According to the statement of the Hyper Foundation statement, the decentralized exchange HyperLiquid has officially launched the staking function of its native token HYPE on the mainnet.
"Staking is an important milestone for HyperLiquid, as it allows the diverse community of HYPE stakers to collectively safeguard the network security," the Hyper Foundation said. The foundation emphasized that, similar to other Proof-of-Stake networks, the chance of validators proposing new blocks is proportional to the amount of HYPE tokens they have staked.
Table of Contents
ToggleHYPE staking operation and reward distribution
HYPE token holders can now delegate their tokens to trusted validators in exchange for staking rewards. The Hyper Foundation urges users to carefully evaluate the uptime, commission rate, reputation, and community contributions of validators when choosing whom to stake with.
"This mechanism not only rewards participants but also strengthens the network's security and decentralization," the Hyper Foundation added.
To further decentralize the network, the foundation announced the launch of a "delegation program" to incentivize outstanding validators, with details yet to be published.
Additionally, the platform allows staking of locked tokens, but the rewards for these locked tokens cannot be withdrawn at this time.
HYPE staking data and validator requirements
Over 320 million HYPE tokens have been distributed across multiple validators on the HyperLiquid network. The platform emphasizes the importance of selecting trustworthy validators, stating: "Stakers can only receive rewards when validators successfully participate in the consensus, so they should delegate their tokens to reliable and credible validators."
Rapid growth of the HyperLiquid ecosystem
The HyperLiquid ecosystem is also growing rapidly. According to DeFiLlama data, HyperLiquid has become the fifth-largest decentralized derivatives trading platform by total value locked (TVL), trailing only Jupiter Perpetual Exchange, Drift Trade, GMX, and dYdX.
Risk Warning
Cryptocurrency investments carry a high degree of risk, and their prices may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
