According to a report from CoinDesk, the Layer-1 blockchain HyperLiquid is known for its decentralized derivatives exchange and recently announced on the X platform that it will enable native staking features for HYPE token holders.
Stakers can choose which validator to stake their tokens with and will receive rewards for securing the network. At launch, HyperLiquid staked 300 million tokens (worth approximately 8.4 billion USD), and in the first hour, users added another 7 million tokens. These tokens are distributed across 16 validators.
Tokens that are locked due to vesting schedules can also be staked, but the rewards earned will remain locked.
The launch of the staking feature occurred one month after the HYPE token was issued. The initial issuance price of the token was 3.57 USD, and it has now risen to 27.89 USD, according to CoinMarketCap.
Currently, the market capitalization of HYPE is 9.2 billion USD, making it one of the top 20 tokens, surpassing Bitcoin Cash (BCH), Pepe (PEPE), and Litecoin (LTC).
The exchange has reached a cumulative trading volume of 2.64 billion USD in the past 24 hours, with DefiLlama reporting daily revenue exceeding 1 million USD.
