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HyperLiquid launches HYPE Token stake feature on Mainnet
According to the statement of the Hyper Foundation, the Decentralizationexchange HyperLiquid has officially launched the staking function of its native coin HYPE on the mainnet.
"Stake is an important milestone for HyperLiquid, as it allows HYPE stakeholders to collectively secure the network." The Hyper Foundation said. The foundation emphasizes that, similar to other Proof-of-Stake networks, the chance for validators to propose new blocks is proportional to the amount of HYPE coins they have staked.
HYPE stake operation and reward distribution
Holders of HYPE tokens can now delegate tokens to trusted validators in exchange for stake rewards. The Hyper Foundation urges users to carefully evaluate a validator's online time, commission rate, reputation, and contribution to the community when choosing a stake.
"This mechanism not only rewards participants, but also enhances the security and level of Decentralization of the network," the Hyper Foundation added.
To further decentralize the network, the foundation announced the launch of a program called the 'Delegation Program' to incentivize excellent validators. The specific details have not yet been announced.
In addition, the platform allows staking of locked coins, but currently the rewards for these locked coins cannot be withdrawn.
HYPE stake data and validator specifications
More than 320 million HYPE coins on the HyperLiquid network are distributed across multiple validators for stakes. The platform emphasizes the importance of choosing trusted validators, stating: "Stakers are only rewarded if validators successfully participate in consensus, so proxy coins should be delegated to trusted and trustworthy validators."
HyperLiquid rapid growth of the ecosystem
The HyperLiquid ecosystem is also growing rapidly. According to DeFiLlama's data, HyperLiquid has now become the fifth-ranked platform in terms of Total Value Locked (TVL) in the Decentralized Derivatives Exchange, ranking only after platforms such as Jupiter Perpetual Exchange, Drift Trade, GMX, and dYdX.
This article on HyperLiquid's launch of the HYPE coinstake feature on the mainnet first appeared on Chain News ABMedia.