Hyper Foundation announced that it will distribute HYPE, its native token, to Hyperliquid users in preparation for the mainnet launch of HyperEVM. This step is among the important developments in the Hyperliquid ecosystem and creates great excitement among users.
HYPE Token
The newly created HYPE token will be at the center of HyperBFT and HyperEVM’s proof-of-stake consensus mechanism. This token will also be used at various stages of development in the ecosystem.
HYPE token distribution will be carried out under two main headings. First, eligible users will be able to choose HYPE tokens. Secondly, users will be able to independently obtain Hypurr NFT to celebrate the launch.
Recently, daily trading volume exceeded $1 billion, which strengthened Hyperliquid’s place in the decentralized derivatives market. The platform offers fast transaction processing thanks to its low-latency trading engine.
Private swaps allow users to hold their positions indefinitely by providing adequate collateral. This feature attracts great attention in the DeFi field and is preferred on platforms such as Hyperliquid.
Community-Focused Fee Distribution
The platform directs incoming fees to the Hyperliquid Pool and insurance fund, allowing the ecosystem to benefit from trading activities. This approach creates a decentralized structure by prioritizing the interests of users.
Hyperliquid stands out as a decentralized platform that enables the trading of perpetual derivatives by leveraging multiple liquidity sources. The platform offers various advantages to its users with local tokens and reward system, and the steps taken in terms of token benefit can foster long-term excitement.
“The Hyper Foundation was established to support the growth of the Hyperliquid blockchain and ecosystem.” – Hyper Foundation
Developments and Future Plans
Details regarding the distribution of the HYPE token will be announced later. At the same time, as the daily transaction volume of the platform continues to increase, the ecosystem is expected to strengthen with community-oriented projects.
Hyperliquid’s Layer 1 platform strengthens its position in the industry by offering users better opportunities and deeper liquidity in derivatives trading. The platform allows users to increase their trading power with leveraged trading support. The fast and secure trading infrastructure offered by Hyperliquid provides an ideal environment for high-volume traders. Users can have full control over their assets through their crypto wallets. Considering the increasing interest in platforms such as DYDX and GMX, especially after the FTX collapse, serious permanent demand may be seen here in the long term.
Economics of the Platform
Hyperliquid supports the platform economy through native tokens such as Purr and Points. These tokens play an important role in different functions and reward systems on the platform. The protocol aims to take an important place in the future of decentralized derivative transactions with the advantages and reliable infrastructure it offers to its users.
Hyper Foundation’s HYPE token launch looks set to contribute to the growth of the Hyperliquid ecosystem and create new opportunities among users. The platform’s community-driven approach and innovative features will be beneficial for its growth in decentralized finance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
