revm

HyperEVM perpetual contract exchange Papertrade is scheduled to open trading at 10 AM Eastern Time on October 10. According to DefiLlama data, it has accumulated approximately $85.3 million in deposits before its launch. The platform supports up to 1000x leverage, and traders do not match with counterparties but trade directly with the protocol's own liquidity pool. Papertrade stated in the announcement that website trading will start after the HyperEVM upgrade is completed, and deposits will be paused at 9:45 AM to prioritize trading; users need to deposit in advance to participate in the launch.The contracts on Papertrade use the midpoint of Hyperliquid's optimal buy and sell prices as the opening and closing price, with positions being synthetic trades against its liquidity pool, and there are no corresponding perpetual contracts on Hyperliquid. This design eliminates funding rates and reduces profits from closing positions through asymmetric impact discounts instead of charging fees based on position size. When the liquidity pool cannot cover profitable trades, unpaid profits will convert to queued debt, filled by subsequent traders' losses. Its PAPER token grants losing traders the right to claim related earnings from the liquidity pool, with an initial supply of zero, minted from realized losses, with no team or venture capital shares.In the initial phase of the launch, Papertrade will only open trading through the frontend and approved trading relays, and direct access to public contracts will not be supported. Platform administrators can pause new positions, freeze the market, and adjust fee parameters, with a 7-day time lock for contract upgrades. Initially, the PAPER token will only support staking and unstaking, and wallet-to-wallet transfers will not be supported;

iTrading platform Catapult Trade announced the completion of a total of $6.6 million in financing across 4 rounds. The seed round investors include KuCoin Ventures, Oddiyana Ventures, Venture Vault VC, and a T1 fund whose name has not yet been disclosed. Angel investors include Blockstreet co-founder and CMO Kyle Klemmer (WLFI and USD1 advisor), veteran trader MacnBTC who entered the market in 2017, and former Manta Network CSO Aamir Ghai (Harvard Blockchain mentor).The private placement round was participated in by operators such as the founder of LIS Skins (with a CS:GO market asset management scale of about $50 million) and the founder of Trady (a multi-chain trading terminal). The KOL round involved over 30 first-line traders and analysts. The financing will support Catapult Turbo (which has achieved a nominal trading volume of $6 billion and a net income of $3.3 million since its launch) and three new products: Gamified Futures, a Gamified Prediction Market powered by Obsidian, and TradFi and crypto classic futures. The $PULT token, as part of the iTrading token plan, is scheduled to launch in the fall of 2026. Strategic round participants will be announced before the TGE and are currently in discussions with several first-line exchanges for listing.

Pump.fun announced that its application now supports HyperEVM, allowing users to trade any HyperEVM tokens using USDC, and receive referral rewards along with a near-zero fee trading experience.Pump.fun stated that it is the first application to introduce HyperEVM into relevant trading scenarios.

According to HyperliquidNews monitoring, HyperEVM set a record for daily transaction fee revenue, reaching $538,100, with all fees paid and burned in hyperliquid.

According to HyperliquidNews monitoring, the average Gwei on HyperEVM rose from about 0.15 Gwei to 3 Gwei on August 22, and today it has increased to 60 Gwei, a 400-fold increase compared to before.

ChianCatcher news, well-known crypto KOL katexbt tweeted that HyperEVM is a huge failure, with 13 out of 18 HyperEVM projects being a complete waste of time.Specifically, this includes 2 that have been delayed (felix, hyperbeat), 7 that are dead (hyperdrive, hypurr, liminal, hyperstablex, looped, laminar, sentiment), 3 that have achieved nothing after TGE (hyperlend, hyperswap, kittenswap), 1 that is still pending but will be delayed (valantis), 1 that had a decent early participation (harmonix), 1 that might still be good (unit / tradexyz), and only 3 that are performing decently (Markets / Kinetiq, ProjX, and Nest).

The Hyper Foundation announced that it will provide approximately $10 million in grants to developers affected by the USDH exit, to cover migration costs and support an orderly transition of the ecosystem. This round of funding will be allocated to affected HIP-1 spot deployers, HIP-3 perpetual contract deployers, HyperEVM protocol, USDH:USDC cross-chain bridge, and other ecosystem participants.Among them, migration grants are aimed at teams migrating USDH-related markets or deployments to USDC; while exit grants are for projects that choose to terminate USDH-related businesses, with amounts lower than equivalent migration plans, to encourage a smooth conclusion of the ecosystem. HIP-1 and HIP-3 grants are based on auction deployment cost estimates, while HyperEVM grants are assessed based on the scale of USDH TVL affected. All beneficiaries must complete migration or business closure by the end of July.On the user side, USDH holders need to operate according to the guidelines of each protocol and can complete the exchange to USDC through the spot market or HyperEVM path. The official has provided support for asset conversion with no fees or spot trading channels. The Hyper Foundation also stated that the USDH migration is progressing smoothly, thanks to the active cooperation of developers and the community, and expressed gratitude to the relevant builders.

According to Arkham monitoring, Circle has just transferred 4.397 billion USDC to Coinbase via HyperEVM.

According to on-chain analyst Yu Jin's monitoring, a certain address has just applied to redeem 892,000 HYPE on the HyperEVM chain, worth $55.09 million; the redemption takes 7 days and is expected to be completed next Thursday evening. After the redemption is successful, it may continue to transfer to Hyperliquid for profit-taking sales.

According to GMGN data, the market capitalization of the HyperEVM chain meme coin ALT has exceeded 7 million USD, currently reported at about 6 million USD, with a 24H increase of over 440%.ChainCatcher reminds users that the price of meme coins is highly volatile, and investors should be aware of the risks.

According to official news, Ondo Finance announced the introduction of tokenized stocks and ETFs to Hyperliquid's HyperEVM ecosystem via the LayerZero-based Ondo Bridge, bringing them from the BNB Chain and Ethereum. Currently, 35 types of tokenized assets support cross-chain transactions, including SPY on, QQQ on, NVDA on, TSLA on, GOOGL on, CRC on, NFLX on, BABA on, and more.Users can combine tokenized spot stocks with perpetual contracts on Hyperliquid to execute advanced trading strategies such as basis trading, funding rate arbitrage, and delta-neutral strategies. Ondo stated that its tokenized stocks do not rely on fragmented on-chain liquidity but are anchored to the underlying liquidity of traditional markets like NYSE and Nasdaq.Since its launch in September 2025, Ondo Global Markets has become the world's largest tokenized securities platform, with a total locked value (TVL) exceeding $970 million and a cumulative trading volume approaching $18 billion.

According to The Street, the lending protocol Purrlend was attacked on the MegaETH and HyperEVM networks, resulting in a loss of approximately $1.52 million.The attacker extracted about $1.2 million in assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT, 194,745 USDH, as well as some UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attacker also extracted about $324,000 in assets from the MegaETH network, including USDT, WETH, and USDm.Currently, Purrlend has suspended the protocol and launched an investigation, and the attacker's address has been identified in the block explorers of both networks.

According to monitoring by the on-chain security agency PeckShield, HyperEVM is suspected to be experiencing a major failure, as the block explorer page shows that the latest block and transactions have been stuck at "1 hour ago," with some blocks showing zero transactions, and on-chain data appears to have stopped updating.However, according to user replies, the aforementioned anomaly is actually a data delay issue with the block explorer itself, rather than a failure of the HyperEVM underlying chain------the top of the browser page even has a banner indicating "block data may be delayed," and other third-party explorers (such as Hyperscan) still show normal on-chain activity.

MetaMask tweeted that it now fully supports the HyperEVM network, allowing users to directly exchange tokens between MetaMask and the HyperEVM network.

According to Cointelegraph, the supply of HyperEVM's stablecoin has surpassed 1 billion dollars, surging 96% since February.

The DeFi platform Felix Protocol announced a partnership with Ondo Finance to launch spot stock trading on Hyperliquid's HyperEVM ecosystem.The project will introduce over 100 U.S. stock markets through Ondo Global Markets and plans to expand to over 1,000 stocks in the coming months. The Felix team stated that by integrating with Ondo, these markets will have deep liquidity from day one, without relying on AMM liquidity, and can support stock orders in the millions of dollars.

According to the announcement from Hyperliquid, USDC has achieved native interoperability between HyperCore and HyperEVM, which is a key advancement for secure cross-chain access. In the future, it will replace the existing Arbitrum cross-chain bridge, and all USDC will be minted natively.The official statement indicates that the relevant features are still being gradually improved, and the migration will proceed under the premise of ensuring security, allowing ample adaptation time for users and developers. Currently, users and developers do not need to make any adjustments and can continue to use the Arbitrum bridge or HyperEVM for deposits and withdrawals. HyperCore has supported one-click deposits from the CCTP ecosystem and can automatically complete the minting process on HyperEVM. Circle has deployed the CCTP path from Arbitrum, and support for other chains will be rolled out successively.

ChainCatcher news, the dollar stablecoin USDC issuer Circle officially announced that Circle Gateway is now live on HyperEVM, currently supporting HyperLiquid, Sei Network, Sonic, and World Chain. After integration, USDC can achieve on-demand liquidity support for 11 blockchains.