“The developers of the Hyperliquid decentralized exchange announced the launch of the HYPE native token stakebook mechanism on the mainnet. Staking is now live on mainnet. Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network. Like other proof of stake networks, new blocks on Hyperliquid are proposed by validators […]”, — write: businessua.com.ua
The developers of the Hyperliquid decentralized exchange announced the launch of the HYPE native token stakebook mechanism on the mainnet.
Staking is now live on mainnet.
Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network. Like other proof of stake networks, new blocks on Hyperliquid are proposed by validators in proportion to… pic.twitter.com/J8uECmHGwK
— Hyper Foundation (@HyperFND) December 30, 2024
“Like other Proof-of-Stake networks, new blocks in Hyperliquid are offered by validators in proportion to the amount of HYPE delegated to them. Staking is a serious liability for the Hyperliquid community,” the team said in a statement.
According to the platform, more than 330 million HYPEs (more than $9 billion at current prices) are staking on the Hyperliquid mainnet.
Locked coins are available for staking, however rewards generated for such tokens will also be locked.
The developers will later implement a delegation program to “support the most productive validators and advance the decentralization of the network.”
At the time of writing, HYPE is trading at $27.5. Since its launch on November 29, the price of the token has increased almost sevenfold. During the first five days of trading, the price of the token tripled.
KuCoin HYPE/USDT hourly chart. Source: TradingView.
According to DeFi Llama, the project ranks ninth in the rating for TVL with an indicator of $2.35 billion.
Hyperliquid’s token launch airdrop was one of the largest in the history of the industry. The team distributed about 31% of the entire supply to community members. At the peak of the HYPE price, these tokens were valued at $10.8 billion.
It will be recalled that in December, X users suspected North Korean hackers of preparing to hack Hyperliquid.
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