Hyperliquid (HYPE)

Tokenomics & Utility

Supply, allocations, and emissions

Hyperliquid tokenomics were set out during the HYPE genesis event. The initial maximum supply was 1,000,000,000 HYPE, allocated as follows: 31.0% to the genesis distribution, 38.888% to future emissions and community rewards, 23.8% to current and future core contributors (with a one‑year lock and multi‑year vesting thereafter), 6.0% to the Hyper Foundation budget, 0.3% to community grants, and a small 0.012% HIP‑2 allocation. The team emphasized no allocations to private investors, centralized exchanges, or market makers. (hyperfnd.medium.com)

In September 2025, an external asset manager publicly proposed reducing authorized supply by about 45% by revoking unminted emissions and burning certain reserves; such changes would require governance to enact. Whether or not proposals like this pass, they illustrate that Hyperliquid tokenomics are an active topic for community debate. (cointelegraph.com)

What HYPE does

• Gas: HYPE is the native gas token on HyperEVM.
• Staking: HYPE is staked to validators to secure the chain; delegators can choose validators and earn protocol rewards.
• Builder and ecosystem incentives: Emissions and grants fund liquidity, apps, and community programs over time.
  Together, these functions influence long‑term network health and, indirectly, how the market values HYPE price over time. (hyperliquid.gitbook.io)