HyperLiquid, a decentralized perpetual exchange, has announced the launch of HYPE, a new token that will be airdropped to early adopters on Friday.
HYPE Token Distribution Plans
The total supply of HYPE tokens is capped at 1 billion. The distribution is allocated as follows: 38.888% reserved for future emissions and community rewards, 31% for the genesis distribution, 23.8% for current and future core contributors, 6% for the Hyper Foundation budget, 0.3% for community grants, and 0.012% for HIP-2.
Functionalities of the HYPE Token
Unlike a standard governance token, HYPE will have numerous functions, including staking capabilities and acting as a payment method for gas fees. Staking HYPE secures HyperBFT, the proof-of-stake consensus algorithm that powers the HyperLiquid platform.
Technical Innovations of HyperLiquid
HyperLiquid has grown to become the largest decentralized exchange by volume and active users. The HyperEVM platform will introduce the HYPE/USDC pair on its spot order book. HYPE will be the gas token of the HyperEVM, allowing full programmability of both native components and the onchain state alike. The genesis event for HYPE will occur on November 29 at 07:30 UTC.
The launch of the HYPE token marks a significant milestone for HyperLiquid, enhancing its functionality and offering various opportunities for users.
