Will HYPE Price Skyrocket As Staking Launches on HyperLiquid Mainnet?
The post Will HYPE Price Skyrocket As Staking Launches on HyperLiquid Mainnet? appeared on BitcoinEthereumNews.com.
The launch of HYPE token staking on HyperLiquid’s mainnet marks a major development for the network and its users. This new feature allows holders to stake their tokens with validators, earning rewards while contributing to the security and decentralization of the platform prompting a HYPE token price rally projection. HYPE Staking Goes Live on HyperLiquid HYPE token staking is now available on HyperLiquid’s decentralized exchange, the Hyper Foundation announced. The foundation also stressed the importance of staking for the security of the network and attracting more people to the project. Despite the announcement, the HYPE token price has not seen a major reaction with the price down 2% as of press time. ”With staking, the various users in the HYPE staking community can collectively secure the network,” the Hyper Foundation said in a post that was shared on X. Staking allows users to transfer their tokens to trusted validators so that the users can receive more tokens depending on the performance of the validators. The validators take an active part in proposing new blocks for the network based on the amount of staked HYPE token. The foundation also recommended checking validator metrics such as uptime and time online, reputation and reviews, commission rates, and contributions to the community. Staking is now live on mainnet. Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network. Like other proof of stake networks, new blocks on Hyperliquid are proposed by validators in proportion to… pic.twitter.com/J8uECmHGwK — Hyper Foundation (@HyperFND) December 30, 2024 More than 320 million HYPE tokens have been staked across many validators as of now. In the HyperLiquid platform, the rewards are only given to the validators who have successfully participated in consensus, which is why it is crucial to…
Filed under: News - @ December 30, 2024 10:21 pm