HyperLiquid, a decentralized exchange, announced the launch of its native token HYPE on November 29, 2024. The token will be part of the Genesis event.
HYPE Token Launch
The HYPE token will serve as the gas token for HyperEVM and facilitate trading on the HyperLiquid decentralized exchange. On the platform, users can trade HYPE against USDC. The event also includes an airdrop for users who participated in HyperLiquid's campaign.
HYPE Token Distribution
The total supply of HYPE will be capped at 1 billion tokens. The distribution will be as follows:
* 31% for Genesis Distribution: 310 million airdropped tokens will be unlocked at the event. * 38.88% for Future Emissions & Community Rewards: 388.88 million tokens for promoting growth and user engagement. * 23.8% for Core Contributors: 238 million tokens with a one-year lock-up period. * 6% for the Hyper Foundation Budget: 60 million tokens for operational support. * 0.3% for Community Grants: 3 million tokens for community-driven projects. * 0.012% for HIP-2: 120,000 tokens.
HyperLiquid’s Roadmap
The HYPE token plays a central role in HyperLiquid's ecosystem. It will be used for staking and ensuring the HyperBFT consensus mechanism, making the platform scalable for decentralized finance (DeFi). HYPE will also fuel HyperEVM, allowing developers to build decentralized applications (dApps) on the HyperLiquid network.
The launch of the HYPE token and the accompanying airdrop highlight HyperLiquid's strategy to strengthen its position in the DeFi ecosystem.
