HyperLiquid Unveils Staking Feature as HYPE Token Gains Momentum
The launch of native staking for HYPE token holders seeks to bolster network security and increase rewards.
What to know:
- HyperLiquid has introduced native staking with 16 validators available.
- Tokens that are locked can be staked, though the rewards earned will remain locked until a later date.
- HYPE has climbed into the top 20 tokens, boasting a market cap of $9.2 billion, surpassing bitcoin cash, litecoin, and pepe.
Layer-1 blockchain HyperLiquid has launched a native staking feature for its HYPE token holders, as announced in a recent post on X. Stakers can choose among various validators and will earn rewards as they contribute to the network's security. Initially, HyperLiquid staked 300 million tokens ($8.4 billion) with an additional 7 million tokens staked by users in just the first hour across 16 validators.
Moreover, tokens subject to a vesting schedule are eligible for staking, but any accruing rewards will not be accessible immediately.
The decision to introduce staking follows just one month after the HYPE token's initial issuance, which began at $3.57 and has surged to $27.89, according to CoinMarketCap data.
Currently, HYPE’s total market capitalization stands at $9.2 billion, placing it firmly within the top 20 largest tokens after outpacing major names like BCH, PEPE, and LTC.
In the last 24 hours, the exchange has reported a trading volume of $2.64 billion, and DefiLlama indicates it is generating over $1 million in daily revenue.
