The post Hyperliquid Announces HYPE Token Launch Ahead HyperEVM Release appeared on BitcoinEthereumNews.com.

The Hyper Foundation has announced that Hyperliquid users will get a native token HYPE in preparation for the upcoming main net launch of the HyperEVM. It would function as the core utility token within the proof-of-stake consensus of HyperBFT and HyperEVM, among other development milestones that can be achieved over time. Hyperliquid HYPE Token Powers HyperEVM The newly-formed Hyper Foundation announced that Hyperliquid users will soon become owners of a new native token, HYPE. The community eagerly waits for the main net release of the HyperEVM. This is one of the foundation’s most crucial milestones. This token will lie at the heart of the proof-of-stake consensus mechanism called HyperBFT. It will also power the HyperEVM and further developments in the ecosystem. The Hyper Foundation has been established to support the growth of the Hyperliquid blockchain and ecosystem. Today, the flagship application on Hyperliquid is the premier decentralised exchange, part of the foundation for a new financial system. Hyperliquid’s order books already… pic.twitter.com/EF6AdfI1Qz — Hyper Foundation (@HyperFND) October 14, 2024 Currently, the distribution channels fall under two headings. One are the users who qualify for eligibility can select the initial distribution for HYPE tokens. Second are users who independently acquire a Hypurr NFT in celebration of the launch. Specific details of the HYPE token airdrop, or “Genesis Event,” will be released later. Lately, daily transaction volumes have surpassed $1 billion, possibly due to a points reward program that is determining the upcoming token distribution. It seems October is a good time for airdrops since recently, it was announced that the Elon Musk-inspired, popular tap-to-earn game, X Empire airdrop and token launch is set for this month’s end.  Over the past months, the exchange has consistently been above $1 billion in daily trading volume, thus firmly cementing its position within the decentralized…

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Filed under: News - @ October 14, 2024 10:24 pm