Token

Genesis

Hyper

Hyperliquid

Hyper Foundation, the entity behind decentralized exchange and blockchain platform Hyperliquid, has announced the genesis event for its native token HYPE, scheduled for November 29 at 07:30 UTC. This milestone marks a critical step in Hyperliquid’s evolution into a comprehensive financial ecosystem. 
Built on high-performance HyperBFT consensus mechanism, Hyperliquid achieves unprecedented scalability, processing up to 200,000 transactions per second with a rapid 0.2-second finality.&nbsp; 
As per the official <a href="https://hyperfnd.medium.com/hype-genesis-1830a4dc2e3f" target="_blank" rel="noreferrer noopener nofollow">blogpost</a>, the total supply of HYPE tokens is capped at 1 billion, with the distribution allocated as follows: 38.888% will be reserved for future emissions and community rewards, 31% is allocated to the genesis distribution, 23.8% is designated for current and future core contributors, 6% is set aside for the Hyper Foundation budget, 0.3% is allocated to community grants, and 0.012% is dedicated to HIP-2. 
Token distribution underscores Hyperliquid’s commitment to community-driven growth. The majority of tokens—76.2% are earmarked for the community, ensuring broad participation in the network’s success. Notably, Hyperliquid has excluded private investors, centralized exchanges, and market makers from its tokenomics, reinforcing its decentralized ethos. 
As the backbone of this ecosystem, HYPE will serve as the staked asset securing HyperBFT, further strengthening the blockchain’s trustless and decentralized infrastructure. 
Hyperliquid’s ecosystem features a native decentralized exchange (DEX), seamlessly blending the user-friendly experience of centralized exchanges with the self-custody ethos of DeFi.&nbsp; 
The HYPE/USDC pair will debut on the platform’s spot order book, exemplifying its advanced financial primitives. The HyperEVM, a programmable layer, will use HYPE as its gas token, enabling developers to build innovative onchain applications. 
The HYPE token genesis event unlocks essential functionality across Hyperliquid’s stack, positioning the blockchain as a leader in scalable, trustless finance. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/27/justin-sun-joins-trump-backed-defi-project-as-advisor/">Justin Su</a><a href="https://www.cryptotimes.io/2024/11/27/justin-sun-joins-trump-backed-defi-project-as-advisor/" target="_blank" rel="noreferrer noopener">n Joins Trump-Backed DeFi Project as Advisor</a> 
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HyperFND Unveils HYPE Token Genesis, 1B Tokens to be Minted

The Crypto Times

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