Hyperliquid launches HYPE trading on November 29

Hyperliquid, a decentralized perpetual exchange built on its own layer-1 blockchain, has just begun trading its own native token, HYPE. The total supply of HYPE is 1 billion tokens, with allocations as follows: 38.888% for future emissions and community rewards, 31.0% for the genesis distribution, 23.8% for current and future core contributors, 6.0% for the Hyper Foundation budget, 0.3% for community grants and 0.012% for HIP-2. Notably, there are no allocations for private investors, centralized exchanges or market makers. According to Hyperliquid, the HYPE/USDC pair is currently trading at $3.56, up 78.2% since its launch at 07:30 UTC on Nov. 29.