Hyperliquid, a brand-new decentralized crypto exchange, has surged to 114.49% in a day, following its token generation event and an exclusive airdrop distribution. Around 310 million (31% of the 1 Billion total supply) tokens worth 1.2 billion dollars were distributed to all the eligible participants.
The airdrop campaign ended in May 2024, after the community participated and collected reward points for around six months. Each point was converted to 5 HYPE tokens, now worth $6.88 per coin. Various users posted in X that they have got around $30,000 and 18,000 via the airdrop.
The unusual situation of decreased sell pressure also makes Hyperliquid’s scenario unique. Normally, we will see a sudden decrease in market cap after the airdrop distribution, but here, it has doubled. Let’s get into the full details of Hyperliquid’s case. Also, we will check if it is too late to get into HYPE. Let’s begin.
What is Hyperliquid?
Hyperliquid is a decentralized perpetual exchange that has its own L1, which aids the entire permissionless ecosystem. The robust scalability allows around 100,000 orders per second. As a self-funded platform without any external capital investments, the community has the freedom to build a network without any pressures. This is evident in its planning and execution of the airdrop campaign.
What’s the Hype Behind Hyperliquid Airdrop?
Hyperliquid’s scenario is so unique in multiple terms. Usually, the airdrop allocation will be 5 or 10%, which too distributed through multiple campaigns. Here we see around 31% unlocked supply worth 1.2 billion dollars distributed across the community as a single airdrop. The trivia that the capital is not backed by any external venture capitalists or firms also makes this case interesting.
HYPE Tokenomics
Beyond the 31% allocation for airdrop, around 38.8% (388 million tokens) is allocated for future releases and community rewards. Also, 23.8% (238 million) is reserved for current and future contributors. The foundation has allocated around 6.0% (60 million) as its operational budget. Interestingly, there is no token allocation for private investors. It assures that the platform is free from large whales that can manipulate its market. Here are some more HYPE details:
| Token Ticker | $HYPE |
| Market Cap | $2.30 Billion |
| Fully Diluted Cap | $7.23 Billion |
| Total Supply | 1 Billion HYPE |
| Circulating Supply | 333.93 Million HYPE |
How to Buy & Sell HYPE Tokens?
If you missed the airdrop, and still want to purchase the HYPE tokens, two better ways are to visit the official website or contact the hodlers directly. Many who received the airdrop have revealed their identities through social media platforms like X (Twitter). Otherwise, you can purchase it through the CoinW exchange. However, whether there is proper liquidity in CoinW is not verified.
If you have HYPE balance and want to sell, you can directly swap it through the Hyperliquid exchange. Or you can connect to any DEX and become a liquidity provider for those who are in need of the token. However, it is better to HODL the token as future uptrends are expected.
Can’t Claim HYPE Airdrop? Here Is The Solution
Hyperliquid airdrop is 100% claimable. If you have participated in the airdrop and still have not received the drop, please contact the devs of the platform. But, if you got the airdrop, but are unable to sell, follow the below steps:
- Actually, there is no need to claim the airdrop. If you are eligible, the tokens will be present in your Hyperliquid portfolio. Visit the portfolio to see your allocation.
- To see the balance through the trading interface, choose any HYPE-based pairs such as HYPE/USDC. Scroll down to the bottom to see the “Balances” option. Your HYPE balance will be visible there.