Ether.fi, renowned for its Ethereum liquid staking solution, has announced its entry into the HyperLiquid ecosystem through a partnership with DeFi protocol HyperBeat, unveiling a new liquid staking token named beHYPE. Initially, the collaboration will introduce a multisig-secured vault, preHYPE, enabling users to deposit funds before the full rollout of beHYPE. Ether.fi will oversee the security framework and infrastructure, while HyperBeat, native to HyperLiquid, will handle integration and yield strategies, as stated in a press release. The vault is expected to transition into a fully smart contract-based system within a six-week timeframe.
This development is set amidst growing interest in HyperEVM, a key component of the HyperLiquid environment that integrates the Ethereum Virtual Machine into the blockchain. Since its mainnet launch in February, the total value locked (TVL) on HyperEVM has exceeded $2 billion, according to the HyperLiquid team. Participants in the preHYPE vault will be offered competitive staking yields, further enhanced by an allocation of 'hearts,' which are incentive points from HyperBeat's pre-token generation event.