Connecting USDC to Hyperliquid: A Guide on Performing the Bridge
Hyperliquid, a high-performance layer-one blockchain, offers a unique decentralized exchange (DEX) for quick trading and settlements. Here's a guide on how to bridge USDC to Hyperliquid using deBridge's decentralized solution.
Bridging USDC to Hyperliquid with deBridge
- Visit deBridge's official website.
- Connect your EVM-compatible wallet, such as MetaMask.
- Select your current blockchain network where your USDC is currently held, for example, Ethereum or Polygon.
- Choose Arbitrum as the destination chain, since Hyperliquid operates on Arbitrum.
- Select USDC as the asset to transfer.
- Enter the amount of USDC you want to bridge.
- Confirm and submit the transaction from your wallet.
- Wait for the transaction to complete; the USDC will appear in your wallet on the Arbitrum network.
- Go to the Hyperliquid official site and connect your wallet.
- Deposit USDC into Hyperliquid by clicking on “Deposit” (usually found in the interface's top right corner).
- Select the amount of USDC from Arbitrum to deposit into Hyperliquid; confirm the deposit.
Once these steps are completed, your USDC will be available in your HyperCore wallet within Hyperliquid, ready for trading or further actions.
Alternative Method
Alternatively, you could withdraw USDC directly from a centralized exchange to your Arbitrum wallet and then deposit into Hyperliquid.
Key Points
- Deposits to the Hyperliquid bridge are signed by validators and credited once more than 2/3 of the staking power has signed the deposit.
- Withdrawals from the Hyperliquid bridge require a user wallet signature on the Hyperliquid DEX only.
- Funds from Hyperliquid withdrawals arrive in your Arbitrum wallet in about 3 to 4 minutes.
- There is a withdrawal gas fee of 1 USDC for Hyperliquid withdrawals to cover the Arbitrum gas costs of the validators.
- A minimum deposit amount of 5 USDC is required on the Hyperliquid bridge.
- Hyperliquid runs on Arbitrum to ensure quick and cheap transaction fees and finality.
- Hyperliquid withdrawals do not trigger a transaction on Arbitrum and are handled entirely by validators.
This method is a fast, non-custodial way to bridge funds using deBridge, avoiding centralized exchanges. Keep in mind that only USDC can be used as margin on Hyperliquid. Other assets must be converted to USDC before using.
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- Once your USDC is in your Arbitrum wallet, consider using it for crypto trading on Hyperliquid's decentralized exchange (DEX).
- The quick settlements offered by Hyperliquid's DEX make it an attractive platform for participants interested in bitcoin, crypto, and DeFi investing.
- Beyond trading, you might also explore opportunities like staking to generate additional returns on your USDC within the Hyperliquid ecosystem.
- The blockchain technology underlying Hyperliquid, along with its integration with Arbitrum, makes it possible to participate in airdrops and other Defi finance initiatives.
- As you navigate this world of technology-driven finance, remember to always practice safe and informed investing habits.
