Hyperliquid, a leading decentralized perpetual futures trading platform, has announced the launch of its native token, HYPE and its airdrop.

This new token will be central to Hyperliquid's ecosystem growth, offering users governance rights, enhanced liquidity options, and opportunities to stake Hyperliquid. The HYPE token launch coincides with the debut of Hyperliquid's EVM-compatible mainnet, reinforcing its prominence in the decentralized finance (DeFi) sector.

What is Hyperliquid?

Hyperliquid is a decentralized perpetual exchange specializing in perpetual futures trading, offering leverage and access to exotic markets like pre-markets.

Built on its own Layer 1 blockchain, Hyperliquid provides fast transactions, high throughput, and deep liquidity, supporting up to 20,000 transactions per second.

Since its launch, Hyperliquid has become one of the leading perpetual trading platforms, frequently surpassing competitors (like dYdX) in daily trading volume.

The platform has also conducted a point campaign in anticipation of the HYPE token airdrop, which is now nearing its conclusion. We’ve also written an article detailing what is Hyperliquid, to help you better understand its unique features and advantages.

Launch of the HYPE Token

The launch of the HYPE token is a major milestone for Hyperliquid, enabling governance and incentives for users.

The HYPE token allows community-driven governance and facilitates staking and liquidity incentives. The genesis distribution has begun, with an airdrop planned for November 29, giving early adopters an opportunity to participate in the Hyperliquid ecosystem.

The Hyper Foundation, announced on October 14th, will oversee the development of the Hyperliquid protocol. The foundation revealed that the HYPE token is crucial for the HyperBFT proof-of-stake consensus, HyperEVM, and other roadmap developments. Check out our guide on the best Hyperliquid validators to get started.

Eligible users will also receive an NFT called Hypurr alongside the HYPE token airdrop.

To validate eligibility, users must accept the Genesis Event conditions before November 11 via the Hyper Foundation's official website: https://hyperfoundation.org/genesis

HyperEVM: The next major evolution

The launch of the HYPE token coincides with the deployment of the HyperEVM, an EVM-compatible mainnet that will enable any DeFi application built on Hyperliquid to access deep liquidity and native financial primitives.

This evolution aims to address the increasing issue of liquidity fragmentation by allowing different protocols to benefit from Hyperliquid's pooled liquidity.

With these developments, Hyperliquid is poised to make a significant impact in the DeFi space, combining performance, liquidity, and accessibility—all backed by its new HYPE token and HyperEVM rollout.