On November 29, the Hyperliquid platform conducted a genesis airdrop of its native token, HYPE. Throughout the day, the asset’s price surged by 44%, climbing from an initial $3.2 to $4.6.
— Hyper Foundation (@HyperFND) November 29, 2024
According to the developers, over 333 million HYPE were released into circulation. At the time of writing, with the token priced at $4.6, HYPE’s total market capitalisation stands at approximately $1.5 billion. Trading volume on the first day exceeded $300 million.
As previously outlined, 310 million HYPE were distributed within the community as part of the airdrop tied to the genesis event.
The claim amount depended on the number of points accumulated by Hyperliquid platform users over the six months leading up to May 2024. Each point earned them five tokens in the airdrop.
Social media reports suggest many participants were pleased with their rewards. One user received over $300,000.
thank you hyperliquid
gonna name my daughter jeff$hype to $800 pic.twitter.com/FPrAAzzNUe— LoL (Hyperliquid Arc) (@LedgerOfLight) November 29, 2024
The user noted accumulating around 15,500 points in the rewards programme and promised to name his daughter Jeff, likely in honour of the platform’s lead developer from Hyper Labs.
Earlier, on November 26, the Web3 protocol WalletConnect launched the first season of its airdrop, aiming to distribute 50 million WCT tokens on the Optimism L2 network.