Hyperliquid, the layer-1 perpetual futures DEX, has officially launched native staking for its HYPE token on the mainnet, marking a major development for the protocol. The launch enables token holders to delegate their HYPE to 16 validators and earn staking rewards while contributing to network security.
At launch, over 300 million HYPE tokens valued at approximately $8.4 billion were staked on the network. Validators must stake a minimum of 10,000 HYPE tokens and can charge commission fees that cannot increase by more than 1%.
The staking mechanism includes specific lockup periods - delegations to validators have a one-day lockup period, while unstaking requires a seven-day waiting period. Locked tokens can participate in staking, though their rewards remain locked.
The HYPE token has shown remarkable market performance since its debut on November 29th. Launching at $3.50, the token surged over 890% to reach an all-time high of $34.96. Currently trading around $26.90, HYPE has secured its position among the top 20 cryptocurrencies by market capitalization, surpassing established projects like Uniswap and Litecoin.
The platform's growth extends beyond token price appreciation. HyperLiquid's trading volume has reached $4 billion in 24-hour volume, while generating daily revenue exceeding $1 million according to DefiLlama data.
The Hyper Foundation has also introduced a Delegation Program aimed at supporting high-performing validators and enhancing network decentralization. The Foundation recommends token holders evaluate multiple factors when selecting validators, including uptime performance, commission rates, and community engagement.
This staking launch represents a key step in HyperLiquid's development, enabling broader community participation in network security while offering token holders opportunities for passive income through staking rewards.