HyperLiquid rolls out native staking for HYPE token holders

Key Takeaways

HyperLiquid launched staking for its HYPE token, allowing holders to delegate tokens to validators.
HYPE’s market cap has reached $9 billion, surpassing tokens like Uniswap and Litecoin.

HyperLiquid has rolled out native staking for its HYPE token, enabling holders to delegate tokens to 16 validators and earn rewards while securing the network.

At launch, the layer-1 perpetual futures DEX staked over 300 million HYPE tokens, valued at $8.4 billion.

“Staking is an important milestone for HyperLiquid because it allows the diverse community of HYPE stakers to collectively secure the network,” stated a post by HyperLiquid Foundation on X.

The post also encouraged users to consider different metrics when choosing validators, such as uptime, commission rates, reputation, and community contributions.

The HYPE token, which debuted on Nov. 29 at $3.50, has experienced remarkable growth, surging over 890% to reach an all-time high of $34.96.

Currently trading at $26.90, the token is down 2.5% in the last 24 hours, with a market capitalization of $9 billion.

This valuation has propelled HYPE into the top 20 largest tokens by market cap, surpassing Uniswap, Litecoin, and PEPE.

HyperLiquid has also announced a Delegation Program aimed at bolstering decentralization by incentivizing high-performing validators.

This initiative comes alongside impressive ecosystem growth, with HyperLiquid’s trading volume reaching $4 billion in the last 24 hours, according to X3 Research’s Dune dashboard.

Additionally, DefiLlama data shows the platform is generating daily revenue exceeding $1 million.