HyperLiquid Activates Staking on Its Mainnet with an Initial $8.4B Token Lock Up and 16 Validators

On-chain perpetual exchange heavyweight HyperLiquid unveiled native staking for its (HYPE) token on Dec. 30, allowing holders to generate rewards for blockchain participation.

Decentralized perpetual exchange HyperLiquid has activated staking on its mainnet, with an initial token lock up of $8.4 billion and 16 validators.

On Friday, on-chain perpetual exchange heavyweight HyperLiquid unveiled native staking for its (HYPE) token, allowing holders to generate rewards for participating in the blockchain network.

The protocol, which is known for its decentralized derivatives trading venue, reports 2.64 billion in 24-hour trading volume and generates over $1 million daily in fee revenue, according to DeFiLlama.

Hyperliquid is currently generating $1m+ in revenue nearly every day. pic.twitter.com/3y9iHmkXPj

Within the first hour of staking activation, users deposited approximately 7 million HYPE tokens, which were distributed across 16 validators. Staking involves locking up cryptocurrencies to secure decentralized networks, with stakers earning rewards for their contributions.

HyperLiquid confirmed a total of 300 million tokens, valued at $8.4 billion, were staked at the feature’s launch on its layer-1 blockchain. The Hyper Foundation, a non-profit dedicated to the HYPE ecosystem, clarified the procedure for vested tokens, stating:

Users can stake HYPE to a trusted validator and earn staking rewards in HYPE. Users may consider different metrics when choosing which validators to stake to, such as uptime, commission, reputation, and community contributions.

Hyper Foundation

Launched last month, HYPE has seen impressive growth, trading at $3.57 to $27.44 at the last check. Its 9.2 billion market cap ranks the token above established DeFi projects like Uniswap (UNI) and Litecoin (LTC).