Borrow against HyperEVM assets

Three ways to hold HYPE, three rows

HYPE is the chain’s gas token, so a pool cannot hold it directly. That produces WHYPE, the plain wrapper, and xHYPE, the staked form whose staking position carries on while the pool holds it. They quote different ceilings.

The rest of the chain’s rows are separate assets: PURR, UPUMP, which uses six decimals rather than eighteen, and UXPL. Each has its own contract and its own terms.

The only chain here that pays out in USDT

Every other network Teller publishes lends USDC. HyperEVM lends USDT across all 6 of its rows, at ceilings up to 28.6%.

That single difference is the one to carry away from this page. A borrower expecting USDC because every other row on the platform pays it will receive a different token on a different contract, and a plan that routes the proceeds somewhere specific needs to account for it before signing rather than after.

The chain is also new enough that most lenders have not arrived, which is why the alternative to these pools is usually selling rather than borrowing elsewhere.

What the ceilings say about the chain

HyperEVM prices its rows in a narrow band, between roughly a fifth and a quarter of collateral value. Base spreads from 15.4% to 25% and Ethereum runs from 16.7% up to 75.2% on a tokenized equity. A tight band is what one operator writing most of the pools looks like.

So the rate is rarely what separates two rows here. Compare the ceilings, work out how much collateral each asks for per dollar, and let that decide which of your holdings to deposit.

Wrap before you arrive

HYPE is the gas token, so pools hold the wrapped form at 0x5555555555555555555555555555555555555555. This is the one chain where Teller does not wrap for you: a canonical wrapper is still settling, so native deposits stay switched off in the borrow sheet rather than routing balances through a contract that may be replaced. Wrap to WHYPE yourself, then deposit it.

Every other chain on the platform prepends the wrap to the transaction batch. Only HyperEVM asks you to arrive holding the ERC-20, and that is a deliberate choice rather than a gap.

What else the pools take

PURR at 0x9b498c3c8a0b8cd8ba1d9851d40d186f1872b44e is the community token that predates the EVM itself. xHYPE and UPUMP are local assets with their own pools and their own ceilings. ApeCoin bridged to HyperEVM has a pool here as well, at a fourth contract distinct from its Ethereum, Arbitrum and ApeChain addresses.

Each pool accepts exactly one contract, so work from the row in the table rather than from a ticker. On a chain this young the same name can appear more than once.

Why a fixed term suits this chain in particular

Fast markets and young books are the conditions under which a liquidation-based loan closes you out at a price nobody would choose. HyperEVM has both while it grows, and that is exactly where the absence of a margin call is worth the most.

Rate, LTV and the roll window lock when the loan opens, and the protocol holds your collateral until you repay or roll. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit, which turns the risk into a calendar you control.

WHYPE has its own page: borrowing against HYPE.