The Hyper Foundation Launches HYPE as a Native Token to Secure Network and Further Functionality of Ecosystem
- Linda HamiltonOriginal
- 2024-10-15 21:28:15765browse
The Hyperliquid ecosystem turns HYPE into a staking token for HyperBFT and a financial tool for dApps on HyperEVM.
Hyper Foundation recently launched Hype, a native token that is set to play a crucial role in the Hyperliquid blockchain ecosystem. Backed by HyperBFT’s PoS consensus, the token will secure the network and enable financial operations on the upcoming HyperEVM.
During Genesis Event, eligible users can claim HYPE and opt to receive a Hypurr NFT by November 11, 2024.
Integating HYPE Token into Ecosystem
Within the Hyperliquid ecosystem, HYPE functions as both a staking token for HyperBFT and a financial tool for dApps on HyperEVM.
With HyperEVM set to launch soon, any dApp deployed on the network will instantly gain access to Hyperliquid’s vast liquidity and advanced trading infrastructure.
Furthermore, it will also encourage stakeholders to participate in network governance and stack to ensure the network’s security and scalability.
It is noteworthy that Hyperliquid’s DEX has already established itself as a primary platform for trading derivatives, facilitating some of the deepest onchain liquidity across several assets.
Distributing Tokens via Genesis Event, Airdrop
The distribution of HYPE tokens will commence from HyperEVM’s Genesis Event, where eligible users can start claiming their tokens.
This airdrop is linked to Hyper Foundation’s recent points-based rewards campaign, which encouraged users to engage on the Hyperliquid platform by participating in draws, adding liquidity, and staking.
Participants who earned points from the campaign will be eligible for the airdrop, further incentivizing early engagement with ecosystem members.
Those claiming HYPE will also be able to mint a limited edition Hypurr NFT to commemorate the HyperEVM’s mainnet launch.
Engagement Surges with HYPE Token Ahead of HyperEVM Mainnet
Hyperliquid’s announcement comes amidst surging activity, with its rewards campaign and the HYPE token generating significant buzz.
Daily transaction volumes on the DEX have already surpassed $1 billion, outpacing other decentralized trading platforms.
As Hyperliquid evolves from a DEX into a full blockchain ecosystem, HYPE will be central to 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 continue to foster Hyperliquid’s ecosystem by rewarding early adopters and utilizing PoS consensus to secure the network.
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