After hosting a “community-first” airdrop, which caused its token to surge in value because it distributed no tokens to investors, market makers or any company, Hyperliquid is speculated to host another $HYPE airdrop campaign.
This is because, according to media outlet NFTevening, 42% of $HYPE’s total supply is still allocated for Hyperliquid’s future airdrops.
It should be noted that $HYPE reached an all-time high of ₱1,906.65 a month after launching at ₱381.65, according to CoinGecko data.
But First, What is Hyperliquid?
Hyperliquid is a decentralized exchange, or DEX, that allows users to trade tokens, stake, and provide liquidity. It is built on its own layer-one (L1) network.
According to its developers, the Hyper Foundation, its network is designed as a performant blockchain built with the vision of a fully on-chain open financial system.
The L1 blockchain, which shares the same name as the DEX, uses a custom consensus algorithm called HyperBFT, inspired by HotStuff. In blockchains, HotStuff is a type of Byzantine Fault Tolerance (BFT) consensus mechanism. These are implemented as alternatives to proof-of-work mechanisms, with the goal of achieving similar security without the high energy consumption.
Moreover, the Hyperliquid blockchain is also a proof-of-stake network that has two components.
The first is HyperCore, the technology behind Hyperliquid’s fully on-chain perpetual futures and spot order books. According to the developers, HyperCore can support 200,000 orders per second, with throughput constantly improving as node software is further optimized. Throughput refers to a network’s capacity to process transactions within a given timeframe.
The second component is HyperEVM, which allows developers to use a general-purpose smart contract platform similar to Ethereum Virtual Machine (EVM). With HyperEVM, the performant liquidity and financial primitives of HyperCore are available as permissionless building blocks for all users and builders, according to the Hyper Foundation.
By the Numbers: Here are some statistics about the Hyperliquid DEX and network, as of March 31, 2025:
- Total Users: 412,016
- Total Volume: $1,137,387,182,697
- Total Deposits (All Time): $32,624,502,105
- Total Withdrawals (All Time): $30,728,436,971
- Total Notional Liquidated: $35,165,905,606
How to Be Eligible for the $HYPE S2 Airdrop Campaign?
The Hyper Foundation has not yet confirmed the date of the second season of the $HYPE airdrop. However, more airdrops are expected, as tokens have been allocated for future campaigns.
Although unconfirmed, the S2 campaign may follow the same points system used in the first season. Therefore, another points-based structure is possible.
Join the Leaderboard
Hyperliquid’s leaderboard, which tracks account value, portfolio PnL and all-time profit, is still live at https://app.hyperliquid.xyz/leaderboard. Ranking higher on the leaderboard may increase eligibility for future airdrop rewards.
Trade
Consistently engage in spot and perpetual futures trading at https://app.hyperliquid.xyz/trade. Multiple trading pairs are available.
Provide Liquidity
Become a liquidity provider to available vaults at https://app.hyperliquid.xyz/vaults.
Stake $HYPE
Because the Hyperliquid blockchain is a proof-of-stake network, $HYPE holders can stake tokens to validators and earn staking rewards. Note that rewards are only earned when validators successfully participate in consensus, so users should delegate only to reputable and trusted validators.
Refer New Users
Refer new users to potentially earn more rewards. Only users who have surpassed $10,000 in volume can secure referral codes at https://app.hyperliquid.xyz/referrals.
Participate on its Ecosystem
Here is a list of projects associated with Hyperliquid. Engaging with these projects may lead to airdrop rewards.
This article is published on BitPinas: Will There Be a $HYPE Airdrop Season 2? What to Know About Hyperliquid’s Next Move
What else is happening in Crypto Philippines and beyond?
