Hyperliquid Announces New HYPE Tokens Ahead Of Mainnet Launch

Hyperliquid, a decentralized exchange specializing in perpetual derivative trading, is set to introduce its new HYPE tokens ahead of the HyperEVM mainnet launch. The Hyper Foundation shared this news on X, highlighting a potential airdrop where eligible users can choose to receive HYPE tokens and a Hypurr NFT during the initial distribution.

Additionally, Hyperliquid saw its daily transaction volumes recently surpass $1 billion, highlighting the excitement surrounding the upcoming token distribution.

A Key Role

The introduction of the HYPE token will coincide with user anticipation for the HyperEVM mainnet launch. The Hyper Foundation stated that this new token will play a vital role in the Hyper BFT proof-of-stake consensus mechanism and the ongoing development of HyperEVM.

In its announcement, the foundation mentioned that as part of the Genesis distribution, qualifying users can opt to receive HYPE tokens and a Hypurr NFT to celebrate the imminent HyperEVM mainnet release. They urged users to review and accept all Genesis event conditions on their website by November 11th, 2024, to be eligible for any new tokens.

Robust Liquidity

The Hyper Foundation praised Hyperliquid and its order books for providing the deepest and most robust liquidity across a wide range of assets. They believe that the launch of HyperEVM will enhance overall liquidity and various native financial tools, making finance both efficient and accessible.

Hyperliquid already facilitates perpetual derivatives trading by aggregating liquidity via multiple sources and offers several native tokens on its Layer 1 application-specific blockchain. As of April 16th, Hyperliquid began spot trading for the inaugural HIP-1, making its native token PURR available. At that time, it announced that approximately 50% of the total cumulative supply would be airdropped to holders, while the remainder would support the PURR/USDC liquidity pool.