Hyperliquid, a Layer 1 blockchain, is preparing to launch its native token, HYPE, scheduled for 07:30 UTC on November 29th. This event aims to fully decentralize the platform and introduce new features to its trading and blockchain network.
HYPE Token Launch
The HYPE token will become the foundation for operational and trading activities. It will secure the HyperBFT consensus mechanism, an optimized proof-of-stake system that ensures high transaction throughput and near-instant finality, with an average completion time of 0.2 seconds.
Community and Token Distribution
At the genesis event, Hyperliquid will reward eligible users who earned platform reward points with a community airdrop.
Role of HYPE in Hyperliquid
HYPE will act as the native gas token within HyperEVM, the platform’s execution layer. The token will also play a key role in Hyperliquid’s decentralized exchange, enabling trading against USDC.
The HYPE token launch represents an important step for Hyperliquid towards full decentralization and the introduction of new capabilities for its users, strengthening the platform’s market position.
