Three patterns we’re seeing across HyperCore × HyperEVM (and why the third one is the moat). Hyperliquid (@hyperliquidx) pairs a high‑throughput perp engine (HyperCore) with a programmable execution layer (HyperEVM). The split between HyperCore for perps/spot and HyperEVM is creating this weird proximity effect: A really (really) fast matching engine sitting right next to programmable logic. Perps, spot, credit, and custom markets (HIP‑3) lets teams compose funding, carry, and collateral flows together. CoreWriter launched on July 5th and flipped the entire game. Before that, contracts could only read from Core. Now they can write to it, submit orders, rebalance vaults, trigger staking directly from EVM contracts. That’s why we’re excited about new mechanisms and designs.. After digging through what's actually getting traction, everything falls into (roughly) three distinct patterns:
Apps that feel native (because they are)
These apps use HyperCore as their execution engine, pure speed. Self‑custodial, mobile‑first, and fast. This is where users first feel the throughput. They prove Core’s edge by converting latency into UX. Take @dexaridotcom for example, it’s a mobile trading app that feels as smooth as Robinhood but it’s actually fully self-custodial. You can trade perpetuals and spot markets right from your phone. Then there’s @axiomexchange, Pro‑grade tooling pulling traditional traders into HL.. It’s built for people who need serious tools. Pear (@pear_protocol) is facilitating one-click pair trading @pvp_dot_trade lets users long and short tokens together in telegram groups.
EVM products (existing primitives, new wrappers/incentives and smarter plumbing)
Every new EVM gets its lending protocols and Dexes. HyperEVM is no different, but there's something interesting happening here. They are starting to integrate deeply with the trading engine. These stock the aisle and absorb capital quickly. HyperLend (@hyperlendx) has about $453M locked up (as of Aug 13). They were first to figure out liquidations using three different paths, some through EVM, some through Core's orderbook, some bridging between both. Felix @felixprotocol(a licensed @morpholabs and @LiquityProtocol fork) — TVL ~$387M (Aug 13). Liquity‑style CDPs (feUSD) + vanilla lending; also launched USDhl, a fiat‑backed Hyperliquid‑native stablecoin built with M0, and crossed $100M+ loans earlier this summer. HypurrFi @hypurrfi($174M TVL) had a rough patch when their stablecoin depegged in May. They capped new mints at $5M, fixed the mechanism, and got back to building. Valantis (@valantislabs) is a modular DEX protocol that lets developers create custom, composable AMMs. Valantis uses Sovereign Pools and shared liquidity vaults to mitigate fragmentation. Harmonix (@harmonixfi) is a vault-based yield farming protocol on Hyperliquid. HarmonixFi lets users deposit assets into strategy vaults.
Core × EVM compositions (The actually interesting stuff)
This is why we're here. These products couldn't exist anywhere else as they need both the trading engine and the smart contracts working together in perfect harmony. This is where structural edge accrues: tighter capital loops, programmable hedging in the lending stack, and block‑by‑block reallocation using live risk. Liminal (@liminalmoney) built something beautiful: They automate delta-neutral strategies. You earn funding rates without taking any directional risk. It's like earning interest without the stress of price movements. Rysk (@ryskfinance)is bringing options to Hyperliquid, through hedging their options using CoreWriter to place orders directly on hypercore. This turns complex options strategies into simple contract calls. Kinetiq (@kinetiq_xyz) : kHYPE solved liquid staking for HYPE tokens. You stake on Core, get a liquid receipt on EVM, and can use that receipt in other DeFi protocols. Simple concept, but the execution required CoreWriter to make it seamless. Unit (@hyperunit) is building a decentralized asset tokenization layer built exclusively on Hyperliquid. Hyperbeat (@0xhyperbeat) lets users lend assets to earn interest or borrow against collateral for trading on Hyperliquid. It integrates with Hyperliquid’s order book engine – meaning borrowed funds can seamlessly trade on HyperCore markets – and uses dynamic interest rates based on demand Ventuals (@ventuals_) is making private markets public. Delpho (@delpho_labs) is building Hyperliquid‑Native Money And soon, with HIP-3, anyone will be able to create custom perpetual markets. Think prediction markets, meme coin perps, or whatever creative financial instruments builders dream up all settled through hypercore.
Our view (and a small tease)
Type 1 onboards; Type 2 stocks the shelves. But the durable moat forms in Type 3, where Core speed and EVM programmability create primitives that don’t back‑port cleanly elsewhere. We’re wiring Core funding, borrowing, options, and receipts into single machines and stress‑testing live. Specifics soon. If you want to follow along our journey, follow @rosetta_hl.