Hyperliquid announces native token HYPE ahead of mainnet launch

Hyperliquid introduced its native token, HYPE, as part of the upcoming HyperEVM mainnet launch.

Eligible users can claim HYPE and the commemorative Hypurr non-fungible token during the Genesis Event by accepting the terms before November 11. The Hyper Foundation, which was recently established to support the Hyperliquid ecosystem, confirmed this development.

Hyperliquid is a decentralized exchange that offers deep liquidity for a variety of assets. Liquidity refers to how easily assets can be bought and sold without affecting prices.

Hyper Foundation was established to support the growth of the Hyperliquid blockchain and ecosystem. Today, Hyperliquid’s flagship application is the leading decentralized exchange, part of the foundation of a new financial system. Hyperliquid’s order books are already… pic.twitter.com/EF6AdfI1Qz

— Hyper Foundation (@HyperFND) 14 October 2024

Founded to support the growth of the Hyperliquid ecosystem, the Hyper Foundation focuses on building a decentralized financial infrastructure, including the development of Hyperliquid’s blockchain and applications.

HyperEVM, an Ethereum (ETH) compatible blockchain, will allow any application built on Hyperliquid to benefit from these liquidity and financial tools, making decentralized finance more accessible.

The launch of HYPE is also crucial for the network’s proof-of-stake consensus mechanism, which requires users to hold tokens to verify transactions and secure the network.