Hyperliquid launches its general-purpose EVM and unveils bug bounty program

  • Hyperliquid has launched its general-purpose EVM dubbed HyperEVM.
  • The HyperEVM integrates with Hyperliquid’s L1 consensus mechanism for security.
  • The Hyperliquid Bug bounty offers up to $1M for identified bugs.

Hyperliquid, the layer-1 blockchain platform, has launched HyperEVM, its general-purpose Ethereum Virtual Machine (EVM).

This move marks a crucial step in Hyperliquid’s mission to integrate comprehensive financial programmability into its high-performance ecosystem.

HyperEVM is integrated into Hyperliquid’s L1 consensus mechanism

The HyperEVM will not operate as a standalone chain but is deeply integrated into Hyperliquid’s existing layer-1 consensus mechanism, known as HyperBFT. This integration ensures that the EVM inherits the robust security features of Hyperliquid’s base layer.

Notably, the blocks of HyperEVM are constructed as part of the L1 execution, providing seamless interaction between the EVM and native components of the Hyperliquid network. This setup allows for the HYPE token, native to Hyperliquid, to be fungible with the gas token used within the HyperEVM, enhancing the platform’s liquidity and user experience.

HyperEVM has been assigned a chain ID of 999, and a JSON-RPC server has been made available to encourage node operators and other builders to host their own servers, thereby decentralizing access to the network.

In addition, recognizing the nascent state of tooling and analytics around the new EVM, Hyperliquid is streaming raw HyperEVM block data to S3 in real-time. This approach allows developers to index the blockchain without the necessity of running their own nodes, easing the burden on new entrants to the ecosystem.

While the initial release includes key features like spot transfers between native HYPE and HyperEVM HYPE, and the deployment of the WHYPE system contract for DeFi applications, Hyperliquid plans to introduce general ERC20 transfers and precompiles in future upgrades.

This staggered rollout strategy aims to minimize disruption to existing users while adding new functionalities, demonstrating Hyperliquid’s commitment to both innovation and stability.

The Hyperliquid bug bounty program

In tandem with the EVM launch, Hyperliquid has introduced a comprehensive bug bounty program. This initiative is designed to fortify the system’s security by incentivizing developers to find and report vulnerabilities.

Rewards under the bug bounty program can scale up to 1 million USDC, depending on the severity of the security issue identified.

The program covers a broad spectrum of potential vulnerabilities, including those that might cause system outages or errors in the nodes or API servers.

For the HyperEVM on the mainnet, bug hunters can report issues related to the integration of EVM with Hyperliquid’s native functionalities.

The post Hyperliquid launches its general-purpose EVM and unveils bug bounty program appeared first on CoinJournal.

Bitcoin Pepe’s stage four presale nears completion, raising $2.7m

Key takeaways

  • The Bitcoin Pepe presale is moving fast, with the fourth stage nearing completion.
  • The presale has raised over $2.7 million within a week since its launch.

What is Bitcoin Pepe?

Bitcoin Pepe is a project seeking to leverage the liquidity and security of the Bitcoin blockchain. According to the whitepaper, the team will use Bitcoin’s position in the market to introduce memecoins to its ecosystem. 

It is a layer-2 network building on the Bitcoin blockchain. This project is a meme-specialized layer-2 solution built on top of Bitcoin, bringing Solana-style scalability to the Bitcoin network.

The team explained that Bitcoin Pepe would become home to all memecoin trading and move all this economic activity to the BTC ecosystem. This project will unlock decentralized finance (DeFi) and meme trading on top of BTC.

Bitcoin Pepe will be the perfect fusion between BTC’s security and the unstoppable force of memecoins. It is also the first-ever meme initial coin offering (ICO) on the Bitcoin blockchain. 

With Bitcoin Pepe, BTC Maxis will be able to trade memes, and combining high levels of trust (BTC) with high levels of performance (SOL) will lead to high levels of retail mass adoption.

Bitcoin Pepe presale raises $2.7m within a week

Bitcoin Pepe’s presale is moving fast, with the fourth stage now near completion. The official Bitcoin Pepe website shows that the project has raised over $2.7 million. This is an incredible feat as the presale only began a week ago. 

Investors can purchase the $BPEP tokens (Bitcoin Pepe’s native token) using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. 

In this current stage, $BPEP is going for $0.0243 and is set to increase to $0.0255 in the next stage. 

The presale could be an opportunity to purchase $BPEP at a discount. Solana’s SOL currently trades at $196 per coin. However, it was sold for $0.22 during its presale in 2020, indicating how early investors benefit from partaking in presales.

Will Bitcoin Pepe advance the Bitcoin ecosystem?

Bitcoin is the leading cryptocurrency, with a market cap of nearly $2 trillion. While it has liquidity and security, the Bitcoin blockchain offers less utility than smart contract blockchains like Ethereum and Solana. 

However, Bitcoin Pepe plans to open up the blockchain further by allowing the launch of memecoins and other narratives on the network. 

Introducing memecoins on the Bitcoin blockchain will enable it to become home to a crazy high-octane meme experience. The Bitcoin Pepe team believes the BTC bridge will unlock $2 trillion in dormant BTC capital and make it available for memecoin trading.

Bitcoin Pepe will launch as a layer-2 network, providing the necessary infrastructure for all memes to migrate to BTC and ensuring security and liquidity for investors and users. 

Its native $BPEP token will power several activities within the Bitcoin Pepe L2 network. 

Should you invest in the Bitcoin Pepe presale?

Thanks to $BPEP’s utility, the presale allows investors to participate early in the Bitcoin Pepe project. 

Presales allow investors to gain early exposure to projects. For instance, while Solana’s SOL is trading at $167 today, it was sold for $0.22 during its presale in 2020, indicating how early investors benefit from participating in presales.

Bitcoin Pepe aims to be a leading L2 network on Bitcoin, offering users security and liquidity. By introducing memecoins to the Bitcoin ecosystem, Bitcoin Pepe could be an important project on the blockchain, similar to Ordinals.

The post Bitcoin Pepe’s stage four presale nears completion, raising $2.7m appeared first on CoinJournal.

Binance is not for sale: CZ

  • Rumours that crypto exchange Binance, the world’s largest by trading volume, is for sale are just that – rumours.
  • That’s according to the latest details Binance co-founder Changpeng Zhao “CZ”.

Binance “not for sale”

The former Binance CEO, and currently at the helm of YZi Labs, said speculation that the exchange was headed for sale are a result of FUD from “some lowly self-perceived competitor in Asia.”

“As a shareholder, Binance is not for sale,” CZ posted on X on Monday, Feb. 17. 

The remarks echo those of co-founder Yi He, who has also dismissed the circulating claims as started by a competitor. He added that as a company, Binance continually receives investment and cooperation requests from players across the industry.

Yi, a co-founder of Binance and chief customer service, said the company cannot rule out potential strategic partners. Binance is open to mergers and acquisitions, she noted.

“Top investors have always been interested in Binance. Over time, we may allow some investments in the single-digit percentage range,” Zhao added.

CZ’s comments follow notable speculation regarding the potential sale of the top CEX platform.

Zhao himself stepped down as Binance CEO in 2023. He served a four-month prison sentence after a plea deal with US authorities, that saw the exchange agree a $4.3 billion settlement. The exchange is also still in a legal tussle with the SEC.

Afte the latest rumours, the native BNB token that surged in the past week pared gains. However, with CZ, who is a shareholder at the company, adding to comments by He, price could see an upside.

BNB price hovers around $673, flat in the past 24 hours and about 10% up over the past week.

The post Binance is not for sale: CZ appeared first on CoinJournal.