AI Summary
- The Hyper Foundation has launched its native Hyperliquid HYPE token and sent its airdrop to eligible wallets in one of the most positive receptions since the beloved Uniswap airdrop in 2020.
- Hyperliquid is a decentralized exchange and layer 1 that utilizes a proof-of-stake consensus to achieve whopping 200k transactions per second with a 0.2 second finality.
- The HYPE token and the Hyper Foundation have been praised for their smooth token launch and airdrop reward system.
- Utilizing a referral system, Hyperliquid dedicated 31% of the total HYPE supply to active community members who participated in the platform’s token generation event. Currently sitting at $4.48 with a market cap of over $4.2 billion (diluted), trading volume for the token reached highs of $157 million within its first hour of trading. The HYPE token can be staked to help secure the Hyper Foundation’s HyperBFT blockchain network.
The Hyper Foundation has launched its native Hyperliquid HYPE token and sent its airdrop to eligible wallets in one of the most positive receptions since the beloved Uniswap airdrop in 2020.
Hyperliquid is a decentralized exchange and layer 1 that utilizes a proof-of-stake consensus to achieve whopping 200k transactions per second with a 0.2 second finality.
The HYPE token and the Hyper Foundation have been praised for their smooth token launch and airdrop reward system.
HYPE token launches to positive fanfare on Crypto Twitter
Utilizing a referral system, Hyperliquid dedicated 31% of the total HYPE supply to active community members who participated in the platform’s token generation event.
Currently sitting at $4.48 with a market cap of over $4.2 billion (diluted), trading volume for the token reached highs of $157 million within its first hour of trading.
The HYPE token can be staked to help secure the Hyper Foundation’s HyperBFT blockchain network. The token may also be used to pay transaction fees and use decentralized applications on the network.
How Hyperliquid’s co-founder built a DEX where traders came first
Hyperliquid’s co-founder Jeff Yan prioritized building a product that users and traders would enjoy using over making a product for venture capitalists who tend to extract liquidity for profit from crypto projects over contributing to its greater success on an internal level.
In a recent interview with the WSH Podcast, Jeff Yan stated that:
“I think Hyperliquid is in a category of its own… with regards to whether more or less money raised correlates with success…
I don’t think raising money matters that much If you can’t pay the bills then probably raising some money is reasonable. In the case of Hyperliquid, the goal is to create a platform where all of finance will happen.”
On Crypto Twitter, Hyperliqid has received praise for its airdrop strategy which many crypto companies tend to make a mess out of.
To be eligible for Hyperliquid’s airdrop, investors had to earn points over a 6-month timeline that ended in May 2024. With the Hyperliquid community committed to the vision of the Hyper Foundation, demand for the token has remained high with many early adopters deciding to hold onto their airdropped tokens.
According to Hyperliqid’s documentation, 38.8% of HYPE has been allocated to future community rewards and emissions while 23.8% has been saved for current and future core contributors.
Hyperliquid’s airdrop strategy and blockchain ambitions are proof that building a strong product that crypto users want will always triumph in the long run over profit margins and mass VC investment.
