Hyperliquid celebrated a significant milestone this Friday (29) with the launch of its HYPE token, marking the culmination of its highly anticipated Token Generation Event (TGE).
Thus, HYPE had an explosive debut, rising 125% within hours of launch.
Community reaction to Hyperliquid's TGE
TGE, announced in a post on X, allocated 31% of the total HYPE as part of its initial distribution. Users noted that it was a “perfect airdrop,” citing no downtime, delays, slowdowns or insider selling.
This has generated a wave of excitement and analysis in the crypto community. Abhi, a crypto analyst, praised Hyperliquid’s airdrop strategy.
Dear projects! Study Hyperliquid and understand how an airdrop should be done. It literally allocated 31% of HYPE's TGE airdrop on the first day of launch. It launched with a $4 billion FDV and a $1.5 billion market cap. I believe this will be another successful protocol, he commented.
Furthermore, Hyperliquid’s innovative approach to TGE reflects its commitment to decentralization and organic ecosystem growth. The tokenization event marks the latest chapter in the protocol’s rapid rise in decentralized finance (DeFi).
The launch thus paves the way for significant developments. Among them is a move towards greater decentralization through community governance and a planned expansion of its validator network.
Congrats to everyone at Hyperliquid now. Good to know you can believe in something. $22 per point. Looks like the team has already cooked it, with only 30% distributed, noted one DeFi explorer.
Hyperliquid currently operates with four internal validators. The introduction of HYPE will allow the integration of external validators to improve operational security and decentralization. Aylo, a researcher at Alpha Please, emphasized the importance of product-market fit (PMF) in the success of the project.
PMF + airdrop really works. You just need to identify the protocols/apps that people will continue to use regardless of the airdrop because the product is really good/solves a problem. Many examples of this cycle: Jito, Kamino, HyperLiquid, Grass, etc, Aylo said.
Some experts, however, have urged caution. Airdrop researcher FIP Crypto advised investors to be wary of projects that rely entirely on airdrops to attract users.
It's an immediate red flag for me, the researcher expressed.
In fact, HYPE has not conducted any funding rounds, with its first token unlock event scheduled for November 2025.
Hyperliquid Plans Ethereum Compatibility and Growth
However, Hyperliquid is positioned for sustained growth. At launch, it boasted a market cap of nearly $1.5 billion and plans for Ethereum compatibility. Other plans include community-driven governance and decentralized validators.
The success of its TGE and HYPE’s appreciation reflect strong community support and growing interest in its ecosystem. Amid the launch, one of Hyperliquid’s largest investors was reported to have received 508,985 HYPE in the genesis airdrop.
HYPE Price Performance. Source: Hyperliquid DEX
Meanwhile, Hyperliquid is gearing up for the launch of HyperEVM. The feature will bring Ethereum Virtual Machine (EVM) compatibility to its blockchain. This update will allow Ethereum developers to deploy decentralized applications (dApps) directly on the Hyperliquid platform. This will take advantage of the DEX’s gas-free trading and fast transaction speeds.
Hyperliquid is transitioning from being a specialized appchain to a general-purpose L1, with more than 35 teams ready to build on the new HyperEVM ecosystem, said MONK, a researcher at Messari.
Notable projects including Felix Protocol and HyperLend are in line to join the ecosystem. They will offer stablecoins, lending platforms, and other DeFi solutions.
As Hyperliquid moves into its next phase, the launch of HyperEVM and its push towards decentralization will likely solidify its place as a leader in DeFi innovation.
For perps, the gold standard is a CEX, so if Hyperliquid offers a better/similar UX and more transparency while getting people off CEXs with KYC, that’s a net win. Congrats if you made money from this today, use it to get more friends off CEXs!, Helius Labs CEO Mert Helius humorously commented.
Hyperliquid's HYPE TGE Sets New Standards in DeFi appeared first on BeInCrypto Brasil.
