Hyperlane to Airdrop $HYPER Tokens to Users Ahead of Its Mainnet Launch

The team behind interoperability protocol Hyperlane shared Thursday their upcoming token airdrop plans happening at the end of the month.

output: Hyperlane, the interoperability protocol backed by Crypto fund Variant, is sharing its upcoming token airdrop plans, which are set to take place at the end of April.

The team shared Thursday that the airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release.

The token distribution will mostly go to the community, with 57% of the supply going to users, while the remaining circulating tokens will be distributed to the core team (25%), investors (10.9%), and the foundation’s treasury (7.1%).

The team also shared that the airdrop will be fully unlocked for community recipients, while the core team and investors' tokens will be locked for the first 12 months.

In addition to the token distribution to early users, Hyperlane is coming out with their “expansion rewards” program, which is based on developer and cross-chain end-user activity, and will be distributed to users each quarter proportional to their activity on the network.

“The retroactive token allocations at TGE are just the first of many over the coming several years, as protocol ownership begins moving into the hands of the developers and end-users who rely on Hyperlane to send assets and other critical messages across chains,” said Nam Chu Hoai, a co-founder of Hyperlane.Hyperlane is a protocol that enables cross-chain messaging and transfer of assets without wrapping or creating a single-use bridge for each chain pair.

Instead, Hyperlane acts as a hub that any chain can connect to, thereby enabling the transfer of any asset or message type between any of the supported chains. Currently, Hyperlane supports eight chains: Arbitrum, Optimism, Gnosis Chain, Polygon, Sepolia (a testnet for Ethereum), Metis, integration pendingChainlink Network and integration pendingOpen Network.

The protocol is powered by a network of Hyperlane modules deployed on each chain. These modules are responsible for listening for and executing cross-chain requests, and they interact with each other via a common Hyperlane contract deployed on each chain.

Hyperlane is funded by Crypto fund Variant and has raised a total of $37.5 million to date.