Launches the Trading Platform Hyperliquid for Perpetual and Spot DEX, Introducing the HYPE Token
The Hyperliquid decentralized finance (DeFi) protocol is set to launch its native token, HYPE, during a genesis event on November 29 at 07:30 UTC. This performant modular layer-1 platform, powered by the highly optimized proof of stake consensus algorithm HyperBFT, is capable of handling 200k transactions per second.
The total supply of HYPE tokens is capped at 1 billion, with the distribution plan emphasizing community incentives and long-term growth. Here's a breakdown of the token allocation:
- 38.88% of tokens are allocated for future emissions and community rewards
- 31% of tokens are allocated for the genesis airdrop to early users
- 23.8% of tokens are allocated to core contributors
- 6% of tokens are allocated to the Hyper Foundation for its operational budget
- 0.3% of tokens have been set aside for community grants (HYPE grants)
No tokens were allocated to private investors, centralized exchanges, or market makers. The Hyper Foundation's operational budget of 60 million HYPE tokens will support the ongoing development and growth of the platform.
The Hyperliquid platform has expanded from a decentralized exchange (DEX) to a full financial system, including a layer-1 chain, perpetuals and spot DEX, HyperEVM, and an ever-growing community. The recent total value locked on Hyperliquid surpassed $1.2 billion according to DeFiLlama data, solidifying its position as a significant player in the DeFi market.
The governance of the Hyperliquid protocol leverages HYPE tokens for participation and staking, which helps secure the network and rewards holders. The HYPE genesis event unlocks core functionality at every level of the Hyperliquid stack, marking a new chapter in the evolution of this innovative DeFi platform.
The community will receive a substantial portion of the newly launched HYPE tokens, with 38.88% allocated for future emissions and community rewards, and 31% for the genesis airdrop to early users. The platform's expansion beyond a decentralized exchange (DEX) to a full financial system, backed by technological advancements such as the HyperBFT consensus algorithm, positions it as a significant player in the community-driven news sphere of decentralized finance (DeFi).
