Hyper Foundation Unveils HYPE Token Ahead of Main Net Launch

The Hyper Foundation is gearing up for a major development, announcing that Hyperliquid users will soon receive a native token, HYPE, in anticipation of the HyperEVM main net launch.

This token will play a crucial role in the platform, acting as a utility within its proof-of-stake system, HyperBFT, while also supporting the upcoming HyperEVM network and future upgrades.

The HYPE token distribution will be available through two main avenues: users can either participate in the initial token allocation if eligible or obtain a Hypurr NFT, which has been launched to mark the occasion. Further details about the token’s rollout, dubbed the “Genesis Event,” are expected soon.

Recently, the platform has recorded daily trading volumes exceeding $1 billion, signaling strong interest in its features. Hyperliquid allows for decentralized trading of perpetual derivatives and cryptocurrencies with leverage, facilitated by a proprietary trading engine that ensures quick order processing—ideal for active traders. Unlike traditional exchanges, users maintain control over their assets via self-custody.

READ MORE:

Bitcoin Rises While Google Searches Hit Four-Year Low

Perpetual swaps, a type of derivative contract that doesn’t expire, are central to Hyperliquid’s trading offerings, reflecting a broader shift toward decentralized finance. Although trading volume is high, profits are not directed to the team; instead, fees benefit the community, going to a liquidity pool and insurance fund.

Operating as a Layer 1 blockchain, Hyperliquid draws liquidity from multiple sources to offer competitive trading conditions. The platform’s ecosystem also includes tokens like Purr and Points, which serve various roles in rewarding users and powering its financial system.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.