BlockBeats Latest News! The decentralized derivatives trading platform Hyperliquid is about to迎来 an exciting moment—the native token HYPE's genesis event will officially launch at 15:30 Beijing time on November 29! 🎉

The total supply of HYPE is 1 billion tokens, and the distribution plan is carefully designed. 38.888% of the tokens will be used for future emissions and community rewards to ensure the vitality and sustainable development of the community. The genesis allocation accounts for 31.0%, while 23.8% is reserved for current and future core contributors to incentivize their contributions to the platform's growth. Additionally, 6.0% of the tokens will be used for the super foundation budget to support the long-term development of the platform. Community subsidies and HIP-2 will also receive 0.3% and 0.012% of the allocation, respectively.

During the genesis event, eligible participants will share 310 million tokens, which will be fully unlocked and become part of the community. Unallocated tokens will be reserved for future issuance and community rewards to ensure the sustainability of the platform. The Hyper Foundation budget will receive 60 million HYPE, while grants and Hyperliquidity (HIP-2) will receive 300 and 120,000 HYPE, respectively.

This genesis event is not only an important milestone for Hyperliquid but also a noteworthy dynamic in the blockchain industry. For crypto enthusiasts, this is undoubtedly an exciting opportunity!

What are everyone's expectations for the future development of HYPE? Feel free to share your thoughts and insights in the comments section, and let's discuss this promising project together!