Purr (PURR)

Overview

Purr (PURR) is a cat‑themed meme token that lives on the Hyperliquid Layer‑1 network. It launched as the first HIP‑1 native spot asset on Hyperliquid, with no presale and no stated utility at launch. In practice, PURR quickly became a simple way for users to explore the “Purr blockchain” experience inside Hyperliquid’s high‑throughput trading stack. Because PURR trades on an on‑chain order book and uses Hyperliquid’s native liquidity system, it feels more like a lightweight product demo for the chain than a complex financial instrument. Community interest, a fair initial distribution, and a deflationary fee burn now shape most of the narrative people watch when they track the PURR price over time. (muskviewer.com)

History & Team

Hyperliquid rolled out native spot trading in April 2024 and used PURR as the very first HIP‑1 token to go live. There was no token sale. Instead, the team airdropped a large portion to users who had earned points on the exchange. The rest seeded permanent, protocol‑level liquidity on the PURR/USDC order book. PURR’s launch acted as a live stress test for two new building blocks on the chain: the HIP‑1 token standard and the HIP‑2 “Hyperliquidity” mechanism. (theblockbeats.info)

Unlike many meme coins that center on a specific founder persona, PURR is a Hyperliquid‑native community token. It was deployed by the Hyperliquid core team to prove out spot trading on their L1 and to reward early users. The airdrop snapshot targeted points holders; trading opened on April 16, 2024. Over time, community creators and traders adopted PURR as a casual mascot of the network’s culture. (theblockbeats.info)

Technology & How It Works

HIP‑1: Native token standard

HIP‑1 is Hyperliquid’s fungible token standard. When a HIP‑1 token is deployed, it automatically gains a native, on‑chain spot order book against USDC. There’s no separate DEX to integrate or external market maker required for basic trading. PURR was the first real HIP‑1 deployment, showcasing how tokens can launch and be tradeable on day one. (hyperliquid-co.gitbook.io)

HIP‑2: Hyperliquidity

Liquidity is often the hardest part of a new token. HIP‑2 solves this by seeding a permanently locked grid of bids and asks on the order book, targeting a tight 0.3% spread that refreshes every few seconds. For PURR, a slice of the supply was permanently committed to HIP‑2, creating a dependable baseline of depth. In March 2025, Hyperliquidity was upgraded to operate fully as part of L1 consensus, removing operator control and turning it into a decentralized, protocol‑native strategy. (hyperliquid.gitbook.io)

HyperEVM and wallets

Hyperliquid also runs HyperEVM, an EVM environment on the same L1. Users can add “Hyperliquid / HyperEVM” to MetaMask (Chain ID 999) and interact with apps, wallets, and explorers that speak standard EVM tooling. Transfers between the core spot system and HyperEVM are built into the Hyperliquid app, so moving assets to or from EVM is a single flow. While PURR’s core market lives on the native order book, EVM support makes it easier to plug into wider DeFi, NFTs, and gaming experiments. (hyperliquid.gitbook.io)

Tokenomics & Utility

Supply, distribution, and burns

Purr tokenomics are simple. The max supply was set at 1,000,000,000 PURR. At launch, 50% was allocated to points holders and 50% to HIP‑2. Before trading began, Hyperliquid burned 400 million of the HIP‑2 allocation and set 100 million as the final permanently committed liquidity, reducing the live supply base to 600 million. PURR is deflationary: trading fees paid in PURR are burned, which means the supply can decrease over time with activity. This “burn‑as‑you‑trade” model is one of the key pillars people consider when discussing Purr tokenomics and long‑term supply pressure. (protecc.xyz)

Utility by design

The PURR token was launched with no planned utility beyond trading and community fun. That minimalism is the point. PURR’s purpose is to be a simple, native token that shows off Hyperliquid’s tech—an on‑chain order book, protocol liquidity, and fast settlement. As the Hyperliquid ecosystem grows, projects may choose to reference PURR in their apps or distributions, but PURR itself is not positioned as a governance, staking, or revenue‑sharing token. (gateex.org)

Ecosystem & Use Cases

A community anchor on Hyperliquid

Because PURR is the first HIP‑1 asset, many users treat it as a community badge. Builders launching new spot assets on Hyperliquid have, at times, airdropped to PURR holders or used them as a distribution target. This is not a guaranteed policy, but in practice, holding PURR has coincided with multiple community airdrops and point programs, which keeps engagement high. For many users, the “use case” is exposure to the Hyperliquid culture and experiments as they roll out. (thedefiant.io)

Purr DeFi, NFTs, gaming

On the HyperEVM side, developers can experiment with DeFi protocols, NFT drops, and simple games that reference PURR balances or holders. HyperEVM is EVM‑compatible, so common wallet and contract patterns work. Projects can mint NFTs, design PURR‑themed collectibles, or build light games and reward loops around the token. While these are community‑driven efforts, they highlight the way PURR can be woven into DeFi, NFTs, and gaming on the network as the tooling matures. (hyperliquid.gitbook.io)

Culture and mascots

PURR also ties into the chain’s playful aesthetic. Community NFTs and memes have grown around the theme, reinforcing the “cat coin” identity and helping non‑technical users learn the basics of HIP‑1 and HIP‑2 by interacting with a simple token first. (theblockbeats.info)

Advantages & Challenges

Advantages

• Native to a high‑performance L1: PURR shows what on‑chain order books can feel like when they are built into the base chain. (theblockbeats.info)
• Permanent protocol liquidity: HIP‑2 seeds locked liquidity at tight spreads, so markets don’t depend only on external LPs. (hyperliquid.gitbook.io)
• Fair, user‑first distribution: A large share went to points holders, rewarding actual platform users instead of presale buyers. (theblockbeats.info)
• Deflationary mechanics: Fees paid in PURR are burned, so activity can reduce supply over time. (coinmarketcap.com)
• Listings across multiple venues: PURR began on Hyperliquid’s spot DEX and later appeared on select centralized exchanges. (coingecko.com)

Challenges

• No planned utility: As a true meme token, PURR doesn’t promise governance, yield, or protocol rights. (gateex.org)
• Ecosystem‑dependent demand: Interest in PURR often tracks broader Hyperliquid activity and community airdrops. (thedefiant.io)
• Tooling still evolving: Wallet flows between HyperCore spot and HyperEVM are improving, but builders and users are still standardizing best practices. (hyperliquid.gitbook.io)

Where to Buy & Wallets

If you are researching where to buy PURR, start with Hyperliquid’s native spot market, which runs entirely on‑chain and lists PURR/USDC as a core pair. Several exchanges have also listed PURR, including Gate.io, KuCoin, and MEXC. Always confirm the ticker and the network before you trade. (coingecko.com)

For wallets, you have two paths:

• Trading HIP‑1 on Hyperliquid: Connect a supported wallet in the Hyperliquid app to trade PURR on the native order book.
• Using HyperEVM: Add “Hyperliquid / HyperEVM” to MetaMask (Chain ID 999) via Chainlist or the network settings. You can then use EVM‑based explorers and dApps that integrate with Hyperliquid. Transfers between your spot balance and HyperEVM are available in‑app. (hyperliquid.gitbook.io)

Because PURR lives in the Hyperliquid stack, the simplest setup is a standard EVM wallet (for example, MetaMask or Rabby) configured for HyperEVM. From there, you can bridge assets in and, if you choose, interact with PURR‑related DeFi, NFTs, and gaming projects as they appear. (hyperliquid.gitbook.io)

Regulatory & Compliance

Purr regulatory status

PURR is a Hyperliquid‑native meme token with no presale and no stated utility at launch. It functions as a transferable digital asset inside the Hyperliquid network and on exchanges that list it. Like most crypto assets, how regulators view PURR will depend on local law and how the token is used. The project does not present PURR as a claim on revenues, governance, or services, and there is no official statement of regulatory designation. Always check the rules in your own region for listing and custody requirements that may apply to exchanges and wallets. (gateex.org)

Purr halal and Shariah considerations

Many Islamic finance scholars consider simple cryptocurrencies halal when they are used as tradeable digital assets and do not involve interest (riba), gambling (maysir), or deception. PURR is a straightforward meme token with no built‑in interest features. Based on general principles, PURR can be considered halal if it’s used purely as a tradeable asset and kept away from prohibited activities. There is no known formal Shariah certification for PURR at this time. Users who seek personal certainty often consult a qualified scholar. For context, some networks and projects seek explicit Shariah certification; PURR has not announced such a program. (haqq.network)

Future Outlook

Hyperliquid continues to ship upgrades that matter for PURR’s environment. HIP‑2 liquidity is now embedded at the protocol level, and HIP‑3 opens the door to permissionless perps from builders, expanding the design space for native assets. As HyperEVM tooling firms up, expect smoother wallet support and more dApps that can reference PURR balances or PURR holder sets. For many community builders, PURR remains a simple “hello world” for the network—easy to understand, easy to integrate, and tied to the first milestone of Hyperliquid’s spot markets. If more projects choose to airdrop or reward PURR holders, that could continue to keep PURR at the center of community activity, even without formal utility baked in. (artemisanalytics.com)

Summary

Purr (PURR) is a clean, meme‑first token that demonstrates what Hyperliquid’s on‑chain order book and protocol liquidity can do. The Purr blockchain story is really the Hyperliquid story: HIP‑1 tokens, HIP‑2 Hyperliquidity, and a fast base layer that makes spot markets feel immediate. Purr tokenomics are easy to follow—fixed max supply, a large airdrop to users, permanent liquidity seeded at launch, and a burn on trading fees paid in PURR. While PURR has no planned utility, it has become a cultural anchor on the network and a common target for community drops, with growing mentions across Purr DeFi, NFTs, and gaming experiments. For readers comparing tokens on tokenradar.ai, think of PURR as Hyperliquid’s first native meme, a lightweight way to engage with the chain’s tech and community today, and a simple reference point for how HIP‑1/HIP‑2 assets can work in practice. (theblockbeats.info)