The Hyper Foundation announced its plans regarding the genesis distribution of its native token named HYPE. This is one of the major developments toward realizing proof-of-stake consensus and implementing an Ethereum Virtual Machine on Hyperliquid's layer-1 blockchain mainnet.

Hyperliquid is the largest decentralized order book-based perpetual trading platform in terms of volume. Already counting more than $1 billion worth of daily trading across 145 pairs, and with a user base that easily outshines 200,000, it is increasingly developing into one of the biggest players in the DeFi space.

The Hyper Foundation envisions the HyperEVM as an entry point, whereby users can tap into deeper liquidity pools and a wider range of financial instruments. The foundation explained that the native token is also a linchpin for the HyperBFT proof-of-stake consensus, the HyperEVM, and further roadmap developments.

It is a highly ambitious roadmap, from spot trading to permissionless liquidity. The exchange has already shown its innovative nature, as in September 2023 it allowed the first perpetual trade for the ZRO token of LayerZero, and it still promises continuous support for more diverse trading options.

Due to the crypto community's high expectations for the HYPE token, the Hyper Foundation calls on interested participants to participate in the Genesis distribution before Nov. 11. Announcement of the actual airdrop date will be on Nov. 29, keeping the community in suspense.

To celebrate the launch of HyperEVM on mainnet, the foundation is also giving users a Hypurr NFT. These NFTs don't carry commercial value but are digital memorabilia celebrating this important milestone in the life journey of Hyperliquid.