What is Hyperliquid (HYPE)?
HYPE is the native token of the Hyperliquid blockchain, a Layer 1 network developed to support decentralized finance applications. The blockchain offers a fully on-chain perpetuals exchange with an order book system. It is built to handle high transaction throughput with sub-second latency, offering performance similar to centralized platforms while maintaining a decentralized framework.
Hyperliquid enables users to conduct high-frequency transactions and claims to support up to 100,000 orders per second. Its infrastructure is designed to ensure sub-second finality and has processed millions of transactions since its inception.
HYPE is primarily used for staking, which secures the network by requiring validators to lock a minimum of 10,000 HYPE tokens to participate. The staking mechanism includes a one-day lockup before unstaking and a seven-day waiting period for withdrawal, supporting the network’s operational consistency.
The staking reward model is based on Ethereum’s economic principles. It adjusts returns based on the total volume of tokens staked. At 400 million HYPE staked, the network offers an annual return of around 2.37%. Rewards are distributed daily and automatically reinvested to enhance security through continued participation.
In addition to staking, HYPE tokens are used for governance and provide trading fee discounts within the ecosystem. These functions support platform engagement and align with its broader token utility structure.
Hyperliquid Labs is the team behind the project. It was founded by Jeff and iliensinc, who studied together at Harvard, with team members also having academic backgrounds from institutions such as Caltech and MIT.
The total and maximum supply of HYPE is 961.67 million tokens, with a current circulating supply of approximately 302.07 million tokens.
The current price of HYPE is available and updated in real time on Binance.