Key Takeaways:
- Hyperliquid launched native staking on its mainnet, allowing HYPE token holders to earn rewards by choosing from 16 validators.
- Over $344M worth of HYPE tokens, valued at $9B, have been staked since the launch, amid strong trading activity.
- A recent HYPE token airdrop and rising decentralized exchange volumes highlight Hyperliquid’s growth in DeFi.
Hyperliquid, a decentralized finance (DeFi) protocol, has launched native staking on its mainnet, enabling users to earn rewards while enhancing network security.
Starting December 30, HYPE token holders can stake tokens with one of 16 validators, selected based on factors like uptime, commission, and reputation.
Staking is now live on mainnet.
— Hyper Foundation (@HyperFND) December 30, 2024
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
This move follows Hyperliquid’s success as a decentralized trading platform, which recorded over $12 billion in trading volume and $8.6 million in revenue in December, according to DefiLlama.
Staking allows users to lock tokens in support of blockchain operations, earning rewards in return.
As of December 30, $344 million worth of HYPE tokens have been staked, representing a network value of over $9 billion, based on ASXN data.
Hyperliquid’s recent airdrop of 310 million HYPE tokens, equivalent to 31% of its supply, significantly boosted token value from $3.90 on November 29 to $26.80 by December 30.
The protocol has allocated 38.8% of its tokens for future community rewards, 6% for its treasury, 0.3% for grants, and 23.8% for core contributors, with a one-year lock on the latter.
Hyperliquid’s launch reflects the broader growth of decentralized exchanges, which collectively hit $462 billion in trading volume in December amid optimism about a favorable U.S. regulatory environment by 2025.
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