyperCore deployer.\n5. **Finalization:** A final `finalize` action is executed, which locks in the link and officially establishes the connection between the Core spot asset and the EVM spot token. After this, transfers can be made via a `spotSend` on HyperCore or a standard ERC-20 transfer on HyperEVM.\n\nAt the time of the March 2025 announcement, technical documentation acknowledged risks associated with this process, including the potential for users to interact with unverified contracts and the risk of supply mismatches if not managed correctly by the deployer. [\\[3\\]](#cite-id-bwEGZiohMKxtir1Q)\n\n### Special Case: HYPE Token\n\nThe HYPE token, which serves as the native gas token for the HyperEVM layer, follows a unique and simplified transfer process that does not require the formal linking procedure.\n\n* **HyperCore to HyperEVM:** When HYPE is sent from HyperCore using a `spotSend` action, it automatically becomes available as native gas on the destination address on HyperEVM.\n* **HyperEVM to HyperCore:** To move HYPE back to the trading layer, a user sends it to the designated system address `0x222` on HyperEVM. An event log generated by this transaction instantly credits the user's balance on HyperCore. [\\[3\\]](#cite-id-bwEGZiohMKxtir1Q)\n\n## Technical Specifications\n\nInteractions with HyperCore from HyperEVM are governed by specific data encoding standards and a defined set of actions and precompiled contracts.\n\n### Action Encoding\n\nActions sent to the `CoreWriter` contract must follow a specific byte-encoded format to be correctly interpreted and executed by HyperCore.\n\n* **Byte 1:** Encoding Version. This is an 8-bit integer that allows for future backward-compatible upgrades to the action format. Version `1` is the current standard.\n* **Bytes 2-4:** Action ID. This is a three-byte, big-endian unsigned integer that identifies the specific action to be performed (e.g., place order, deposit vault).\n* **Remaining Bytes:** Action Data. This field contains the raw, ABI-encoded parameters for the specified action. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws)\n\n### HyperCore Actions from HyperEVM\n\nThe following is a list of actions that can be triggered on HyperCore from a HyperEVM smart contract by sending the corresponding encoded data to the `CoreWriter` contract.\n\n* **Action ID 1: Limit order**\n  * **Parameters:** `(uint32 asset, bool isBuy, uint64 limitPx, uint64 sz, bool reduceOnly, uint8 encodedTif, uint128 cloid)`\n  * **Notes:** `encodedTif` specifies the Time-in-Force: 1 for `Alo` (All-or-None), 2 for `Gtc` (Good-til-Canceled), 3 for `Ioc` (Immediate-or-Cancel). A `cloid` (client-side order ID) of 0 indicates none is provided.\n* **Action ID 2: Vault transfer**\n  * **Parameters:** `(address vault, bool isDeposit, uint64 usd)`\n  * **Notes:** Transfers USD collateral to or from a specified vault strategy.\n* **Action ID 3: Token delegate**\n  * **Parameters:** `(address validator, uint64 wei, bool isUndelegate)`\n  * **Notes:** Delegates or undelegates native tokens to a validator for staking.\n* **Action ID 4: Staking deposit**\n  * **Parameters:** `(uint64 wei)`\n  * **Notes:** Deposits collateral into the staking contract.\n* **Action ID 5: Staking withdraw**\n  * **Parameters:** `(uint64 wei)`\n  * **Notes:** Withdraws collateral from the staking contract.\n* **Action ID 6: Spot send**\n  * **Parameters:** `(address destination, uint64 token, uint64 wei)`\n  * **Notes:** Sends a spot token to another [Hyperliquid](https://iq.wiki/wiki/hyperliquid) address.\n* **Action ID 7: USD class transfer**\n  * **Parameters:** `(uint64 ntl, bool toPerp)`\n  * **Notes:** Transfers USD value between a user's perpetuals margin account and their spot balance.\n* **Action ID 8: Finalize EVM Contract**\n  * **Parameters:** `(uint64 token, uint8 encodedFinalizeEvmContractVariant, uint64 createNonce)`\n  * **Notes:** Used internally during the creation process of certain contracts.\n* **Action ID 9: Add API wallet**\n  * **Parameters:** `(address apiWalletAddress, string apiWalletName)`\n  * **Notes:** Manages API wallets. An empty name designates the wallet as the main agent.\n* **Action ID 10: Cancel order by oid**\n  * **Parameters:** `(uint32 asset, uint64 oid)`\n  * **Notes:** Cancels a specific order using its unique Order ID (oid).\n* **Action ID 11: Cancel order by cloid**\n  * **Parameters:** `(uint32 asset, uint128 cloid)`\n  * **Notes:** Cancels a specific order using its client-side Order ID (cloid).\n* **Action ID 12: Approve builder fee**\n  * **Parameters:** `(uint64 maxFeeRate, address builderAddress)`\n  * **Notes:** Approves a maximum fee rate (in decibps, or 1/1000 of a basis point) for a transaction builder.\n* **Action ID 13: Send asset**\n  * **Parameters:** `(address destination, address subAccount, uint32 source_dex, uint32 destination_dex, uint64 token, uint64 wei)`\n  * **Notes:** An advanced asset transfer with options for specifying sub-accounts and dex routing.\n* **Action ID 14: Reflect EVM supply change**\n  * **Parameters:** `(uint64 token, uint64 wei, bool is_mint)`\n  * **Notes:** For aligned quote tokens, this action reflects a supply change (mint/burn) from the EVM layer onto the HyperCore state.\n* **Action ID 15: Borrow/Lend Operation (Testnet-only)**\n  * **Parameters:** `(uint8 encodedOperation, uint64 token, uint64 wei)`\n  * **Notes:** `encodedOperation` of 0 for `Supply` and 1 for `Withdraw`. Used for interacting with a testnet-only borrow/lend protocol.\n\nA comprehensive list of these actions and their technical specifications are available for developers in the [Hyperliquid](https://iq.wiki/wiki/hyperliquid) documentation. [\\[1\\]](#cite-id-0XNUC7lHK3MM4lws)\n\n### System Precompiled Contracts\n\nIn addition to the `CoreWriter`, several other precompiled contracts at fixed addresses provide direct access to HyperCore modules from HyperEVM.\n\n* **Clearinghouse (`0x0...0001`):** The primary contract for user-level trading interactions, such as depositing and withdrawing funds, and placing or canceling orders.\n* **Oracle (`0x0...0002`):** Used to query asset price information from HyperCore's native oracle module.\n* **Vaults (`0x0...0003`):** Provides an interface for interacting with Hyperliquid's native vault strategies.\n\nThese precompiles provide a standardized and gas-efficient method for developers on HyperEVM to build applications that are deeply integrated with the core exchange functionality. [\\[2\\]](#cite-id-xFNwVT6B4JvXElY3)","summary":"HyperCore is the native, non-EVM execution layer of the Hyperliquid L1 blockchain. It manages the perpetuals order book, spot balances, and staking, operating alongside the EVM-compatible HyperEVM to enable advanced on-chain composability.","images":[{"id":"QmRdrgnxcV3Ud9b4o8zg6FerTL44mn3Jik1GHqSd9Yz38s","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Protocols"}],"media":[{"id":"QmQ7VjgNeNxsGwCXXnxoxDMD6woqoijS23jepGZG8FF54a","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmX7kN5HY1xHuEnjqAFXrKibGz3RKp2EHvwPTdtbLF3Khk","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmNfvqDHe5YfF8bukQdfDXiYRytHqbSzjzww6pyBbaHbCr","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmeMpBeXN4HEo3Sv4tmEN1A8N2D2KhdA4aWcpEbZfGEAEj","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmUmo7orkkSJJ64ML76NX1birTziCf83PCHc11G389B1QZ","type":"GALLERY","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[\n  {\n    \"id\": \"0XNUC7lHK3MM4lws\",\n    \"url\": \"https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/hyperevm/interacting-with-hypercore\",\n    \"description\": \"Hyperliquid Docs - Interacting with HyperCore\",\n    \"timestamp\": 1770051307930\n  },\n  {\n    \"id\": \"xFNwVT6B4JvXElY3\",\n    \"url\": \"https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/overview\",\n    \"description\": \"Hyperliquid Docs - HyperCore Overview\",\n    \"timestamp\": 1770051307930\n  },\n  {\n    \"id\": \"bwEGZiohMKxtir1Q\",\n    \"url\": \"https://www.coindesk.com/tech/2025/03/25/hyperliquid-eases-token-transfers-for-defi-with-integration-between-hypercore-and-hyperevm\",\n    \"description\": \"CoinDesk report on Hyperliquid integration\",\n    \"timestamp\": 1770051307930\n  }\n]"},{"id":"website","value":"https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/overview"},{"id":"commit-message","value":"\"Added HyperCore content and defi category\""}],"events":[{"id":"56ca5017-14ef-4a69-857a-b6981154ce65","date":"2025-03","title":"HyperCore and HyperEVM Integration","type":"DEFAULT","description":"Hyperliquid announced a technical update enabling the direct linking and seamless transfer of tokens between HyperCore and HyperEVM to improve capital efficiency and security.","link":"https://www.coindesk.com/tech/2025/03/25/hyperliquid-eases-token-transfers-for-defi-with-integration-between-hypercore-and-hyperevm","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"operator":{"id":"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}