Token

Genesis

Foundation

Hyper

HyperLiquid, a decentralized exchange (DEX), is set to&nbsp;<a style="text-decoration:none" href="https://x.com/HyperFND/status/1862007773191708760">launch</a> its native token, HYPE, on November 29, 2024, at 07:30 UTC.&nbsp;
The token launch is part of the platform’s Genesis event. For starters, HYPE will serve as the gas token for HyperEVM, the platform's execution environment. Additionally, it will facilitate trading on&nbsp;<a style="text-decoration:none" href="https://hyperliquid.gitbook.io/hyperliquid-docs">HyperLiquid</a>'s decentralized exchange, where users can trade HYPE against USDC.&nbsp;
&nbsp;
The event is also set to feature an airdrop, rewarding early adopters who participated in HyperLiquid's campaign.
<h2 dir="ltr" id="span-span-hype-token-distribution-how-will-it-be-allocated-span-span">HYPE Token Distribution: How Will It Be Allocated?</h2>
The total supply of HYPE will be capped at 1 billion tokens. Here’s how they will be distributed:
&nbsp;
<ul>
 <li>31% for Genesis Distribution (310 million tokens): These tokens will be airdropped to users who participated in HyperLiquid's points campaign. This airdrop will be fully unlocked at the time of the genesis event.&nbsp;</li>
 <li>38.88% for Future Emissions &amp; Community Rewards (388.88 million tokens): These tokens will be released over time as part of HyperLiquid’s reward system, promoting further growth and user engagement.&nbsp;</li>
 <li>23.8% for Core Contributors (238 million tokens): These tokens will be allocated to current and future contributors, with a one-year lock-up period.&nbsp;</li>
 <li>6% for the Hyper Foundation Budget (60 million tokens): These tokens will be used to support the operational budget of HyperLiquid, ensuring the project's continued development.&nbsp;</li>
 <li>0.3% for Community Grants (3 million tokens): A portion of the tokens will be allocated to grants for community-driven projects.&nbsp;</li>
 <li>0.012% for HIP-2 (120,000 tokens): These tokens will be allocated to the Hyperliquidity protocol.&nbsp;</li>
 <li>No tokens will be allocated to private investors, centralized exchanges, or market makers.</li>
</ul>
<h2 dir="ltr" id="span-span-hyperliquid-s-roadmap-span-span">HyperLiquid’s Roadmap</h2>
The HYPE token is designed to play a central role in HyperLiquid's decentralized exchange ecosystem. It will act as a tradable asset, used for staking and securing the HyperBFT consensus mechanism, which is integral to the platform’s decentralized nature.&nbsp;
&nbsp;
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).
&nbsp;
The HYPE token will also serve as the native fuel for HyperEVM, the platform’s execution environment. HyperEVM allows developers to build decentralized applications (dApps) directly on the HyperLiquid network.&nbsp;

HyperLiquid HYPE Token Launch: Everything You Need to Know

Table of Contents

BSCN

Other articles published on Dec 3, 2024

PLTR Hits 52-Week High After FedRAMP Authorization, Opening New Doors for the Firm

Why The Crypto Market Could Drop After Trump’s Inauguration

Best Meme Coins to Buy Now: BTFD Sells Over 16B Coins in a Week as Pepe Coin and Ponke Seek Bulli...

21Shares Introduces Four New ETPs for Pyth, Ondo, Render, and Near

DOGE Approaches $0.5 With $1 in Sight, But Market Strategist Predicts DOGEN Will Skyrocket From $...

Investors Observe ONDO Coin Price Surge and Market Dynamics

Join our free newsletter for daily crypto updates!