HyperLiquid launches native token HYPE

HyperLiquid launched its native HYPE and featured token distribution.
HYPE has a maximum supply of 1 billion tokens.

Decentralized perpetual exchange Hyperliquid has officially unveiled its native HYPE.

The Hyper Foundation announced in a post on X that a token generation event for the HYPE token was released on Friday, November 29, 2024 at 7:30 UTC.

“The HYPE Genesis event is a key milestone in the journey, unlocking core functionality at each level of the stack,” the Hyper Foundation said in a blog post.

HYPE, which the Hyper Foundation introduced in October, also includes a community airdrop.

Approximately 31% of the maximum 1 billion token supply is reserved for Genesis distribution and 38.89% for future releases and community rewards. The project allocates 23.8% to major contributors, 6.0% to the Hyper Foundation budget and 0.3% to community grants.

“Tokens will be released over time, 76.2% will go to the community. 310,000,000 tokens have been allocated to qualified participants in the Genesis event. These tokens will be fully unlocked,” they said. He wrote.

$HYPE, the native token of Hyperliquid L1 is live. pic.twitter.com/IYsWcAr53K

— Hyperliquid (@HyperliquidX) November 29, 2024

HYPE token distribution

Of the total offering, 388,880,000 will be unreserved and will go towards HyperLiquid's future release and rewards program. Meanwhile, HYPE reserved for top contributors will remain locked for a year after the Genesis event. There are no HYPE token allocations for private investors, centralized exchanges and market makers like the Hyper Foundation.

The launch of Generation Token comes as HyperLiquid looks set to continue its growth trajectory with an eye on rivals Jupiter and SynFutures. As a native property of the protocol, HYPE will be the key to hyperliquid traction in decentralized finance applications.