- Hyperliquid announced the launch of the HYPE token on October 14.
- The token minting event for the decentralized exchange’s native token will occur before the launch of HyperEVM.
Hyperliquid, a decentralized exchange that offers perpetual derivatives trading by aggregating liquidity across the ecosystem, has announced the launch of its native token, HYPE.
The platform, which allows users to access leveraged cryptocurrency trading, revealed an upcoming airdrop scheduled for October 14, 2024.
When is the Hyperliquid (HYPE) airdrop?
The announcement coincided with the formation of the Hyperliquid Foundation, an entity created to support the network’s development.
In addition to backing the DEX, the Hyperliquid Foundation will promote ecosystem growth and development.
The Foundation noted that HYPE will be launched prior to the HyperEVM mainnet in a post on X.
“Hyperliquid’s order books already provide the deepest and strongest on-chain liquidity across a broad spectrum of assets. With the launch of HyperEVM, any application built on Hyperliquid will also have 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
In addition to powering HyperEVM applications, HYPE will play a key role in the project’s network mechanisms via HyperBFT, a proof-of-stake (PoS) consensus mechanism.
Regarding the airdrop distribution, the Hyperliquid Foundation said:
“As part of the genesis distribution, eligible users may choose to receive HYPE and optionally a Hypurr NFT to commemorate the upcoming HyperEVM mainnet launch.”
The team said it will share additional details about the airdrop at a later date.