The Hyperliquid decentralized finance (DeFi) protocol has launched a native staking system on its mainnet, allowing holders to earn rewards for securing the network.

As announced on December 30, users can choose validators to stake tokens based on different metrics, such as uptime, fees, reputation, and contributions to the community. The debut offering featured 16 validators.

The Hyperliquid protocol offers decentralized trading of crypto assets. According to DefiLlama, it has accumulated over USD 12 billion in trading volume in December, generating over USD 8.6 million in accumulated revenue.

By staking, users lock tokens to support the operations of a network, such as validating transactions and securing the blockchain. In return, participants earn rewards, typically in the form of additional tokens.

According to data collected by ASXN, tokens valued at USD 344 million have been staked in HYPE.