Decentralized finance (DeFi) protocol Hyperliquid has entered the ranks of the largest airdrops in history with its genesis event on Nov. 29, when it distributed 310 million HYPE tokens to its community.
Decentralized finance (DeFi) protocol Hyperliquid has distributed 310 million HYPE tokens to its community in one of the largest airdrops in history.
The genesis event, which took place on Nov. 29, saw the HYPE tokens being airdropped to early adopters of the protocol. At launch, the tokens were valued at $3.90 each, making the total distribution worth approximately $1.2 billion, according to data from CoinGecko.
The HYPE token price surged by 63% within roughly 12 hours, reaching $6.16 at the time of writing. Its market capitalization currently stands at close to $2 billion.
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