🌋 Hyperliquid Reveals Tokenomics and Launch Details for HYPE
posted 2 hr ago
Hyperliquid, a decentralized derivatives exchange and Layer 1 blockchain, is preparing to launch its native token, HYPE.
Hyperliquid, a decentralized derivatives exchange and Layer 1 blockchain, is set to launch its native token, HYPE, with the Token Generation Event (TGE) scheduled for November 29 at 07:30 UTC.
The platform has also announced an airdrop for early users. While the specific eligibility criteria have not yet been disclosed, the team is expected to consider factors like platform usage, trading volume, the number of open trades, and trading pairs.
According to the project’s tokenomics, the total supply of HYPE will be 1 billion tokens, allocated as follows:
- 38.88% — future emissions and community rewards
- 31% — genesis distribution
- 23.8% — current and future core contributors
- 6% — Hyper Foundation budget
- 0.3% — community grants
- 0.012% — internal allocation via HIP-2
Unlike a standard governance token, HYPE will offer various functionalities, including staking and fee payment options. Staking HYPE will secure HyperBFT, the Proof-of-Stake consensus algorithm that powers the Hyperliquid platform.
Hyperliquid has become one of the largest decentralized derivatives exchanges (DEXs) over the past six months. As of writing, its Total Value Locked (TVL) in derivatives stands at $1 billion, ranking it second only to the decentralized exchange Jupiter.
Previously, GNcrypto reported on Hyperliquid as one of the platforms likely to offer an airdrop. Our guide to crypto futures exchanges that could airdrop tokens also highlighted Aevo (which has already conducted an airdrop) and SynFutures (which recently announced an airdrop).
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