Hyperliquid, a Layer 1 blockchain, is preparing to launch its native token, HYPE. The event, scheduled for 07:30 UTC on November 29, aims to fully decentralize the platform by introducing new features to its trading and blockchain network.
The HYPE token will serve as the foundation for operational and trading activities. It will provide the HyperBFT consensus mechanism, an optimized proof-of-stake system that enables high transaction throughput and near-instant finality with an average completion time of 0.2 seconds.
In addition, HYPE will act as the native gas token on HyperEVM, the platform’s execution layer. The token will also play a key role in Hyperliquid’s decentralized exchange, allowing trading against USDC.
