The decentralized trading platform HyperLiquid officially launched and airdropped its native token HYPE today. The trading volume reached US$165 million in the first hour of opening, and the price also rose from the opening price of US$2 to the level of US$4, bringing the market value of the token to US$1.3 billion and the fully diluted valuation (FDV) to nearly US$4 billion.
According to the official airdrop program, 333 million tokens out of a total supply of 1 billion are already in circulation. Of the total supply:
38.88% allocated to future emissions and community rewards;
23.8% is reserved for existing and future core contributors.
According to the official introduction, HYPE tokens can be used for staking and support HyperBFT (a consensus algorithm based on proof of stake) run by the platform. Additionally, it can be used to pay transaction fees and create decentralized finance (DeFi) applications.
The number of token airdrops users receive is based on the “Points” they earned during the six-month period ending in May this year. Many people have made huge profits through this airdrop event. Many people in the community even pointed out that HyperLiquid’s airdrop may be the largest airdrop event so far this year (it can be imagined as issuing more than $1 billion worth of tokens to users).
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