HyperLiquid DEX to Launch Native HYPE Token on November 29

HyperLiquid, a decentralized exchange (DEX), is set to launch its native token, HYPE, on November 29, 2024, at 07:30 UTC.

Decentralized exchange (DEX) HyperLiquid is set to launch its native token, HYPE, on November 29, 2024, at 07:30 UTC, as part of the platform’s Genesis event.

The HYPE token will serve as the gas token for HyperEVM, the platform's execution environment, and will be used for trading on HyperLiquid's DEX, where users can trade HYPE against USDC.

The event will also include an airdrop for early adopters who participated in HyperLiquid's campaign.

HYPE Token Distribution: Breaking Down the Allocation

The total supply of HYPE will be 1 billion tokens, which will be distributed as follows:

31% for Genesis Distribution (310 million tokens): These tokens will be airdropped to users who participated in HyperLiquid's points campaign, and the airdrop will be fully unlocked at the genesis event.

38.88% for Future Emissions & Community Rewards (388.88 million tokens): These tokens will be released gradually as part of HyperLiquid’s reward system, promoting further growth and user engagement.

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.

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.

0.3% for Community Grants (3 million tokens): A portion of the tokens will be allocated to grants for community-driven projects.

0.012% for HIP-2 (120,000 tokens): These tokens will be allocated to the Hyperliquidity protocol.

No tokens will be allocated to private investors, centralized exchanges, or market makers.

HyperLiquid’s Roadmap

The HYPE token is designed to play a central role in HyperLiquid's decentralized exchange ecosystem. It will be a tradable asset, used for staking and securing the HyperBFT consensus mechanism, which is integral to the platform’s decentralized nature.

The HyperBFT consensus algorithm, an optimized proof-of-stake model, reportedly enables high throughput and near-instant finality, making HyperLiquid a scalable option for decentralized finance (DeFi).

Moreover, the HYPE token will be the native fuel for HyperEVM, the platform’s execution environment. HyperEVM allows developers to build decentralized applications (dApps) directly on the HyperLiquid network.