Foresight News reports that the decentralized derivatives trading platform Hyperliquid Foundation has announced that its native token HYPE Genesis event will be held on November 29 at 15:30. The maximum supply of HYPE is 1 billion tokens, of which 38.888% will be reserved for future distributions and community rewards, 31% will be used for the genesis distribution, 23.8% will be allocated to current and future core contributors, 6% will be used for the Hyper Foundation budget, 0.3% will be used for community funding, and 0.012% will be used for HIP-2 (Hyperliquidity). Unallocated tokens during the genesis event will also be used for future emissions and community rewards. In addition, core contributor tokens will be locked for 1 year after genesis, with most tokens completing linear unlocking between 2027-2028, and some tokens continuing to unlock after 2028. HYPE will also be used as the gas fee token for HyperEVM.