The Hyper Foundation completed the genesis distribution of the HYPE token, the native token of the Hyperliquid Network—a high-speed blockchain built for decentralized finance (DeFi)—airdropping more than $1.6 billion worth of tokens to users based on the peak price of $5.40 since the overnight launch.
Hyperliquid users received 31%, or 310 million of the total 1 billion HYPE supply as part of the genesis distribution, with another 38.88% set aside for future emissions and community rewards. Notably, no tokens were set aside for “private investors, centralized exchanges, or market makers.”
The $1.5 billion worth of tokens airdropped to community members ranks the HYPE airdrop as the seventh-largest in crypto history, ahead of airdrops like Bonk (BONK) and Optimism (OP). Some users claimed that they received sizable allotments as part of the massive drop.
“Wow, woke up to a mid-6-figure airdrop today for $HYPE. Largest airdrop of my life,” claimed crypto trader and personality PonziTrader on X (formerly known as Twitter).
Hyperliquid’s Perp decentralized exchange (DEX) is the flagship product on its Hyperliquid blockchain, which is billed as a “performant, modern” layer-1 network. The exchange has facilitated more than $334 billion in total volume since March 2024 and ranks #7 in 24 hour DEX volume according to CoinGecko.
The price of HYPE is up 38% since launch, trading at $5.40 with a $1.74 billion market cap, ranking the token #73 overall in market cap according to CoinGecko.
Edited by Andrew Hayward
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