HYPE Genesis

HYPE is the native token of the Hyperliquid blockchain.

Hyperliquid has grown to include the largest decentralised exchange by volume, open interest, and active users. Liquidity rivals the top centralised exchanges. The user experience bridges the seamless trading on CEXs with the self-custodial ideals of a fully onchain DEX. Hyperliquid represents the ethos of crypto and decentralised finance, with the technical innovations needed to bring all finance onchain without sacrifices.

While Hyperliquid has come a long way, there is much further to go. Over the past year, the scope of Hyperliquid has expanded from a DEX to a full financial system.

1. At its base, Hyperliquid is a performant, modern L1. Powered by HyperBFT, a highly optimised proof of stake consensus algorithm, disparate nodes can achieve consensus at 200k transactions per second with ~0.2 second time to finality. As the native token, HYPE will be the staked asset securing HyperBFT.
2. The perpetuals and spot DEX are examples of native components built into Hyperliquid. These components are optimised high-throughput financial primitives with which users and smart contracts can interact. For example, HYPE/USDC will be traded on the native spot order book.
3. The HyperEVM will bring full programmability to native components and general-purpose onchain state alike. HYPE will be the gas token of the HyperEVM.
4. The community includes an ever-growing set of passionate and talented builders. Hyperliquid will serve as the infrastructure layer for the next generation of trustless and performant finance built by the community. Unlike other chains, Hyperliquid features onchain monetization for user applications that is built directly into the protocol. As the native asset of the protocol, HYPE will be a crucial building block for defi applications.

The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack.

Token Distribution

The genesis event for HYPE will occur at 07:30 UTC on November 29. The max supply of HYPE is 1,000,000,000 tokens, with the following distribution:

• 38.888% to future emissions and community rewards
• 31.0% to the genesis distribution
• 23.8% to current and future core contributors
• 6.0% to the Hyper Foundation budget
• 0.3% to community grants
• 0.012% to HIP-2

Tokens will be emitted over time, with 76.2% going to the community. 310,000,000 tokens are allocated for eligible participants in the genesis event. These tokens will be fully unlocked. Undistributed tokens will be moved to future emissions and community rewards. 60,000,000 HYPE are allocated to the Hyper Foundation budget, 3,000,000 HYPE to grants, and 120,000 HYPE to Hyperliquidity (HIP-2). 388,880,000 unminted HYPE are reserved for future emissions and community rewards.

Core contributor tokens will be locked for 1 year after genesis. Most vesting schedules will complete between 2027–2028; some will continue after 2028. The genesis distribution strictly excludes core contributors.

There are no allocations for private investors, centralised exchanges, or market makers.