The decentralized derivatives trading platform and Layer1 blockchain HyperLiquid announced that it will launch its native token HYPE today (29th) and issue large-scale airdrops to early users to seize market attention.
Different from traditional governance tokens, HYPE not only has a staking function, but can also be used to pay transaction fees (Gas fees). Users can pledge HYPE to support the HyperBFT consensus mechanism based on Proof of Stake behind the HyperLiquid platform to further enhance platform stability and security.
The HYPE token generation event (TGE) will be launched at 3:30 pm on November 29, and the HYPE/USDC spot trading pair will also be launched simultaneously on the HyperLiquid platform. Hyper Foundation says
“HYPE’s TGE is an important milestone in Hyperliquid’s development journey and will unlock core capabilities at every layer of the technology stack.
The total issuance of HYPE is 1 billion, and the token distribution ratio is as follows:
31% (310 million) tokens will be airdropped to users participating in the points activity on November 29, which ended in May;
38.8% (388 million) tokens are reserved for future community rewards and incentive plans;
23.8% (238 million) tokens will be reserved for the core team and future contributors. New contributors who will join in the future must lock the tokens for one year before they can be unlocked for circulation;
6% (60 million) tokens are allocated to Hyper Foundation for operating expenses.
Hyperliquid emphasizes that HYPE token distribution is not reserved for private investors, centralized exchanges or market makers to maintain its belief in "community first and complete decentralization."
HyperLiquid currently has more than 220,000 active users and has achieved a transaction volume of up to 2.4 billion US dollars in the past 24 hours, demonstrating the strong appeal and growth potential of the platform.
Since this year, points activities have become more and more popular in the field of decentralized finance (DeFi). Many platforms have used such activities to encourage users to participate and promised to use airdrop tokens as rewards, successfully attracting a large number of investors to join. This gave birth to a group of "airdrop hunters". In order to obtain air investment qualifications, these investors often quickly transfer liquidity from one project to another, making the market more dynamic but also more competitive.
"HyperLiquid's native token HYPE goes online today! Simultaneously "airdrops 310 million tokens" to users." This article was first published on (Block Guest).