cloudzombie/standards

Standards on Hyperliquid

What You Probably Got Wrong

"I'll use ERC-20 for my token." For HyperEVM: yes. But for a native Hyperliquid token with built-in orderbook access, use HIP-1 on HyperCore. HIP-1 tokens get native spot trading without a DEX contract.

"HIP-1 is just a wrapper." HIP-1 is a native token standard at the protocol level. HIP-1 tokens are first-class citizens in HyperCore — they have native orderbook pairs, native transfer, native balances in HyperCore accounts.

"I need to write a contract to create a market." No. HIP-2 hyperliquidity is built into the protocol. Create a HIP-1 token, seed HIP-2 liquidity, and you have a market — no Solidity required.

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HyperEVM Standards (EVM-Compatible)

These work exactly like on Ethereum:

ERC-20 (Fungible Tokens)

Standard fungible token on HyperEVM. Use when:

• You need composability with other HyperEVM contracts
• You want standard DeFi integrations (HyperSwap V2, lending)
• You're building a governance token or vault share token

// Standard OpenZeppelin ERC-20 — works on HyperEVM unchanged
import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

contract MyToken is ERC20 {
    constructor() ERC20("My Token", "MTK") {
        _mint(msg.sender, 1_000_000e18);
    }
}

USDC on HyperEVM: 6 decimals — same as on Ethereum. HYPE on HyperEVM: 18 decimals (native currency).

ERC-721 (NFTs)

Standard NFTs. Work exactly like Ethereum.

ERC-4626 (Tokenized Vaults)

Vault standard for yield-bearing positions. Use for:

• HYPE staking vaults
• Perp trading vaults
• Any yield-generating contract

ERC-2612 (Permit)

Gasless approvals. Works on HyperEVM.

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HyperCore Standards (Native, Non-EVM)

These are protocol-level standards on HyperCore. No contract deployment needed.

HIP-1: Native Spot Tokens

HIP-1 is the standard for native spot tokens on HyperCore. A HIP-1 token is:

• First-class in HyperCore — appears in user balances, transferable, tradeable
• Has a native spot orderbook pair on HyperCore
• Uses a bonding curve (x*y=k) for initial price discovery
• Graduates to a full limit orderbook when market cap reaches the graduation threshold

Creating a HIP-1 token:

# Via Python SDK
from hyperliquid.exchange import Exchange

exchange = Exchange(wallet, constants.MAINNET_API_URL)

# Register a spot asset (HIP-1)
result = exchange.spot_deploy_token(
    name="MY TOKEN",
    symbol="MTKN",
    total_supply=1_000_000_000,  # 1 billion
    decimals=6,
    initial_supply=500_000_000,  # 500M allocated to creator
    is_blacklist=False
)

HIP-1 token properties:

• Name: up to 20 characters
• Symbol: up to 6 characters
• Decimals: typically 6 or 8
• Supply: fixed at creation (no mint function)
• Transfer: native HyperCore transfer (no gas on HyperCore)

HIP-2: Hyperliquidity

HIP-2 is protocol-level automated market-making for HIP-1 tokens. It's like having Uniswap built into the protocol.

How it works:

• Token creator seeds initial liquidity (USDC + tokens)
• HyperCore protocol manages the liquidity curve
• Uses x*y=k bonding curve mechanics
• Graduation: when market cap hits a threshold (~$10M-100M depending on configuration), moves to full CLOB

Seeding HIP-2:

# After creating a HIP-1 token, seed hyperliquidity
result = exchange.spot_seed_liquidity(
    token="MTKN",
    usdc_amount=100_000,    # $100k USDC
    token_amount=500_000    # 500k tokens
)

Key insight: HIP-2 removes the cold-start problem. Your token has immediate liquidity from launch — no need to incentivize LPs.

HIP-3: Builder-Controlled Spot DEX

HIP-3 lets builders deploy their own spot DEX with custom token listing controls. Unlike the main HyperCore spot market (where anyone can create a HIP-1 token), HIP-3 gives a builder exclusive authority to list tokens on their DEX.

Use cases:

• Curated token exchanges
• Platform-specific trading hubs
• Ecosystem DEXes

HIP-3 asset ID formula: asset_id = 100000 + (perp_dex_index * 10000) + token_index

Fee model: Builders can charge up to 0.1% additional fee on HIP-3 trades, split with the protocol.

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Comparing Token Approaches

| Feature | ERC-20 on HyperEVM | HIP-1 on HyperCore | |---------|-------------------|-------------------| | Standard | ERC-20 | HIP-1 | | Trading | Via HyperSwap V2 | Native orderbook | | Gas for transfer | HYPE (HyperEVM tx) | None (HyperCore native) | | DeFi composability | Full EVM ecosystem | HyperCore ecosystem | | Liquidity bootstrap | Need to seed AMM | HIP-2 built-in | | Token creation | Deploy contract | API call | | Minting | Constructor/function | Fixed at creation | | Best for | DeFi, governance, complex logic | Native trading, speculation |

Hybrid approach (recommended for serious tokens):

1. Launch as HIP-1 for native trading and fast price discovery
2. Bridge to HyperEVM as an ERC-20 wrapper for DeFi composability
3. Use both layers for maximum reach

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Token Decimals Quick Reference

| Token | HyperCore | HyperEVM | |-------|-----------|---------| | HYPE | float (e.g., "1.5") | 18 decimals | | USDC | float (e.g., "100.0") | 6 decimals | | HIP-1 tokens | per token config (usually 6) | N/A (unless wrapped) | | ERC-20 | N/A | 18 decimals (standard) |

CRITICAL: USDC is 6 decimals on HyperEVM. Don't assume 18.

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Quick Reference: Which Standard to Use

| Scenario | Standard | |----------|----------| | DeFi token (vault shares, governance) | ERC-20 on HyperEVM | | NFT collection | ERC-721 on HyperEVM | | Token with native trading | HIP-1 on HyperCore | | Token launch with instant liquidity | HIP-1 + HIP-2 on HyperCore | | Curated exchange platform | HIP-3 on HyperCore | | Yield vault | ERC-4626 on HyperEVM | | Gasless token approvals | ERC-2612 on HyperEVM |