Hyperliquid Announces HYPE Token Genesis Event Set For November 29
In Brief
Hyperliquid has unveiled the details of HYPE token genesis event, a key step that will unlock the platform’s core functionality at every level of its structure.
Perpetual contract trading platform Hyperliquid unveiled the details of its upcoming HYPE token genesis event, a step that will unlock the platform’s core functionality across all levels of its structure.
The HYPE genesis event is scheduled for 07:30 UTC on November 29th. The maximum supply of HYPE tokens is capped at 1 billion. According to the platform, 38.888% of the total supply will be reserved for future emissions and community rewards, 31.0% for the genesis distribution, 23.8% for current and future core contributors, 6.0% for the Hyper Foundation budget, 0.3% for community grants, and 0.012% for HIP-2.
The token distribution will take place over time, with 76.2% allocated to the community. For the genesis event, 310 million HYPE tokens will be made available to eligible participants, and these tokens will be fully unlocked. Any undistributed tokens will be reallocated to future emissions and community rewards. The Hyper Foundation budget will receive 60 million HYPE, while 3 million HYPE will be dedicated to grants, and 120,000 HYPE will be allocated to Hyperliquidity (HIP-2). A total of 388.88 million HYPE tokens will remain unminted, set aside for future emissions and community incentives.
Tokens assigned to core contributors will be locked for one year after the genesis event, with vesting schedules completing between 2027 and 2028. In some cases, vesting will extend beyond 2028. The genesis distribution is specifically excluded from core contributors. No tokens are allocated to private investors, centralized exchanges, or market makers.
Hyperliquid: What Is It?
Hyperliquid has developed into one of the largest decentralized exchanges in terms of trading volume, open interest, and active users. Its liquidity now competes with that of leading centralized exchanges. The platform combines the smooth trading experience typically found on centralized exchanges with the self-custodial principles of fully decentralized, on-chain exchanges.
The platform embodies the core values of cryptocurrency and decentralized finance, offering the technical innovations required to bring all aspects of finance on-chain without compromising on performance or security.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
