Hyperliquid Officially Launches Staking Feature For HYPE Tokens

HYPE crypto assets. (Photo; Doc. RocketX)

JAKARTA - Hyper Foundation announced the launch of the staking feature for HYPE tokens. Hyperliquid itself is a layer-1 blockchain platform that focuses on the decentralized financial sector aka DeFi. This new feature will air on the Hyper main network (mainnet). This announcement was made through uploads on platform X on December 30, 2024.

The release of the staking feature is not only an important milestone for the Hyperliquid ecosystem but also provides opportunities for the user community to contribute to securing the network.

"Staking is an important achievement for Hyperliquid as it allows diverse HYPE communities to jointly secure networks," the Hyper Foundation wrote. On proof-of-stake networks like Hyperliquid, validators play a role in proposing new blocks based on the number of HYPEs they touch.

Validators on the Hyperliquid network are required to risk at least 10,000 HYPE of their own. They can also impose commissions on delegators, but these rates should not be increased by more than 1%.

The tokens delegated to a specific validator have a one-day lockdown period, while the withdrawal of tokens from a staking account takes seven days. The Hyper Foundation also explains that locked tokens can still be at stake, even though the yields remain locked.

In selecting validators, HYPE owners are advised to consider a number of factors such as active time, commission level, reputation, and community contribution. This is so that users can maximize profits while supporting network stability.

The HYPE token was first launched on November 29, 2024 at an initial price of 4.31 US dollars (Rp69,822). Within one month, its value jumped nearly 620% to 26.53 US dollars (Rp429,786), according to CoinGecko data. Now HYPE is ranked 23rd on CoinGecko's list.