Hyperliquid Gears Up for Token Launch

Hyperliquid, a Layer 1 blockchain and perpetuals decentralized exchange platform, is gearing up for its Genesis Event, where early users expect to be able to claim their HYPE airdrops. However, some are having trouble confirming their eligibility for the airdrop.

On Nov. 12, the Hyperliquid team re-opened the claim window for an additional 24 hours after users claimed they were unaware of the need to accept the terms and conditions of the upcoming airdrop, while others have been banned from the event despite previously using the platform.

One user, known as MisakaTrades on social media, posted a screenshot from the claims page that read, “Your address is not eligible to participate in the Genesis Event due to repeated attempts to access it from a restricted jurisdiction…”

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The HYPE airdrop is one of, if not the most highly anticipated airdrop event since LayerZero, as the dApp is considered one of the top DEXs, and the Hyperliquid chain has amassed over $1 billion in total value locked, making it the 10th largest blockchain in DeFi.

HYPE is trading at a fully diluted valuation of $3.8 billion in pre-market trading on Aevo.

Spot tokens on Hyperliquid have been surging leading up to the Genesis Event, and PURR, the chain’s first and leading spot token, is up 65% in the last 30 days, to a market capitalization of $137 million.