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News

Hyper Foundation Launches HYPE Token Staking to Boost Network Security

December 30, 2024 - Around 2 mins mins to read

Key Points:

  • Hyper Foundation activated HYPE token staking on the HyperLiquid blockchain, allowing users to delegate tokens to trusted validators for rewards.
  • At launch, HyperLiquid staked 300 million tokens, with users contributing an additional 7 million within the first hour across 16 validators.
The Hyper Foundation has announced the mainnet implementation of the HYPE token staking function, which went live on the mainnet, marking an important milestone in its Layer-1 blockchain, known as HyperLiquid.
Hyper Foundation Launches HYPE Token Staking to Boost Network Security

Read more: North Korean Hackers Cause Hyperliquid to See Largest Outflow in a Day

Hyper Foundation Goes Live with HYPE Token Staking on Mainnet

The home for the decentralized derivatives exchange now allows holders to stake HYPE and earn rewards while contributing to network security and further decentralization.

HYPE token staking will enable users to delegate their tokens to trusted validators, who will be an essential element of the network. Participants will be encouraged to judge the validator pool on parameters such as uptimes, commission rates, reputation, and community contributions to help incentivize active contributors and make the network more robust.

According to Hyper Foundation, the locked tokens under a vesting schedule can also be staked, although accrued rewards will remain locked until the vesting period is over.

New Delegation Program to Support High-Performance Validators

At its launch, HyperLiquid itself staked 300 million HYPE tokens. An additional 7 million tokens came from users in the first hour of operation. The token is distributed across 16 validators to ensure that the project remains decentralized. The token, HYPE, was issued a month ago and currently trades at $28.16.

The launch of staking coincides with broader efforts to strengthen the ecosystem. The Delegation Program from the Hyper Foundation will incentivize top-notch validators.

Details are still sparse, but the program promises to reward active validators with contributions to the development and stability of the blockchain.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.