The Hyperliquid protocol has officially launched its staking feature on its mainnet, allowing token holders to earn rewards by participating in network security.
According to the announcement on December 30, users can choose validators for staking tokens based on various criteria such as operational time, commission rates, reputation, and contributions to the community. This feature launched alongside 16 validators.
The Hyperliquid protocol provides a decentralized trading platform for digital assets. According to data from DefiLlama, in December, Hyperliquid achieved a total trading volume of over $12 billion, generating over $8.6 million in accumulated revenue.
Accumulated fees of Hyperliquid | Source: DefiLlama
When staking, users will lock tokens to support network activities such as transaction validation and blockchain security. In return, participants will receive rewards, typically in the form of additional tokens.
Data compiled by ASXN shows that there has been $344 million worth of HYPE tokens staked.
The HYPE airdrop of Hyperliquid took place at the end of November, with their community receiving 310 million HYPE tokens, equivalent to 31% of the total supply. Since then, the price of HYPE has surged from nearly $3.90 on November 29 to about $26.80 at the time of writing.
Hyperliquid has allocated 38.8% of the remaining total supply for future releases and community rewards, along with 6% for the Hyper Foundation fund, 0.3% for grants, and 23.8% for key members with a one-year lock-up period.
Decentralized exchanges like Hyperliquid reached record highs in December with total monthly trading volume soaring to $462 billion, primarily driven by expectations of a more favorable regulatory regime in the U.S. by 2025.
Taxes on staking rewards
Although the crypto industry is anticipating a more favorable environment for digital assets in the United States, there are still many obstacles to overcome.
For example, the U.S. Internal Revenue Service (IRS) recently reaffirmed that rewards from staking activities do not create new assets and must be taxed upon receipt.
This agency used its 2023 guidelines to respond to a lawsuit regarding taxes on income from staking, stating that block rewards are considered 'income' from the moment they are created and are taxed based on market value.
In another development, on December 27, the IRS announced final regulations related to decentralized protocols. This tax agency classified front-line cryptocurrency trading protocols as brokers, requiring them to disclose total amounts earned from digital asset transactions, along with details about the related taxpayers.
https://tapchibitcoin.io/hyperliquid-trien-khai-tinh-nang-staking-tren-mainnet.html