How to Mine on HyperEVM and Earn Rewards?

Ashley

2025-04-17 13:49

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Editor's Note: The HyperEVM ecosystem has attracted miners due to the HYPE token's solid tokenomics and value accrual. Surrounding protocols such as @upshift_fi, @stakedhype, @HyperSwapX, @hyperlendx, @HypurrFi, and @felixprotocol, the article explores strategies such as staking, LP, and lending, with rewards including APY, points, and potential airdrops. However, the ecosystem is still in its early stages, so caution is advised to avoid risks associated with unverified protocols.

The following is the original content (slightly restructured for readability):

Why Choose HyperEVM?

Intuition tells me it will be very profitable, and HYPE is one of the few meme coins with value accrual, product-market fit (PMF), and a solid tokenomics.

A premium DeFi ecosystem is forming around high-quality collateral.

@upshift_fi and @0xHyperBeat Treasury

This is the easiest "set-it-and-forget-it" mining strategy.

The hbHYPE treasury dynamically allocates deposits to DeFi protocols in the HyperEVM. It utilizes delta neutral strategies, capital arbitrage, and various other methods to maximize returns.

By depositing WHYPE, you can receive a 6.0% Annual Percentage Yield (APY) + ecosystem points (5x Upshift, Hyperbeat, @hyperlendx, @hyperpurrfi, @HyperSwapX, @TimeswapLabs, and @silhouette_ex).

Upshift is backed by @dragonfly_xyz, with $235 million in deposited assets on the platform.

@stakedhype Staking HYPE

HYPE's primary liquidity staking token (LST) can be used in DeFi to earn additional rewards.

This is built by @thunderheadxyz; I am not sure if there will be a protocol token, but stHYPE holders can be quite confident they will be rewarded through Jeff's HYPE airdrop in the future.

@HyperSwapX Exchange and LP

Wrap your stHYPE with HyperSwapX and provide liquidity on different pairs (e.g., HYPE/stHYPE).

Earn rewards + HyperSwapX points.

@hyperlendx

Deposit HYPE, wstHYPE, or UBTC (using @hyperunit) to earn rewards + HyperLend points.

The current pool is full, so please check for availability or a potential limit increase.

HyperLend has been officially recognized by AAVE DAO as a friendly fork, and will share revenue and tokens with AAVE.

@HypurrFi

Borrow USDXL by collateralizing wstHYPE.

You can also use @hyperunit to supply BTC and ETH as collateral and borrow USDXL. Earn HypurrFi points.

@felixprotocol

Swap USDXL for feUSD and deposit into the Felix protocol.

The returns in the current HYPE pool are higher than the borrowing cost of USDXL + you can earn Felix points.

Felix currently has a considerable TVL and borrowing volume.

There are more applications to explore, but this is my current summary (not an expert, still figuring it out).

I focus on audited protocols with a higher TVL (of course, there is still risk). There will certainly be more high-risk, high-reward opportunities.

We know Hyperliquid will allocate incentives for HyperEVM users, so I believe earnings will be boosted through retroactive HYPE.

However, please note that the HyperEVM ecosystem is still in its very early stages. I wouldn't risk more than I'm willing to lose. Don't do stupid things and invest too much in protocols that haven't been battle-tested for a long time.