HyperLiquid, a decentralized exchange (DEX), is set to launch its native token, HYPE, on November 29, 2024, at 07:30 UTC. 

The token launch is part of the platform’s Genesis event. For starters, HYPE will serve as the gas token for HyperEVM, the platform's execution environment. Additionally, it will facilitate trading on HyperLiquid's decentralized exchange, where users can trade HYPE against USDC. 

The event is also set to feature an airdrop, rewarding early adopters who participated in HyperLiquid's campaign.

HYPE Token Distribution: How Will It Be Allocated?

The total supply of HYPE will be capped at 1 billion tokens. Here’s how they will be distributed:

• 31% for Genesis Distribution (310 million tokens): These tokens will be airdropped to users who participated in HyperLiquid's points campaign. This airdrop will be fully unlocked at the time of the genesis event.

   

• 38.88% for Future Emissions & Community Rewards (388.88 million tokens): These tokens will be released over time as part of HyperLiquid’s reward system, promoting further growth and user engagement.

   

• 23.8% for Core Contributors (238 million tokens): These tokens will be allocated to current and future contributors, with a one-year lock-up period.

   

• 6% for the Hyper Foundation Budget (60 million tokens): These tokens will be used to support the operational budget of HyperLiquid, ensuring the project's continued development.

   

• 0.3% for Community Grants (3 million tokens): A portion of the tokens will be allocated to grants for community-driven projects.

   

• 0.012% for HIP-2 (120,000 tokens): These tokens will be allocated to the Hyperliquidity protocol.

   

• No tokens will be allocated to private investors, centralized exchanges, or market makers.

HyperLiquid’s Roadmap

The HYPE token is designed to play a central role in HyperLiquid's decentralized exchange ecosystem. It will act as a tradable asset, used for staking and securing the HyperBFT consensus mechanism, which is integral to the platform’s decentralized nature. 

The HyperBFT consensus algorithm, an optimized proof-of-stake model, reportedly allows for high throughput and near-instant finality, making HyperLiquid a scalable option for decentralized finance (DeFi).

The HYPE token will also serve as the native fuel for HyperEVM, the platform’s execution environment. HyperEVM allows developers to build decentralized applications (dApps) directly on the HyperLiquid network.