Hyperlane (HYPER)

• Hyperlane is the open standard for permissionless interoperability across blockchains, enabling seamless cross-chain general message passing. It empowers developers with fully open source tooling to connect applications, chains, assets, and messages anywhere across any chain or virtual machine.

• Hyperlane’s modular security stack gives developers the power to customize their interchain security to their needs.

• HYPER is the native token of Hyperlane.

  • Usage-based incentives for builders and users – Expansion rewards for both applications and their users in proportion to their Hyperlane usage. Combined with staking to build Hyperstreaks and obtain reward multipliers.

  • Staking – Validators stake HYPER to provide economic security cross‑chain messages, and can be slashed for misbehavior. Fee payments can be used to apportion security for users and chains.

  • Value Accrual – Protocol fees could be auctioned for HYPER and the purchased tokens are removed from circulation or redistributed.

• Architecture:

  • Messaging Contracts & Relayers – Lightweight Mailbox & IGP contracts live on every chain; permissionless relayers earn Interchain Gas Payments (> $7 M fees in 2024).

  • Interchain Security Modules (ISMs) – Pluggable “security lego” contracts that dictate validation logic (multisig, light client, zk‑proof, EigenLayer restaked) and can be swapped without hard‑forks.

• Hyperlane issued Token Warrants to investors across two financing rounds in 2022 and 2024, raising a total of $23 million. These rounds were led by Variant, CoinFund, Hack VC, and Galaxy. Tokens issued under the warrants are subject to a 3-year lock-up schedule, with a 25% cliff after 12 months followed by linear vesting over the subsequent 24 months.

Key metrics (as at April 22nd 2025):

1. What is Hyperlane?

• Project overview: 

  • Hyperlane is the open standard for permissionless interoperability across blockchains, enabling seamless cross-chain general message passing.

  • It empowers developers with fully open source tooling to connect applications, chains, assets, and messages anywhere across any chain or virtual machine.

  • A flexible, customizable, and extensible framework that allows developers to securely build rich, cross-chain functionality into their applications, and is backed by robust and responsive developer support and an active community of builders.
    

• Project mission:

  • Accelerate the growth of the crypto economy by enabling a future of thousands of interoperable blockchains through an open and permissionless protocol for interchain communication that prioritizes customization, and developer control.

  • Hyperlane aims to eventually become the future of value transfer networks, a Visa built on blockchains.

• Project value proposition

  • Hyperlane stands apart from traditional interoperability solutions by offering developers full sovereignty and no vendor lock-in.

  • Most interoperability protocols require centralized approval, or impose rigid architectures. In contrast, Hyperlane is permissionless to deploy, fully open-source, and modular by design.

  • Developers can define how their applications communicate across chains, customize their security model, and build across any virtual machine — all without depending on a single infrastructure provider.

• Project Key Highlights:

  • Rapid Adoption – 150+ connected chains and  25 %+ message‑passing market share in 12 months. 

  • Cross‑VM Coverage – First protocol with support for 5+ heterogeneous VMs. 

  • Modular Security – Applications configure their own ISM, including EigenLayer and Symbiotic restaked security. 

  • Strategic Integrations – Launch partner for Celestia, Built-in interoperability for Caldera & Gelato rollups, Velodrome, Aave governance bridge, Renzo restaking bridge, EigenLayer AVS (Hyperlane is the largest AVS on Eigenlayer by number of operators with $10B+ ETH restaked), and dozens more. 

  • First SVM interoperability player - Eclipse’s launch partner which enabled Hyperlane to reach a market leading position in SVM (Hyperlane has supported 75%+ of bridging to / from Eclipse since launch), now dominant with new SVM chains such as Sonic SVM, Soon, and others.

• Existing Products & Usage:

  These products form the core of Hyperlane’s open-source stack and are actively used by 390+ applications and 200K–400K wallets monthly:

  • Hyperlane Core – Open‑source contracts & SDK. 

  • Warp Routes - Token bridging across chains with a template UI.

  • Hyperlane Explorer - Tool to track and debug interchain transactions.

  • Nexus Bridge – Unified Token Bridging UI.

Key Metrics (As of March  2025)

• Technical Infrastructure:

  • Mailbox Contracts: Chain-agnostic message routing endpoints. 

  • Relayers: Transport messages between chains. 

  • ISM (Interchain Security Modules): Pluggable smart contracts verifying messages based on chosen logic (e.g. multisig, ZK, AVS).

2. Token sales and economics:

Token Distribution:

Token Release Schedule

3.  Risk Analysis:

Initial Circulating Retail:Institution Ratio:

Airdrop Cluster Analysis:

Initial TGE Main Bucket On-chain Wallets Addresses:

Disclaimer: This report is written before spot opening to trade; the liquidity token in the liquidity pool may be transferred while opening.

4. Roadmap & Updates:

5. Commercial and Business Development Progress:

• Hyperlane is integrated by leading infrastructure providers, L1s/L2s, and applications across the modular stack: 

  • Velodrome Finance – Jointly launched Superlane and Superswaps (in development) on the OP Superchain, enabling production-ready cross-chain swaps. 

  • Aave – Integrated Hyperlane for secure governance message delivery across chains. 

  • Renzo & Elixir – Powering cross-chain messaging for liquid restaking ecosystems. 

  • Superform, Mitosis, Everclear – Intent-based protocols leveraging Hyperlane for interchain execution. 

  • Caldera & Gelato – Rollup-as-a-service providers offering native Hyperlane support for rollup builders.

  • Open Intent Framework V1 - Modular framework for intent-based applications powered by Hyperlane and supported by the Ethereum Foundation and 30+ leading teams on Ethereum.

  • EigenLayer – Hyperlane is the largest actively validated service (AVS) by operator count, with over $10B+ in ETH restaked. 

  • OpenUSDT (oUSDT) - First interoperable stablecoin on the Optimism Superchain with Chainlink, Celo and Velodrome.

• Community:

  • Twitter/X: https://x.com/hyperlane 

  • Twitter/X (Foundation): https://x.com/hyperlane_fdn 

  • Discord: https://discord.gg/hyperlane 

  • GitHub: https://github.com/hyperlane-xyz 

  • Blog: https://medium.com/hyperlane

Appendix:

• Github: https://github.com/hyperlane-xyz

• Technical Documentation: https://docs.hyperlane.xyz/docs/intro

• Dune Dashboard: https://dune.com/hyperlane/hyperlane-summary-dash