Hyper Foundation recently announced the genesis event of its native token HYPE, which will take place on November 29 at 07:30 UTC. This milestone marks an important step for Hyperliquid in evolving into a comprehensive financial ecosystem.
Key Points
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The total supply of HYPE tokens is 1 billion.
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38.888% is allocated for future issuance and community rewards.
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31% is allocated for the genesis distribution.
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23.8% is for current and future core contributors.
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6% is for the Hyper Foundation budget.
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0.3% is for community grants.
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0.012% is for HIP-2.
The distribution of HYPE tokens emphasizes Hyperliquid's commitment to community-driven growth. The majority of the tokens (76.2%) are specifically allocated for the community, ensuring broad participation in the network's success. Notably, Hyperliquid has excluded private investors, centralized exchanges, and market makers from its tokenomics, further reinforcing its decentralized ethos.
As a pillar of this ecosystem, HYPE will serve as collateral to secure HyperBFT, further enhancing the trustless and decentralized infrastructure of the blockchain.
Hyperliquid's ecosystem includes a native decentralized exchange (DEX) that seamlessly merges the user-friendly experience of centralized exchanges with the self-custody principles of DeFi.
The HYPE/USDC trading pair will debut on the platform's spot order book, showcasing its advanced financial primitives. HyperEVM, a programmable layer, will use HYPE as its fuel token, enabling developers to build innovative on-chain applications.
The HYPE token genesis event unlocks the fundamental capabilities of Hyperliquid's entire tech stack, positioning the blockchain at the forefront of scalable, trustless finance.
Source
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HyperFND Unveils HYPE Token Genesis, 1B Tokens to be minted, The Crypto Times.