CMC News

Hyperliquid Labs Gets 1.2M HYPE Token Unlock

Team members at Hyperliquid Labs will receive their initial $HYPE token allocation on Jan. 6, with 1.2 million #tokens valued at roughly $31.2 million scheduled for distribution. The release initiates a vesting program that controls nearly one-quarter of total token supply.

Co-founder Iliensinc confirmed in a Discord message that distributions will follow a monthly cadence on the sixth of each month going forward. The tokens were unstaked specifically to facilitate the upcoming team payout.

Total $HYPE supply is capped at 1 billion tokens, with core contributors holding rights to approximately 237 million tokens under a structured release schedule. DeFiLlama data indicates the vesting includes a one-year lockup followed by 24 months of gradual unlocking.

The November 2024 genesis event distributed around 310 million tokens immediately to early users and community participants through an #airdrop. Current circulating supply sits near 238.4 million tokens, leaving more than 61% of total issuance still locked.

$HYPE trades around $26, producing a circulating market cap of $6.2 billion and a fully diluted valuation reaching $25.1 billion. Price performance has held relatively steady despite upcoming unlock events that typically create selling pressure.

The #HyperFoundation recently proposed burning close to $1 billion worth of tokens directed to the Assistance Fund. This mechanism automatically routes a portion of trading fee revenue to an inaccessible wallet, permanently removing those tokens from active circulation.

#Hyperliquid maintains its position as the largest decentralized perpetuals platform by total volume processed. However, market share has declined as competitors, including Lighter on $ETH and Aster on BNB Chain, capture growing trading activity.

Complete details of the multi-year vesting timeline remain unpublished beyond the monthly #distribution framework outlined by leadership.