HYPE Token to Secure Network and Further Functionality of Ecosystem

The Hyper Foundation recently launched Hype as a native token, which is significant for the Hyperliquid blockchain ecosystem. HyperBFT’s PoS consensus secures the network with the token, which will facilitate financial operations on the upcoming HyperEVM.

Hyperliquid ecosystem’s native token, HYPE, was recently launched. The token plays a crucial role in securing the network through HyperBFT’s PoS consensus and will facilitate financial operations on the upcoming HyperEVM.

Eligible users can claim HYPE as part of the Genesis Event and also opt to receive a Hypurr NFT by November 11, 2024.

HYPE Token to Secure Network and Further Ecosystem Functionality

The Hyperliquid ecosystem sees HYPE becoming a staking token for HyperBFT and a financial tool for dApps on HyperEVM. With HyperEVM preparing for launch, any dApp that deploys on the network will be able to immediately benefit from Hyperliquid’s massive liquidity and robust trading infrastructure.

In addition, it will also encourage stakeholders to participate in network governance and stack so that the network remains secure and scalable.

However, Hyperliquid’s DEX has already established itself as a primary platform for trading derivatives, facilitating some of the deepest onchain liquidity across several assets.

The liquidity pool will be easily integrated into developers’ HyperEVM, creating more accessible and efficient financial tools. The foundation aims to build a high-performance blockchain ecosystem, uniting liquidity, governance, and innovation.

Airdrop and Genesis Event to Distribute Tokens

Starting on HyperEVM’s Genesis Event, the distribution of HYPE tokens will begin, and eligible users can start claiming their tokens.

Moreover, the airdrop is linked to Hyper Foundation’s recent points-based rewards campaign, encouraging users to engage on the Hyperliquid platform by participating in draws, adding liquidity, and staking.

The airdrop will be granted to participants who have points from the campaign, further encouraging earlier involvement with ecosystem members. Those claiming HYPE will also be able to mint a limited edition Hypurr NFT to mark the HyperEVM’s mainnet launch.

HYPE Token to Boost Engagement Ahead of HyperEVM Mainnet

Hyperliquid’s announcement comes with increased activity on the DEX as the platform prepares for the launch of HyperEVM mainnet.

Daily transaction volumes on the DEX have already exceeded $1 billion, beating other decentralized trading platforms.

This increase in activity underscores growing user interest in the platform’s evolving ecosystem and native token launch.

Hyperliquid is evolving from a DEX to a full blockchain ecosystem, with HYPE driving governance and operations. Hyperliquid’s HyperEVM launch will combine on-chain tools with high-performance trading to enhance the accessibility and efficiency of decentralized finance (DeFi).

The Hyper Foundation will accelerate Hyperliquid’s ecosystem through early adopters’ incentives and by using PoS consensus to secure the network.