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Why Hyperliquid?

Hyperliquid uniquely enables Button's credit, yield and trading infrastructure

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Hyperliquid L1

The Hyperliquid blockchain features two key components: HyperCore and HyperEVM.

HyperEVM is a generalized EVM environment, and HyperCore is a high performance CLOB powering spot and perp order books. The HyperEVM is not a separate chain, but rather, secured by the same HyperBFT consensus as HyperCore. This lets the HyperEVM interact directly with HyperCore.

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HyperEVM

HyperEVM can compose with HyperCore using read pre-compiles and the CoreWriter contract. These two enable the following:

  • Read precompiles allow HyperEVM contracts to query the state of the HyperCore, including methods for querying information such as perps positions, spot balances, and oracle prices

  • CoreWriter allows HyperEVM contracts to transfer assets between HyperEVM and HyperCore, place orders, and delegate trading access to the account via API wallets

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HyperCore

HyperCore is a fully onchain, high performance CLOB, that supports spot and perp markets. HyperCore allows for delegated account access via API walletsarrow-up-right. API wallets allow for a HyperCore account to delegate some account privileges to an agent. In particular, API wallets can transfer assets between spot and perp sub-accounts, and allow for the placement of orders against the exchange. API wallets DO NOT allow for the withdrawal of assets from the account, allowing for agents to execute trading strategies without custody of assets.

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How Button leverages Hyperliquid

Putting together the HyperEVM and HyperCore components, Button can build the following:

  1. Credit layer on HyperEVM: Smart contracts on HyperEVM manage deposits, collateral accounting, and lending.

  2. Strategy layer on HyperEVM: Smart contracts on HyperEVM that manage the rules of a strategy, allowing the credit layer to intelligently underwrite strategies. Strategies transfer assets between HyperEVM and HyperCore, delegating strategy execution via API wallets.

  3. Strategy execution on HyperCore: Button's offchain engine uses API wallets to execute complex trading strategies directly on HyperCore, ensuring that asset custody never leaves Button's strategy smart contracts.

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