Nov 28, 2024 | 09:42 GMT+1
HyperLiquid, a decentralized exchange, has unveiled its native token, HYPE, set to airdrop 310 million tokens to early adopters this Friday.
Key Details:
- Total Supply: 1 billion tokens
- Allocation: 31% (310 million) reserved for users who earned points in a campaign ending in May.
- Core Contributors: 23.8% set aside for team members, locked for one year.
The platform boasts over 220,000 active users and an impressive $2.4 billion in daily trading volume.
Point-based campaigns have gained popularity in the DeFi space this year, rewarding platform users with eventual token airdrops. This trend has even sparked the rise of “airdrop farmers,” who chase liquidity opportunities across platforms to earn token rewards.
HYPE Utility:
Unlike traditional governance tokens, HYPE will enable staking and be used as payment for gas fees. Staking HYPE will also secure HyperLiquid’s HyperBFT proof-of-stake consensus mechanism, ensuring platform stability.
The token generation event is scheduled for 07:30 UTC on Nov. 29, 2024, with a HYPE/USDC trading pair launching on HyperLiquid’s spot market shortly after.
