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How HyperCore and HyperEVM Spot Token Transfers Are Linked

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Summary

The document explains how linked spot assets move between Hyperliquid’s HyperCore and HyperEVM. A token must first be linked to an EVM contract; transfers from Core use a sendAsset action directed to the token’s system address, while transfers from the EVM use an ERC20 transfer to that address. The system credits the receiving side based on a contract transfer call or an emitted Transfer event. HYPE is handled specially as the native EVM gas token, with a system contract receiving value to initiate transfers back to Core.

It also describes the linking process, including a deployer’s action and a finalization step that verifies intent, and gives indicative gas-cost information. The central caveat is that the system does not ensure a linked contract is a valid ERC20 or that its system address has enough supply. Contract behavior and balances therefore need independent verification; mismatched decimal precision can also cause a fractional amount to be burned. These mechanics explain operational risks but provide no trading performance evidence.

Key ideas

  • Core and EVM spot assets must be linked before transfers between them can work.
  • Core-to-EVM transfers use a sendAsset action, while EVM-to-Core transfers use a token transfer to the system address.
  • HYPE moves as the native EVM asset and uses a system contract for transfers back to Core.
  • The system does not validate the linked contract’s ERC20 behavior or sufficient supply.
  • Decimal mismatches can cause a fractional transfer amount to be burned.

Tags

CryptoSpot marketsExecutionRisk management

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.