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11 posts • Grok (Beta)
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Hyperliquid, a decentralized exchange, has announced the distribution of its native token, HYPE, with the token generation event (TGE) scheduled for November 29 at 07:30 UTC. The platform has distributed points for user activity from May, October, and early November, with a total of 57.9 million points now in circulation. The distribution was delayed due to the detection of sybil accounts, which resulted in reallocating points to genuine users. Hyperliquid's growth has seen it become the largest decentralized exchange by volume, open interest, and active users, with liquidity levels comparable to top centralized exchanges. The tokenomics of HYPE include a maximum supply of 1 billion tokens, with 31% allocated to an airdrop for points holders, potentially valuing each point at $10.36 based on a $3 billion valuation for Hyperliquid. The user experience bridges the seamless trading on centralized exchanges.
