Crypto Exchange HyperLiquid to Airdrop 310M Tokens to Early Adopters

<a href=”https://www.coindesk.com/learn/what-is-a-dex-how-decentralized-crypto-exchanges-work/” target=”_blank”>Decentralized exchange</a> HyperLiquid announced the launch of HYPE, a native token that will be airdropped to early adopters on Friday.

One billion tokens will be issued, with 31% going to users who earned points in a campaign that ended in May. A further 23.8% will be set aside for current and future core contributors, the latter of which will be locked for one year.

HyperLiquid has more than 220,000 users and has racked up $2.4 billion in trading volume over the past 24 hours.

Points campaigns have become increasingly common in the <a href=”https://www.coindesk.com/learn/what-is-defi/ ” target=”_blank”>decentralized finance</a> (DeFi) sector this year as they incentivize the use of the platform in return for eventual token airdrops. They have even spurred the birth of a<a href=”https://www.coindesk.com/business/2024/10/11/scroll-airdrop-allocation-met-with-dismay-from-farmers” target=”_blank”>irdrop farmers</a>, investors who move liquidity from one project to another in order to be eligible for various airdrops.

Unlike a standard governance token, HYPE will have numerous functions including staking capabilities and a payment method for gas fees. Staking HYPE will secure HyperBFT, the proof-of-stake consensus algorithm that powers the HyperLiquid platform.

The token generation event will take place at 07:30 UTC on Nov. 29 and a HYPE/USDC market will be added on HyperLiquid’s spot trading book.

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  • bitcoinBitcoin(BTC)$117,184.00-4.04%
  • ethereumEthereum(ETH)$2,967.55-2.19%
  • rippleXRP(XRP)$2.87-2.21%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$682.23-2.51%
  • solanaSolana(SOL)$160.08-4.25%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.191513-7.28%
  • tronTRON(TRX)$0.299753-1.16%
  • staked-etherLido Staked Ether(STETH)$2,964.40-2.30%