Zilliqa (zil) 
HyperLiquid Activates Staking on Mainnet with $8.4 Billion Token Lock Up
Decentralized perpetual exchange platform HyperLiquid has officially launched staking on its mainnet, with a significant $8.4 billion token lock up and 16 validators. The move allows HYPE token holders to participate in the blockchain’s validation process and earn rewards.
HyperLiquid’s native staking feature was unveiled on December 30, marking a significant milestone in the platform’s growth. The protocol, recognized for its decentralized derivatives trading capabilities, boasts an impressive $2.64 billion in 24-hour trading volume and generates over $1 million in daily fee revenue.
Staking Rewards and Token Lock Up
Within the first hour of staking activation, users deposited approximately 7 million HYPE tokens, distributed across the 16 validators. Staking involves locking up cryptocurrencies to secure decentralized networks, with stakers earning rewards for their contributions. A total of 300 million tokens, valued at $8.4 billion, were staked at the feature’s launch on HyperLiquid’s layer-1 blockchain.
Users can stake HYPE to a trusted validator and earn staking rewards in HYPE. Users may consider different metrics when choosing which validators to stake to, such as uptime, commission, reputation, and community contributions.
The Hyper Foundation, a non-profit dedicated to the HYPE ecosystem, provided guidance on the procedure for vested tokens, emphasizing the importance of choosing a trusted validator.
HYPE Token Growth and Market Performance
The HYPE token, which debuted last month, has experienced significant growth, climbing from $3.57 to $27.44 at the time of writing. Its $9.2 billion market cap surpasses well-established DeFi projects like Uniswap (UNI) and Litecoin (LTC).
For those interested in learning more about HyperLiquid and the world of cryptocurrencies, be sure to check out more news and updates on Global Crypto News.
