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HYPE token explained

HYPE is the native token of the Hyperliquid L1. It secures the network through staking, pays for gas on HyperEVM and gives traders fee discounts.

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Genesis and supply

HYPE launched on 29 November 2024 with a maximum supply of 1 billion tokens. About 31% was distributed to early users in the genesis event — one of the largest airdrops in crypto history — with no allocation to private investors.

Staking

HYPE can be delegated to validators to earn staking rewards. Staking also unlocks fee discount tiers on trading.

Assistance Fund

Most trading fees flow to the Assistance Fund, which buys HYPE on the open market, linking protocol revenue directly to the token.

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