It's inspiring to see tens of thousands of community members secure life-changing wealth as part of the Hyperliquid genesis event. Importantly, none of these people were insiders. They:
1) believed in the vision for a better financial system when no one else would
2) acted on that conviction by using and building upon the nascent technology, bootstrapping an unstoppable financial network
The Hyperliquid genesis pays homage to the original ethos of Bitcoin: ownership goes to the believers and doers, not rent-seeking insiders.
For all you early believers, thank you for the unwavering faith and support. Hyperliquid would be nowhere without you all. I'm grateful and honored to be building alongside you.
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Looking back, we've come a long way. But looking ahead, there's so much further to go.
Finance is humanity's greatest invention. It is the only effective way to coordinate human effort across time and space. Yet, the legacy financial system contradicts its underlying goal of empowering individuals:
- it is opaque and centralized
- it is owned and operated by privileged insiders
- it doesn't embrace technological innovation to better serve users
Hyperliquid is the evolution of finance. And Hyperliquid has not succeeded until it houses all of finance. If you're reading this now, you're still early. The new financial system welcomes you with open arms.
The genesis event for HYPE will occur at 07:30 UTC on November 29.
Hyperliquid has grown to include the largest decentralised exchange by volume, open interest, and active users. Liquidity rivals the top centralised exchanges. The user experience bridges the seamless trading on CEXs with the self-custodial ideals of a fully onchain DEX. Hyperliquid represents the ethos of crypto and decentralised finance, with the technical innovations needed to bring all finance onchain without sacrifices.
While Hyperliquid has come a long way, there is much further to go. Over the past year, the scope of Hyperliquid has expanded from a DEX to a full financial system.
1. At its base, Hyperliquid is a performant, modern L1. Powered by HyperBFT, a highly optimised proof of stake consensus algorithm, disparate nodes can achieve consensus at 200k transactions per second with ~0.2 second time to finality. As the native token, HYPE will be the staked asset securing HyperBFT.
2. The perpetuals and spot DEX are examples of native components built into Hyperliquid. These components are optimised high-throughput financial primitives with which users and smart contracts can interact. For example, HYPE/USDC will be traded on the native spot order book.
3. The HyperEVM will bring full programmability to native components and general-purpose onchain state alike. HYPE will be the gas token of the HyperEVM.
4. The community includes an ever-growing set of passionate and talented builders. Hyperliquid will serve as the infrastructure layer for the next generation of trustless and performant finance built by the community. Unlike other chains, Hyperliquid features onchain monetization for user applications that is built directly into the protocol. As the native asset of the protocol, HYPE will be a crucial building block for defi applications.
The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack.
For more information, see the blog post: https://t.co/e9aznniUwp
The Hyper Foundation has been established to support the growth of the Hyperliquid blockchain and ecosystem. Today, the flagship application on Hyperliquid is the premier decentralised exchange, part of the foundation for a new financial system. Hyperliquid's order books already provide the deepest and most robust onchain liquidity for a wide spectrum of assets.
With the launch of the HyperEVM, any application built on Hyperliquid will also have access to this deep liquidity and other native financial primitives. For the first time, finance will be performant, liquid, and accessible.
The next step of Hyperliquid's journey is the native token, HYPE. A native token is essential for the HyperBFT proof-of-stake consensus, the HyperEVM, and further developments on the roadmap. As part of the genesis distribution, eligible users can choose to receive HYPE and optionally a Hypurr NFT to commemorate the upcoming launch of the HyperEVM on mainnet. Users must review and accept the Genesis Event Terms on https://t.co/VljplmIB2v before November 11, 2024 23:59 UTC to participate.
Further information about HYPE and the Genesis Event will be shared at a later date.