Most of the $HYPE vesting takes going around are flat-out wrong and not grounded in the actual onchain data.
A lot of people are using a lazy assumption like this:
Hyperliquid Labs (Core Contributors) holds 242M HYPE, so if that amount vests over a little more than 2 years, it must mean roughly 10M HYPE unlocks every month.
That is simply not true.
The actual vesting data is much more specific, and it is fully verifiable onchain.
Full $HYPE vesting schedule for Hyperliquid Labs (Core Contributors)
For full transparency, the Core Contributors team wallet is:
0x43e9abea1910387c4292bca4b94de81462f8a251
Actual monthly unlocks:
December: 2.6M HYPE (850K re-locked)
January: 1.2M HYPE
February: 140K HYPE
March: 173K HYPE
April 2026: 333,335 HYPE
The unlock schedule is fixed on the 6th of each month.
So far, total unlocked amount is about 4,446,335 HYPE.
If you subtract the 850K re-locked in December, the effective unlocked amount is only about 3,596,335 HYPE.
Now compare that with the amount of $HYPE that has already been permanently bought back and burned during the same period:
44,318,088 HYPE burned
worth roughly $2 billion at current prices
That is why the simplistic “10M HYPE unlocking every month” narrative is completely misleading.
The real unlocks have been far lower, while the buyback-and-burn mechanism has already removed a much larger amount of $HYPE from circulation.
Both Hyper Foundation and Hyperliquid Labs wallets are fully visible onchain for anyone who wants to track them transparently:
Hyperliquid Labs
241,348,531.38 HYPE staked
0x43e9abea1910387c4292bca4b94de81462f8a251
Hyper Foundation
60,063,952.87 HYPE staked
0xd57ecca444a9acb7208d286be439de12dd09de5d
The data is public.
The wallets are public.
The unlocks are trackable.
And the actual numbers tell a very different story from the lazy vesting charts people keep reposting.
Hyperliquid is successful because it is transparent
Hyperliquid!
Big news for institutions trading on @Ripple Prime – we've extended our @HyperliquidX integration to include HIP-3 symbols, allowing for institutional-grade access to onchain perps on traditional assets like GOLD, SILVER, and OIL.
TradFi exposure. DeFi infrastructure. One unified margin framework in your existing portfolio.
The team has withdrawn 333,336 $HYPE for the upcoming unlocks on April 6.
Averaged out daily that's 11,111 HYPE.
Buybacks/burns range from 20,000 - 80,000 HYPE daily.
HYPE is currently deflationary.
Deflationary = coiled spring in price.
Hyperliquid
S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid.
For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes.
The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale.
SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain.
Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.
Hyperliquid treats $HYPE like equity.
Protocol incentives are directly aligned with the community.
That kind of alignment is extremely rare in crypto and it’s one of the reasons why Hyperliquid has a cult-like following.
It’s impossible to deny that HIP-3 markets are starting a new trend: trading traditional assets on-chain.
With the best trading conditions, Hyperliquid is positioned to dominate these markets.
Hyperliquid is becoming a global financial hub.https://t.co/ut0vd72Nuw
HIP-3 is proving to be quite sticky. HIP-3 perps market retention rate is >60% even 3 months post-onboarding. This is extremely high for a trading application and even high for consumer fintech apps in general
As you can see in the chart, there is a drastic difference between the 3-month cohort retention for HIP-3 markets (~64%) and crypto perps (~27%)
There are likely a lot of reasons for this. Some that come to mind:
- Traditional assets more pleasant to trade than crypto which suffers from extreme volatility, market manipulation, and scam tokens
- Perps are a far better way to express leverage than short-term options for most traders, yet they are a novel instrument not currently offered elsewhere (with real adoption) on equities, commodities, etc.
- Macro and flows are always in flux. One day you want to trade silver, the next day you might want to trade oil. HIP-3 allows traders to access all markets on one unified platform
- Hyperliquid trading UI is far superior to that of legacy platforms. Not even just for perps, but as a trading terminal in general. This is a new experience for non-crypto natives who are onboarded via HIP-3
User stickiness is one of the most important metrics for any business, and even more so when dealing with a platform that experiences such massive network effects. I expect to see continued onboarding (and retention) of users to Hyperliquid via HIP-3 markets, resulting in deeper liquidity, more tradable markets, and continued UX improvement via features like BLP and portfolio margin
The house of all finance
cc @0xren_cf@ryohhno for this great data
Hyperliquid
The more HIP-3 providers there are, the more $HYPE gets locked in staking forever.
There are currently 7 HIP-3 providers, collectively locking 3,500,000 $HYPE permanently. HIP-3 is truly one of Hyperliquid’s most successful products.
Hyperliquid