On November 29, 2024, HyperLiquid's decentralized exchange will launch its new HYPE token, which will play a key role in the platform's ecosystem.
HYPE Token Launch Date and Details
The launch of the HYPE token is scheduled for November 29, 2024, at 07:30 UTC as part of HyperLiquid's Genesis event. HYPE will serve as the gas token for the HyperEVM execution environment and will facilitate trading on the platform's decentralized exchange, where users can trade HYPE against USDC. Additionally, the event will feature an airdrop rewarding the early adopters who participated in HyperLiquid's campaign.
HYPE Token Distribution
The total supply of HYPE tokens will be capped at 1 billion. Distribution will be as follows:
* 31% for Genesis Distribution (310 million tokens): Airdrop to users who participated in HyperLiquid's points campaign. * 38.88% for Future Emissions & Community Rewards (388.88 million tokens): To be released over time as part of HyperLiquid’s reward system, promoting growth and user engagement. * 23.8% for Core Contributors (238 million tokens): Allocated to current and future contributors with a one-year lock-up period. * 6% for the Hyper Foundation Budget (60 million tokens): To support project operations. * 0.3% for Community Grants (3 million tokens): Allocated to community-driven projects. * 0.012% for HIP-2 (120,000 tokens): Allocated to the Hyperliquidity protocol. * No tokens will be allocated to private investors, centralized exchanges, or market makers.
Role of HYPE Token in HyperLiquid Ecosystem
The HYPE token is designed to play a central role in HyperLiquid's decentralized exchange ecosystem. It will serve as a tradable asset, used for staking and securing the HyperBFT consensus mechanism, which supports the platform’s decentralized nature. The HyperBFT consensus algorithm, an optimized proof-of-stake model, reportedly allows for high throughput and near-instant finality, making HyperLiquid a scalable option for decentralized finance (DeFi). Additionally, the HYPE token will act as the native fuel for the HyperEVM execution environment, allowing developers to build decentralized applications (dApps) directly on the HyperLiquid network.
The launch of the HYPE token promises significant changes within the HyperLiquid ecosystem, providing new opportunities for participants and fostering further platform development.
