On Friday, Hyperliquid reached a significant milestone with the launch of its HYPE Token, marking the conclusion of the long-awaited Token Generation Event (TGE).
The internal token of Hyperliquid’s Layer-1 blockchain, HYPE is off to an explosive start, surging 125% in just a few hours after going live.
TGE, be notified in a post on X (formerly known as Twitter) on Friday, distributing 31% of the total HYPE supply in the initial distribution. Users noticed this was a batch “perfect airdrop,” evidence There are no interruptions, delays, or internal transactions.
This sparked a wave of excitement and analysis in the cryptocurrency community. Abhi, a prominent cryptocurrency analyst, praised Hyperliquid’s airdrop strategy.
“Dear Projects! Let’s research Hyperliquid and understand how an airdrop should be done. Indeed, 31% HYPE TGE airdrop allocation on the first day of release. It launched with a FDV of $4 billion and a market capitalization of $1.5 billion. I believe this will be another successful protocol,” crypto maxi comment.
Hyperliquid’s fresh approach to TGE demonstrates its commitment to decentralization and organic growth. The token creation event marks the latest chapter in Hyperliquid’s rapid advancement in DeFi (DeFi).
The launch paves the way for significant growth. This includes a move towards greater decentralization through community governance and the expected expansion of the validator network.
“Congratulations to everyone on Hyperliquid right now. It’s nice to know that you can count on something. 22 USD per point. Looks like the team is prepared, with only 30% airdrop,” said a DeFi researcher note.
Currently, Hyperliquid is operating with four internal validators. The emergence of HYPE will enable the integration of external validators to enhance operational security and decentralization. Aylo, a researcher at Alpha Please, emphasizes the importance of product-market fit (PMF) in project success.
“PMF + airdrop really works. You just need to identify protocols/apps that people will continue to use regardless of the airdrop because the product is really good/solves a problem. Many examples of this cycle: Jito, Kamino, HyperLiquid, Grass, etc” Aylo comment.
However, some experts urge caution. Airdrop researcher FIP Crypto advises investors to be wary of projects that rely entirely on airdrops to attract users.
“That was an immediate red flag for me,” the researcher said expressed.
Notably, HYPE is not conducting any capital raising, with the first Token unlocking event scheduled for November 2025.
Plans to Expand Ethereum Compatibility and Hyperliquid Development
However, Hyperliquid is facing sustainable development. At the time of launch, it has a market capitalization of nearly $1.5 billion and plans to be compatible with Ethereum. Other plans include community-run governance and decentralized validators.
The success of TGE and the increase in HYPE’s value reflect strong support from the community and growing interest in its ecosystem. In the midst of the TGE event, one of Hyperliquid’s major investors supposedly received 508,985 HYPE in the initial airdrop.
Elsewhere, Hyperliquid is preparing to deploy HyperEVM. This feature will bring Ethereum Virtual Machine (EVM) compatibility to its blockchain. This update will allow Ethereum developers to deploy decentralized applications (dApps) directly on Hyperliquid’s platform. It will take advantage of the DEX’s gas-free trading capabilities and fast processing speeds.
“Hyperliquid is transforming from a specialized appchain into a general-purpose Layer-1, with more than 35 teams ready to build on the new HyperEVM ecosystem,” speak MONK, a researcher at Messari.
Notable projects, including Felix Protocol and HyperLend, are joining the ecosystem, offering stablecoins, lending platforms, and other DeFi solutions.
As Hyperliquid moves into its next phase, the launch of HyperEVM and the push towards decentralization is likely to solidify its position as a leader in DeFi innovation.
“For perps, the gold standard is CEX, so if Hyperliquid provides better/similar UX and more transparency while also moving people away from CEXs that require KYC, that’s a positive. Congratulations if you make money from this today, use it to get more of your friends out of CEX!” Helius Labs CEO Mert Helius comment.