- The Hyper Foundation declared that in advance of the mainnet launch of HyperEVM, it will be issuing HYPE, a native token.
- There was no indication of the airdrop date.
According to a post on X, the recently established Hyper Foundation declared on Monday that it will be launching a native token, named HYPE, in advance of the impending HyperEVM mainnet debut.
The native token, HYPE, represents the next phase in Hyperliquid’s development. The foundation stated in its statement that a native coin is necessary for the HyperBFT proof-of-stake consensus, the HyperEVM, and future roadmap enhancements. To celebrate the impending mainnet launch of the HyperEVM, qualified users can opt to receive a Hypurr NFT in addition to HYPE as part of the Genesis distribution.
According to Hyper Foundation, specific dates for the HYPE Genesis Event, or token airdrop, will be announced later.
Recent months have seen an average daily transaction volume of over $1 billion on Hyperliquid, surpassing that of other decentralized derivative marketplaces. Its points-reward program, which will decide how the impending Hyperliquid token airdrop is distributed, might have been the catalyst for the heightened engagement.
How does Hyperliquid work?
By combining liquidity from multiple sources, Hyperliquid is a decentralized platform that enables users to trade perpetual derivatives. Additionally, it enables users to trade cryptocurrencies with leverage, which enables them to borrow money to expand their purchasing power. With native meme tokens like Purr, Points, and so on, it functions as a Layer 1 app chain.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
