Hyperliquid Labs is about to conduct its first HYPE distribution, with 1.2 million tokens already unstaking.
TL;DR
Hyperliquid Labs is distributing 1.2 million HYPE tokens worth $31.2 million to team members on January 6, marking its first token distribution. HYPE launched in November 2024, with 23.8% of its 1 billion total supply reserved for core contributors and over 61% of tokens still locked.
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According to Odaily Odaily, Hyperliquid Labs is about to conduct its first round of HYPE token distribution. Approximately 1.2 million HYPE tokens (worth about $31.2 million) have been unstaking and will be distributed to team members on January 6.
HYPE officially launched via community airdrop in November 2024. Approximately 23.8% of the total supply was reserved for core contributors, with these tokens to be unlocked gradually. The total supply of HYPE is capped at 1 billion tokens. Currently, approximately 238.4 million HYPE tokens are in circulation. HYPE is currently trading at approximately $26, with a market capitalization of $6.2 billion and a fully diluted market capitalization of $25.1 billion. Over 61% of HYPE tokens remain locked.