Pectra is live on Ethereum mainnet!
- Smart account wallet UX features now active
- L2 scaling data storage blobs increased by 2x
- Validator UX improvements live
Community members will continue to monitor for any issues over the next 24 hours.
Introducing $JPEG
We landed on Hyperliquid with one mission: Make JPEGs Great Again. With our native marketplace, we aim to become the easiest platform for everything NFT on-chain, delivering a seamless experience on HyperEVM.
There is no better place to execute our vision than on Hyperliquid, a team that has proven that with the right team and killer product, you can win. At the core of our vision is a simple yet powerful belief: Hyperliquid is where the next evolution of NFTs will unfold.
The key to our ecosystem lies in our native token $JPEG. It powers core mechanics of our marketplace and launchpad, fuels rewards and incentives, and integrates seamlessly into Hyperliquid for deep liquidity โ in short, $JPEG is the backbone of DripTrade.
$JPEG will go live on the Hyperliquid spot market at 13:00 UTC / 8:00AM ET on Friday, February 21.
๐ข Token Allocation
The maximum supply of $JPEG tokens is capped at 1 billion. The majority of the token supply (70%) is dedicated to fueling the growth and development of the ecosystem. WOAH BIG NUMBER.
๐ Token Distribution Details
Initial Airdrop (10%) โ The initial airdrop is designed to reward early believers in Hyperliquid and to drive long-term growth on DripTrade. As such, this initial distribution of $JPEG goes to key communities leading Hyperliquid NFT adoption:
- Top HL users (based on volume & holdings)
- @HypioHL
- @hypurr_co
- Fat Cats
- @LiquinaHL
- @karu__16
These groups have paved the way for Hyperliquid and we look forward to working closely with each one to grow the ecosystem.
Community Rewards (40%) โ A significant token allocation is reserved for future rewards for the community. Look forward to replacing your day job on DripTrade (or not, we're not your financial advisor).
Ecosystem Growth (15%) โ This allocation is dedicated to fueling the expansion of the DripTrade ecosystem by rewarding users, evangelists, content creators, and more.
Early Backers (12.5%) โ Strategic partners and core advisors who have helped us scale.
(Follows Token Vesting Schedule)
Team (12.5%) โ the m'fing team bro.
(Follows Token Vesting Schedule)
Liquidity (5%) โ Reserve to ensure deep order book liquidity and market stability, including HIP-2.
Foundation (5%) โ Funding for ongoing R&D, additional liquidity provisioning, and infrastructure.
Token Vesting Schedule โ 10% unlocked at TGE (Token Generation Event); 6 month lock period, 18-month linear vest post lock-up.
๐ ๏ธ Token Utility
$JPEG plays a crucial role in powering and aligning the incentives within the DripTrade ecosystem. Designed to support the long-term growth and engagement of the platform, $JPEG offers multiple utilities that drive product adoption, user participation, and value accrual.
The utilities include:
- Marketplace functionality
- Launchpad utility
- Governance
- Advanced access & tooling
๐ The Future
With the launch of $JPEG, DripTrade reaffirms its commitment to the Hyperliquid ecosystem. This is day 1 of our journey to writing the next chapter of Hyperliquid. ๐ฆ
The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquidโs performant financial system. The initial mainnet release of the HyperEVM includes:
1. HyperEVM blocks built as part of L1 execution, inheriting all security from HyperBFT consensus.
2. Spot transfers between native spot HYPE and HyperEVM HYPE. As a reminder, HYPE is the native gas token on the HyperEVM.
3. A canonical WHYPE system contract deployed at 0x555...5 for defi applications. The source code can be found at https://t.co/pXmVRNpqov
Effective immediately, the bug bounty program will pay mainnet bounty amounts for reports within the scope of the points above. See https://t.co/KamzgZAYWh for details.
For API and wallet users: the mainnet HyperEVM has chain ID 999. A JSON-RPC server for the mainnet HyperEVM is hosted at https://t.co/BB0W8L4cXp. Node operators and other builders are encouraged to host their own RPC servers.
Tooling and analytics around mainnet HyperEVM may not be polished on day one. However, there are many talented builders working to solve these developer pain points. To help with these efforts, raw HyperEVM block data is streamed realtime to S3 so that running a node is not required to index the HyperEVM. More technical details can be found here: https://t.co/h6GeFo8HIl
General ERC20 native transfers and precompiles will be enabled on a future network upgrade. Any ongoing feedback for these features on testnet is greatly appreciated. While these features are implemented on testnet, the mainnet releases are staggered for minimal disruption to existing users on the L1. The HyperEVM is composable with the L1 state while not affecting the low latency trading experience of existing users.
Thank you to all the builders and users who have shared feedback on testnet so far. It will be exciting to see new applications leveraging and building upon the existing onchain financial system of Hyperliquid.