Hyperliquid (HYPE)
Unlock Schedule
Hyperliquid (HYPE) Token Unlock & Vesting Schedule
As of October 16, 2026, 383.17 million of the 1 billion HYPE (38.32%) have been released. No further releases are scheduled; the schedule was fully unlocked on October 7, 2026.
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
HYPE’s launch allocation was based on a supply of one billion tokens. About 31% went to early users in the genesis distribution. About 38.89% was assigned to future emissions and rewards, 23.8% to core contributors, 6% to the Hyper Foundation, 0.3% to community grants, and 0.012% to a liquidity program. These percentages describe the launch allocation, rather than the number of tokens held or circulating at any later date. (cdn.21shares.com)
HYPE has several uses. Holders can delegate it to validators and receive staking rewards funded from the future-emissions reserve. Developers use HYPE to pay certain costs when deploying assets and markets on HyperCore. On HyperEVM, it is the native token used to pay gas fees for transactions and smart-contract activity. HYPE staked on the network can also qualify a trading account for fee discounts under the platform’s tier system. (hyperliquid.gitbook.io)
Trading fees follow another part of the token’s economic model. Hyperliquid’s Assistance Fund automatically converts fees it receives into HYPE, which is then burned—permanently removed from supply. HyperEVM also burns certain gas fees. HYPE thus connects network security and app activity to the way tokens enter and leave supply. (hyperliquid.gitbook.io)
Assumptions
HYPE has a one-billion-token maximum allocated at its November 2024 launch among a fully unlocked genesis distribution, core contributors, Foundation and grant budgets, HIP-2 liquidity, and a reserve for staking and community rewards. Contributor tokens had a one-year lock; the chart retains reported monthly vesting through July 2026 and adds tracked contributor events in August, September and October, including 3.75 million on October 7, but the sources do not establish a complete future installment schedule. The Foundation's one-million-HYPE Policy Center commitment has no verified payment date, and neither grant spending nor staking and community-reward distributions can be quantified by month from the available evidence. Launch-date treatment of the Foundation and grant budgets is estimated, and the reported burn figure does not reconcile with the supplied October 10 total-supply reference.
- Current and future core contributors: The sources give the amount but no release dates.
- Hyperliquid Policy Center commitment: The sources give the amount but no release dates.
- Future emissions and community rewards, including PoS rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Future emissions and community rewards, including PoS rewards: Releases depend on future governance or treasury decisions.
- 1. https://hyperfnd.medium.com/hype-genesis-1830a4dc2e3f
- 2. https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/staking
- 3. https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-1-native-token-standard
- 4. https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/info-endpoint/spot
- 5. https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees
- 6. https://crypto.news/hyperliquid-burns-830k-in-hype-near-record-high/
- 7. https://www.cryptometer.io/news/hyperliquid-burns-10-15-million-of-hype-as-token-supply-tightens/
- 8. https://x.com/HyperFND/status/2003684257949188396
- 9. https://beincrypto.com/hyperliquid-hype-token-monthly-unlock-schedule/
- 10. https://cryptoticker.io/en/hyperliquid-hype-unlock-dilution/
- 11. https://tokenomist.ai/hyperliquid/unlock-events
- 12. https://tokenomist.ai/hyperliquid
- 13. https://defillama.com/unlocks/hyperliquid
- 14. https://investors.defillama.com/unlocks/hyperliquid
- 15. https://www.sec.gov/Archives/edgar/data/1682639/000110465926055729/tm2612201d2_ars.pdf
- 16. https://www.sec.gov/Archives/edgar/data/1682639/000110465926095181/hypd-20260630x10q.htm
- 17. https://www.theblock.co/post/383880/hyperliquid-labs-first-allocation
- 18. https://t.me/s/hyperliquid_announcements?before=538
- 19. https://t.me/s/hyperliquid_announcements/573
- 20. https://blockworks.com/token-transparency/filing/hyperliquid
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 6 markets on Binance, Hyperliquid, OKX and Lighter · $2.11B open interest
 Binance (CEX) | 52M | 674K/722K |
 Bybit (CEX) | 33M | 691K/445K |
 Coinbase (CEX) | 29M | 566K/956K |
 OKX (CEX) | 26M | 947K/765K |
 Gate.io (CEX) | 22M | 768K/676K |
 Kraken (CEX) | 18M | 1.1M/2M |
 Bitget (CEX) | 15M | 173K/196K |
 KuCoin (CEX) | 5.6M | 279K/262K |
Binance (CEX) | 5.5M | 177K/308K |
Kraken (CEX) | 3.6M | 530K/765K |
OKX (CEX) | 3M | 810K/814K |
 MEXC (CEX) | 2.3M | 89K/138K |
 HTX (CEX) | 821K | 279K/358K |
OKX (CEX) | 497K | 156K/160K |
Binance (CEX) | 458K | 27K/32K |
KuCoin (CEX) | 214K | 47K/49K |
MEXC (CEX) | 102K | 3.2K/4.1K |
MEXC (CEX) | 57K | 16K/20K |
OKX (CEX) | 14K | 34K/35K |
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 616,826,557 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.
Description
#11
Hyperliquid is a decentralized exchange that allows users to trade perpetual futures contracts on an order book with up to 50x leverage and zero fees. It runs on its own L1 chain based on Tendermint.
| Sector: | Perpetuals |
| Blockchain: | Hyperliquid |
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 6 markets on Binance, Hyperliquid, OKX and Lighter · $2.11B open interest
Binance (CEX) | 52M | 674K/722K |
Bybit (CEX) | 33M | 691K/445K |
Coinbase (CEX) | 29M | 566K/956K |
OKX (CEX) | 26M | 947K/765K |
Gate.io (CEX) | 22M | 768K/676K |
Kraken (CEX) | 18M | 1.1M/2M |
Bitget (CEX) | 15M | 173K/196K |
KuCoin (CEX) | 5.6M | 279K/262K |
Binance (CEX) | 5.5M | 177K/308K |
Kraken (CEX) | 3.6M | 530K/765K |
OKX (CEX) | 3M | 810K/814K |
MEXC (CEX) | 2.3M | 89K/138K |
HTX (CEX) | 821K | 279K/358K |
OKX (CEX) | 497K | 156K/160K |
Binance (CEX) | 458K | 27K/32K |
KuCoin (CEX) | 214K | 47K/49K |
MEXC (CEX) | 102K | 3.2K/4.1K |
MEXC (CEX) | 57K | 16K/20K |
OKX (CEX) | 14K | 34K/35K |