Launching Hyperliquid’s (HYPE) token in a decentralized manner could mark the beginning of a “novel phase” for cryptocurrencies with fair launches on the blockchain, potentially improving upon previous token launches that took place on centralized platforms and left some users feeling let down.
Following the historic distribution of one of the most significant airdrops in cryptocurrency, the Hyperliquid token garnered attention due to its method of distribution that was independent from venture capital firms and initial investors, instead focusing on decentralization.
Launching the Hyper token signifies the start of a fresh chapter in the world of fair launch tokens, as stated by Vitali Dervoed, co-founder and CEO of Composability Labs.
During an exclusive interview with CryptoMoon at the Emergence Prague 2024 event, he said:
“The HYPE token launch marks the beginning of the new era between centralized exchange (CEX) listings and onchain […] Because HYPE was launched by the protocol on its order book on its own layer-1.”
According to Dervoed, while the token wasn’t released on a centralized platform, it was still successfully launched and reasonably priced by the cryptocurrency community.
Composability Labs’ Vitali Dervoed, interview with CryptoMoon’s Zoltan Vardai
Unlike the Hyperliquid token launch where it’s distributed openly, most other cryptocurrencies are initially issued through centralized exchanges, with a portion reserved for venture capital firms and early investors.
By May 2024, it’s estimated that more than 80% of cryptocurrencies listed on Binance experienced a decline in value within the initial six months following their launch.
In 2024, the majority of memecoins listed on Binance experienced a prosperous year. Specifically, 12 out of 15 memecoins that were launched on Binance saw substantial price growth following their launch, as per CryptoMoon’s report dated Nov. 11.
Hyperliquid token soars 600% since launch as airdrop surpasses $7.5 billion
After significant price increases, the Hyperliquid token airdrop was recorded as the highest-valued airdrop in cryptocurrency history.
As of 2:02 PM UTC on January 15th, the HYPE token was being traded at $22.67. Since its launch on November 29th, the token has experienced a staggering increase of over 600%. This information is based on data from CoinMarketCap.
After a massive 600% increase in its price, the total worth of the Hyperliquid airdrop surpassed $7.5 billion, according to CryptoMoon’s report, as of January 8th.
As per the established protocol, it distributed approximately one-third (31%) of its $1 billion HYPE tokens during the genesis event. The remaining 62.8% will be reserved for future emissions and community incentives, while 6% are earmarked for the Hyper Foundation’s treasury, with a small fraction (0.3%) set aside for grants.
As a crypto enthusiast, I’ve come across an exciting blockchain called Hyperliquid. This layer-1 platform operates on a proof-of-stake consensus mechanism and boasts the capability to handle up to 200,000 transactions per second! The HYPE token plays a pivotal role within this ecosystem. It serves as both the asset for validating transactions through staking and as the fuel for Hyperliquid’s Ethereum Virtual Machine-compatible layer, HyperEVM.
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2025-01-15 17:39