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Crypto Exchange HyperLiquid to Airdrop 310M Tokens to Early Adopters
Airdrop hunters will receive 31% of HYPE’s total supply after a points campaign that ran earlier this year.
What to know:
- 31% of the total supply will be airdropped to users who earned points on HyperLiquid. A further 23.8% has been set aside for current and future core contributors.
- HYPE will be the staked asset securing HyperBFT, the consensus algorithm that powers the platform.
- It will also be used for gas fees and in the generation of DeFi applications built on the network.
As a seasoned crypto investor with a decade of experience under my belt, I find the announcement of HyperLiquid’s HYPE token airdrop to early adopters quite intriguing. Having witnessed the evolution of the DeFi sector and its increasing reliance on points campaigns to incentivize platform use, it’s refreshing to see this trend reaching maturity.
On Friday, HyperLiquid’s decentralized platform is set to distribute its native token, HYPE, as a reward for early supporters.
As a researcher, I’m sharing some details about our token distribution plan. Approximately 1 billion tokens will be minted. Out of these, roughly 31% will be allocated to users who successfully accumulated points during our campaign concluded in May. Additionally, we have earmarked 23.8% for our current and prospective key contributors. The portion designated for future contributors will be locked away for a period of one year.
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Over the last day, HyperLiquid boasts over 220,000 active users and has achieved a staggering trading volume of approximately $2.4 billion.
As a crypto investor, I’ve noticed an uptick this year in points campaigns within the Decentralized Finance (DeFi) realm. These campaigns encourage platform usage, offering potential token airdrops as rewards. In fact, they’ve led to the emergence of a new breed of investors known as ‘airdrop farmers.’ We, the farmers, strategically move our liquidity between projects to qualify for multiple airdrops.
Instead of functioning only as a governance token like many others, HYPE offers multiple roles, such as staking options and a means to pay for gas fees. By staking HYPE, users help secure HyperBFT, the proof-of-stake consensus algorithm that underpins the HyperLiquid platform.
On November 29th at 07:30 UTC, the token creation event will occur, and we will add a market for HYPE/USDC to our spot trading platform, HyperLiquid.
Oliver Knight
In April 2022, Oliver Knight became a news reporter for CoinDesk, transitioning from his role as Chief Reporter at Coin Rivet, where he worked for three years. Prior to this, he earned a journalism degree from Birmingham City University and had experience working in sports publications. His entry into the realm of Bitcoin occurred in 2014, marking the beginning of his journey in this field. It’s worth noting that Knight does not hold any cryptocurrencies.
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2024-11-28 12:01