Hyperliquid’s $7.5B airdrop marks shift from centralized token listings
The Hyperliquid (HYPE) token launch represents a significant shift towards decentralized fair launch cryptocurrencies, excluding venture capital firms and early investors. The launch, described by Composability Labs' CEO Vitali Dervoed as a "new era," occurred on its own layer-1 protocol without centralized exchange involvement. In contrast, over 80% of tokens launched on Binance have lost value within six months. The HYPE token experienced a remarkable 600% price increase since its launch on November 29, 2023, reaching $22.67 by January 15, 2024. The airdrop's total value surpassed $7.5 billion. Of the $1 billion HYPE tokens, 31% were distributed at launch, with future emissions and community rewards allocated 38.8%. Hyperliquid operates on a proof-of-stake mechanism, capable of processing 200,000 transactions per second, with the HYPE token serving as both a staking asset and gas token for its ecosystem.
