This isn’t just another airdrop; it’s an opportunity to position yourself early in a platform that blends the speed of centralised exchanges with the security and transparency of DeFi. 

In this report, we’ll break down everything you need to know about securing your share of HYPE tokens, the registration deadlines, and the key steps to ensure you don’t miss out. Act fast because timing is everything when it comes to this long-anticipated airdrop opportunity.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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A quick recap

Hyperliquid was one of the airdrop opportunities that we covered back in February. The platform attracted us because of its cool tech and UX at the time. It also didn’t have a token and had a points program that hinted at potential airdrop.

To farm the airdrop, we recommended using the platform by creating volume from trading, providing liquidity or using delta hedge trading strategies with other tokenless perp exchanges such as Drift. 

Fast forward to today, Drift has already rewarded its loyal users with a generous airdrop, and the time has come for Hyperliquid.

Let’s start with a recap of what Hyperliquid is…

What is Hyperliquid?

Hyperliquid is a decentralised exchange (DEX) that combines the performance and user experience of centralised exchanges (CEX) with the security and transparency inherent in decentralised finance (DeFi). Operating on its custom-built Layer 1 blockchain, Hyperliquid offers traders a platform with high throughput, low latency, and advanced trading features.

Unlike traditional CEX platforms, where users' assets are held in custody by the exchange, Hyperliquid enables users to maintain control over their funds through non-custodial wallets. This approach significantly reduces the risk of asset loss due to exchange hacks or insolvency. Additionally, Hyperliquid's on-chain order book ensures that all trades are executed transparently, with transactions recorded on an immutable ledger, further enhancing security and trust.

By integrating the strengths of CEX performance with DeFi's security and transparency, Hyperliquid offers a compelling alternative for traders seeking a safer and more reliable platform for their cryptocurrency transactions.

Key features

• High trading volume: As of October 2024, Hyperliquid boasts a daily trading volume exceeding $1 billion on average, outpacing many other decentralised derivative platforms. This substantial volume ensures deep liquidity, enabling users to execute trade efficiently. Hyperliquid consistently ranks first among all Perp DEXes in the market.

  

• Advanced trading tools: Hyperliquid offers sophisticated order types, including Time-Weighted Average Price (TWAP), Scale, and Take Profit/Stop Loss (TP/SL). Users can modify and cancel orders directly, enhancing the trading experience.
• Low fees: The platform implements a competitive fee structure with a 2.5 basis points (bps) taker fee and a 0.2 bps maker rebate. Notably, there are zero gas fees, making trading more cost-effective and smooth for users.
• No Venture Capital (VC) funding: Hyperliquid has grown organically without VC funding, allowing the team to prioritise community interests and product development over external pressures. This approach has fostered a community-centric ethos and may influence a more equitable token distribution during the airdrop.
• Efficient operations: With a lean team of fewer than 10 contributors, Hyperliquid emphasises efficiency and rapid development. The team's background includes experience from high-frequency trading firms, contributing to the platform's high-performance capabilities.

If you have been farming it for a while, here is what to do next. It is time-sensitive!

Upcoming HYPE token airdrop

Hyperliquid has announced the launch of its native token, HYPE, in anticipation of the HyperEVM mainnet debut. This marks a significant milestone in Hyperliquid's evolution toward a comprehensive decentralised finance (DeFi) ecosystem.

Genesis event and airdrop details

• Registration deadline: To participate in the initial HYPE token distribution, known as the "Genesis Event," eligible users must register by November 11, 2024, 23:59 UTC.
• Airdrop date announcement: The exact date of the airdrop will be announced on November 29, 2024.
• Hypurr NFT: Participants can also opt to receive a commemorative Hypurr NFT to celebrate the HyperEVM mainnet launch. However, it isn't available for every user.

How to participate:

1. Go to the Hyper Foundation Website: 
2. Click “Establish connection” and sign the transaction
3. Complete Registration: Review and Accept Terms before the specified deadline
4. Please note that failing to register by November 11, 2024, will exclude you from the initial HYPE token distribution.

This information is time-sensitive. Ensure you complete your registration by the specified deadline to participate in the Genesis Event.

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Cryptonary’s take

Hyperliquid has consistently proven itself as a frontrunner in the DeFi space, offering a seamless trading experience that rivals centralised platforms while upholding the core values of decentralisation. With its emphasis on transparency, efficiency, and community-centric growth—free from external pressures—Hyperliquid exemplifies a VC-free model for future DEX developments.

As the platform approaches the launch of its native token, HYPE, and the upcoming HyperEVM mainnet debut, early participants are presented with an exciting opportunity. We’ve been bullish on Hyperliquid since the beginning, and now, the path is clear for those who have followed our airdrop strategy to make a claim on their reward. Ensure you register for the Genesis Event and claim your share—timing is crucial. 

Don’t fumble the bags!

Cryptonary, OUT!