Hyperliquid Launches Native Staking on Mainnet, Distributes US$300M Worth of HYPE Tokens to the Community

One of the most popular decentralised exchanges (DEXs), Hyperliquid, has launched native staking on its mainnet.

Hyperliquid, a leading decentralised exchange (DEX), has introduced native staking on its mainnet, allowing users to stake HYPE tokens to contribute to network security and earn rewards.

According to an announcement on December 30, the integration enables participants to choose from 16 validators based on key metrics such as uptime, commission rates, reputation, and community contributions. Notably, US$300M (AU$482M) worth of HYPE tokens have been staked to date, as reported by ASXN.

This development comes after the protocol's native token, HYPE, was airdropped in late November, with 310 million tokens — 31% of the total supply — being distributed to the community, which included nearly 100,000 eligible users.

Community Focus Distinguishes Airdrop

Interestingly, this airdrop set a new standard for most crypto projects, changing the game in the process. To provide some context, Hyperliquid's average allocation ranged from US$45K (AU$72K) to US$50K (AU$80.4K), making it one of the most lucrative airdrops in crypto history.

Furthermore, in contrast to typical airdrops that largely favour venture capitalists (VCs), Hyperliquid allocated over 70% of its token supply to community-focused initiatives.

The team's tokens were also vested for at least a year in a move that highlighted its commitment to users, a strategy further supported by the absence of private investors.

Since then, the token's price has surged from approximately US$3.90 (AU$6.27) on November 29 to US$26.8 (AU$41.8) at the time of writing. Notably, Hyperliquid plans to allocate over 30% of the remaining supply for future emissions and community rewards.

Virtuals Protocol, Aave and Pudgy Penguins Lead Crypto Market Recovery

In other related news, the broader DeFi space also saw significant activity in December, with DEXs reaching a record-high monthly trading volume of US$462B (AU$741.9B). This growth can be partly attributed to optimism surrounding potential regulatory changes in the United States in 2025.