Key Points
Hyperliquid, a decentralized exchange, is set to launch its native token, HYPE. This launch is part of the imminent HyperEVM mainnet debut. The Hyper Foundation, a newly formed entity to bolster the Hyperliquid ecosystem, has confirmed this development.
The Genesis Event allows eligible users to claim HYPE and a commemorative Hypurr non-fungible token. However, they must accept the terms before November 11 to participate.
Hyperliquid offers deep liquidity for various assets. The term liquidity refers to the ease of trading assets without causing price fluctuations.
The Role of Hyper Foundation and HyperEVM
The Hyper Foundation has a significant role in the Hyperliquid ecosystem. It is responsible for building a decentralized financial infrastructure. This includes developing Hyperliquid’s blockchain and applications.
The HyperEVM is a blockchain compatible with Ethereum (ETH). It allows any application built on Hyperliquid to leverage this liquidity and financial tools. This makes decentralized finance more accessible.
HYPE’s launch is critical to the network’s proof-of-stake consensus mechanism. This mechanism requires users to hold tokens to validate transactions and secure the network.