Hyperliquid Gears Up for HYPE Token Launch and Mainnet EVM Integration

The Hyper Foundation is gearing up to issue its native token — HYPE. Want to learn more on Hyperliquid? This one's for you.

Background

• The latest announcement comes on the heels of the upcoming launch of HyperEVM on the mainnet
• The newly formed Foundation was created to nurture the growth of the Hyperliquid blockchain and its broader ecosystem
• With the launch of the HyperEVM, any application built on Hyperliquid will have access to "deep liquidity" and other "native financial primitives"

Why should you pay attention?

• Hyperliquid offers trades with instant finality in under a second
• Its daily transaction volume has been surpassing other decentralized derivative platforms of late
• In a single day last week, it registered over $1.39 billion in daily trading volume
• To a fair extent, the rise in activity can be attributed to its points reward campaign
• This, ultimately, will have the final say in the distribution of the Hyperliquid token airdrop

Who said what?

• Via a post on X [formerly Twitter], the team said,

“The next step of Hyperliquid's journey is the native token, HYPE. A native token is essential for the HyperBFT proof-of-stake consensus, the HyperEVM, and further developments on the roadmap”

• They added,

“As part of the genesis distribution, eligible users can choose to receive HYPE and optionally a Hyper NFT to commemorate the upcoming launch of the HyperEVM on mainnet”

Zooming out

• Further details about when the HYPE "Genesis Event," or token airdrop, will be shared eventually
• In other Foundation related news, the Avalanche Foundation recently negotiated an agreement to repurchase all AVAX tokens it previously sold to the Luna Foundation Guard in 2022
• As reported by blocmates, the team is now waiting for approval from the bankruptcy court