Hyperliquid Opens Staking with HYPE Token in Top 25 by Market Cap

The Hyper Foundation announced today that staking of its native HYPE token is now live on its mainnet.

“Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network,” the foundation said in an X post on Dec. 30.

As on most proof of stake networks, validators propose new blocks on Hyperliquid in proportion to the amount of HYPE staked to them.

Validators must stake at least 10,000 HYPE of their own, and can charge commissions that cannot be raised more than 1%, according to the Hyper Foundation. Delegations to a particular validator will have a one-day lockup, but moving tokens out of staking accounts takes seven days.

Locked tokens can be staked but their rewards remain locked, the foundation said.

The foundation urged HYPE owners to consider a number of metrics when choosing a validator with which to stake their tokens and earn rewards. These include uptime, commission, reputation, and community contributions.

HYPE launched on Nov. 29 at a price of $4.31 and has since grown to $26.53, up almost 620%, according to CoinGecko. It has an all-time high of $34.96.

Hype’s market capitalization is $9 billion with a fully diluted valuation of $26.6 billion, making it the No. 23 token on CoinGecko.