HyperLiquid, a decentralized exchange (DEX), announced the launch of its native token HYPE on November 29, 2024. The token will perform key functions on the platform.
HYPE Token Launch and Genesis Event
As part of the Genesis Event, the HYPE token will serve as the main gas token for HyperLiquid's execution environment, HyperEVM. Users will be able to trade HYPE against USDC on HyperLiquid's decentralized exchange. An airdrop is planned for early campaign participants.
HYPE Token Distribution
The total supply of HYPE will be capped at 1 billion tokens, distributed as follows:
* 31% for Genesis Distribution (310 million tokens): airdropped to campaign participants. * 38.88% for Future Emissions & Community Rewards (388.88 million tokens): distributed as part of the reward program. * 23.8% for Core Contributors (238 million tokens) with a one-year lock-up. * 6% for the Hyper Foundation Budget (60 million tokens). * 0.3% for Community Grants (3 million tokens). * 0.012% for HIP-2 (120,000 tokens). * No allocation for private investors or centralized exchanges.
HyperLiquid's Roadmap
The HYPE token will play a central role in the HyperLiquid decentralized exchange ecosystem, supporting the HyperBFT consensus mechanism. This optimized proof-of-stake model enables high throughput and quick transaction finality. HYPE will also be used within HyperEVM, allowing developers to create decentralized applications (dApps) on the HyperLiquid network.
The launch of HYPE on the HyperLiquid platform opens new opportunities for users and developers, strengthening the platform's position in the decentralized finance ecosystem.
