Coinspeaker Hyper Foundation Launches HYPE Token Staking on Mainnet
Hyper Foundation, the nonprofit organization launched by Hyperliquid in October to oversee the development and growth of its blockchain, has officially introduced staking for the HYPE token HYPE $28.09 24h volatility: 1.1% Market cap: $9.39 B Vol. 24h: $180.05 M on the mainnet, marking a major milestone for the platform.
According to an announcement today, December 30, the move allows users to secure the network by delegating tokens to trusted validators. The new staking functionality comes exactly one month after the token’s debut during HyperLiquid’s genesis event in November.
Users Can Now Stake HYPE on Mainnet
The foundation believes that adding support for staking HYPE tokens on the mainnet will empower the community to play an active role in securing the HyperLiquid blockchain.
According to the organization, users can choose their preferred validator to stake their assets based on key metrics such as uptime, commission rates, reputation, and community contributions.
Once selected, the validators will then propose new blocks on the network in proportion to the amount of HYPE staked to them. This setup mirrors other proof-of-stake systems, ensuring network security and decentralization. Users staking their tokens can earn rewards in HYPE, incentivizing participation.
To open the floor for users, HyperLiquid has staked about 300 million tokens valued at around $8.4 billion. Within the first hour of launch, HYPE holders staked seven million of the digital asset. The tokens are staked across 16 validators.
Hyper Foundation to Launch a Delegation Program
In addition to the staking, the Hyper Foundation announced plans to introduce a Delegation Program to support high-performing validators and further decentralize the network.
While the details are still forthcoming, the foundation clarified that locked tokens can also be staked, but any rewards earned will remain locked.
Staking is now live on mainnet.
Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network. Like other proof of stake networks, new blocks on Hyperliquid are proposed by validators in proportion to… pic.twitter.com/J8uECmHGwK
— Hyper Foundation (@HyperFND) December 30, 2024
Buoyed by the news of the new staking functionality, HYPE gained traction on Monday morning, rising by 3% at press time. According to CoinMarketCap data, HYPE commands a market cap of $9.46 billion, with its value nearing $30. The digital asset started its journey at $3.57 and is now nearing $30 per token.
Meanwhile, HYPE was formally launched into the crypto market in November following the establishment of the Hyper Foundation. Designed to power the ecosystem, the digital asset introduced several functionalities, including serving as the gas token for HyperEVM, Hyperliquid’s execution environment.
The token is tradable on the platform’s decentralized exchange, with trading pairs available against USDC.
The foundation allocated 31% of the total supply (310 million tokens) for a community airdrop, rewarding active users who contributed to the ecosystem’s growth.
Another 38.8% was reserved for future community rewards, while 23.8% went to core contributors under a one-year lock-up period. No tokens were allocated to private investors, centralized exchanges, or market makers to reinforce its community-first vision.
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Hyper Foundation Launches HYPE Token Staking on Mainnet