- Hyperliquid announced the launch of the HYPE token on October 14.
- The token generation event for the native token of the decentralized trading platform will take place ahead of HyperEVM going live.
Hyperliquid, a decentralized exchange that aggregates liquidity across the ecosystem to offer perpetual derivatives trading, has announced the launch of its native token, HYPE.
The platform — which enables users to access leveraged trading of cryptocurrencies — revealed it will conduct an airdrop on October 14, 2024.
When is the Hyperliquid (HYPE) airdrop?
This announcement follows the establishment of the Hyperliquid Foundation, an organization created to support the network’s development. In addition to the DEX platform, the Foundation will help drive growth across the Hyperliquid ecosystem.
In a post on X, the Hyperliquid Foundation stated that HYPE will launch prior to the HyperEVM mainnet.
“Hyperliquid’s order books already provide the deepest and most resilient on-chain liquidity across a wide range of assets.
With the launch of HyperEVM, all applications built on Hyperliquid will also gain access to this deep liquidity and other native financial primitives,” the Foundation wrote.
The Hyper Foundation has been established to support the growth of the Hyperliquid blockchain and ecosystem. Today, the flagship application on Hyperliquid is the premier decentralised exchange, part of the foundation for a new financial system. Hyperliquid’s order books already… pic.twitter.com/EF6AdfI1Qz
— Hyper Foundation (@HyperFND) October 14, 2024
HyperEVM will be accompanied by HYPE as a core element of the project’s network mechanics, operating through HyperBFT, a proof-of-stake (PoS) consensus mechanism. Regarding the HYPE airdrop, the Hyperliquid Foundation noted:
“As part of the genesis distribution, eligible users will be able to claim HYPE and, optionally, a Hypurr NFT to commemorate the upcoming HyperEVM mainnet launch.” The team said more details about the airdrop will be announced at a later date.