- Hyperliquid introduces its native token HYPE with a token distribution plan
- The maximum supply of HYPE tokens is 1 billion
Decentralized perpetuals exchange Hyperliquid has officially launched its native token HYPE.
Hyper Foundation announced the token generation event for HYPE went live on Friday, November 29, 2024.
“The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack,” the Hyper Foundation said in a blog post.
HYPE, introduced in October by Hyper Foundation, includes a community airdrop.
Approximately 31% of the total supply is for genesis distribution, with 38.89% for future emissions and rewards, 23.8% for core contributors, 6.0% for the foundation’s budget, and 0.3% for community grants.
76.2% of the tokens will go to the community, with 310,000,000 tokens allocated for eligible participants in the genesis event.
$HYPE, the native token of the Hyperliquid L1, is live. https://t.co/1UUU37WXUq pic.twitter.com/IYsWcAr53K
— Hyperliquid (@HyperliquidX) November 29, 2024
HYPE Token Distribution
Out of the total supply, 388,880,000 tokens will go to Hyperliquid’s future emissions and rewards program. Tokens reserved for core contributors will remain locked for a year. No allocations for private investors, centralized exchanges, or market makers.
The launch of the native token is part of Hyperliquid’s growth strategy, positioning it against competitors like Jupiter and SynFutures. HYPE will play a crucial role in the protocol’s decentralized finance applications.
