Hyper Foundation Unveils New Token Ahead of Mainnet Launch

Hyper Foundation Unveils New Token Ahead of Mainnet Launch

Hyper Foundation is gearing up for a major milestone, announcing that Hyperliquid users will soon receive the native token HYPE, in anticipation of the launch of the HyperEVM mainnet.

This token will play a pivotal role in the platform, serving as a utility within its HyperBFT proof-of-stake system, while also supporting the upcoming HyperEVM network and its future upgrades.

Recently, the platform recorded daily trading volumes exceeding $1 billion, signaling strong interest in its features. Hyperliquid enables decentralized trading of perpetual derivatives and leveraged cryptocurrencies, facilitated by its proprietary trading engine, which ensures swift order execution—ideal for active traders. Unlike traditional exchanges, users retain control over their assets through self-custody.

Perpetual swaps, a type of derivative contract without an expiration date, are central to Hyperliquid’s offerings, reflecting the broader shift toward decentralized finance (DeFi). Despite the high trading volume, profits do not flow to the team—instead, the fees benefit the community by going into a liquidity pool and insurance fund.

Operating as a Layer 1 blockchain, Hyperliquid draws liquidity from multiple sources to offer competitive trading conditions. The platform’s ecosystem also includes tokens like Purr and Points, which serve various roles in rewarding users and powering its financial system.

The distribution of the HYPE token will be available in two main ways: users can participate in the initial token allocation if eligible, or acquire a Hypurr NFT, released in conjunction with the token launch. More details on the token’s distribution, known as the “Genesis Event”, are expected soon.