Hyperliquid Unveils HYPE Token and HyperEVM Mainnet Launch

The Hyper Foundation has unveiled its strategy for the genesis distribution of its native token, HYPE, marking a significant step toward implementing proof-of-stake consensus and integrating the Ethereum Virtual Machine (EVM) into the Hyperliquid Layer-1 blockchain.

As the largest decentralized order book-based perpetual trading platform by volume, Hyperliquid has already surpassed $1 billion in daily trading volume across 145 pairs. With more than 200,000 active users, the platform continues to establish itself as a dominant force in the DeFi space.

The foundation sees the HyperEVM as a gateway for users to access deeper liquidity pools and an expanded array of financial instruments. In addition to its EVM integration, HYPE is a critical component of HyperBFT, the platform's proof-of-stake consensus, laying the foundation for the platform’s future innovations.

Hyperliquid's roadmap is a bold one, transitioning from spot trading to permissionless liquidity, underscoring the platform's innovative spirit. In September 2023, Hyperliquid made waves by facilitating the first perpetual trade for LayerZero's ZRO token, and it continues to expand its trading options with a clear focus on innovation.

Given the crypto community’s enthusiasm around the HYPE token, the Hyper Foundation is inviting participants to join the Genesis distribution before November 11. The official airdrop date will be announced on November 29, keeping the community on its toes.

To commemorate the HyperEVM mainnet launch, the foundation is also offering users a special Hypurr NFT. While these NFTs are not for commercial gain, they serve as a digital token of remembrance for this pivotal moment in Hyperliquid's evolution.

Source: https://coinmarketcap.com/academy/article/hyperliquid-announces-hype-token-launch-evm-mainnet-rollout?utm_source=chatgpt.com