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Hyperliquid HYPE Airdrop (November 2024)

310M HYPE without VCs.

A custom L1 for perps

Hyperliquid runs its own chain with HyperBFT consensus and a fully on-chain order book, targeting sub-second finality. It was self-funded by Jeff Yan's team without venture capital.

Genesis event

On November 29, 2024, 310 million HYPE, 31 percent of the 1 billion supply, was distributed to about 94,000 points holders. Another 38.888 percent was reserved for future emissions and community rewards and 23.8 percent for core contributors.

Price discovery

HYPE opened near $3.90 and rose above $30 by late December 2024, giving it an FDV over $30 billion. Many recipients received six-figure allocations, making it one of the largest airdrops by dollar value.

Fee buybacks

Most trading fees flow to an assistance fund that buys HYPE on the open market, so token demand tracks exchange volume. Open interest grew past $3 billion during the rally.

Lessons

The launch showed that a no-VC model with a large community share could achieve deep liquidity. Risks include validator centralization and the March 2025 JELLY market manipulation incident.

By the numbers

For Hyperliquid HYPE Airdrop, the reference figures are date of November 29, 2024, distribution of 310M HYPE, vc allocation of None, chain of HyperBFT L1. The comparison table below lines up allocation, share — Genesis distribution: 31%; Future emissions & rewards: 38.888%; Core contributors: 23.8%; Foundation: 6%; Others: 0.312%.

Modeling Hyperliquid HYPE Airdrop with the Historical Airdrop ATH Vs Current Calculator

The Historical Airdrop ATH Vs Current Calculator takes three inputs — Tokens received, ATH price ($), Current price ($). Missed value = tokens × (ATH − current). With its default inputs (Tokens received = 1000; ATH price ($) = 15; Current price ($) = 3) it returns 12,000 $; swap in the figures from Hyperliquid HYPE Airdrop above to reproduce the scenario yourself.

Modeling Hyperliquid HYPE Airdrop with the Open Interest To MCAP Analyzer

The Open Interest To MCAP Analyzer takes three inputs — Open interest ($B), Market cap ($B), Price ($). OI/MC = open interest ÷ market cap. With its default inputs (Open interest ($B) = 30; Market cap ($B) = 1300; Price ($) = 65000) it returns 2.31 %; swap in the figures from Hyperliquid HYPE Airdrop above to reproduce the scenario yourself.

Data Table

For educational and informational purposes only. Not financial, investment, tax or legal advice. Figures are approximate and historical; crypto assets are volatile and you may lose capital. Do your own research.