Hyper Foundation Prepares to Launch HYPE Token for Enhanced Blockchain Services
The Hyper Foundation is gearing up to launch its native token, HYPE, which is essential for establishing proof-of-stake consensus on the Hyperliquid blockchain and introducing an Ethereum Virtual Machine (EVM) to its mainnet.
Hyperliquid’s flagship product, a decentralized perpetual trading platform, leads the market with over $1 billion in daily trading volume and more than 200,000 users. The upcoming HyperEVM will enhance access to liquidity and trading tools.
The foundation stated that the new token is crucial for developing the HyperBFT proof-of-stake consensus and advancing its roadmap, which includes initiatives like spot trading and permissionless liquidity. Notably, LayerZero’s ZRO was the first perpetual trade on Hyperliquid in September 2023.
With a promise of trades finalizing in under a second, Hyperliquid also recently introduced builder codes, enabling developers to monetize their applications.
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Founded by Jeff Yan, previously associated with Chameleon Trading, Hyperliquid seeks to combine the benefits of centralization with transparency. Participants can register for the initial token distribution until November 11, with the airdrop date to be revealed on November 29. Additionally, users may opt for a commemorative Hypurr non-fungible token (NFT) to celebrate the HyperEVM launch.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
