Hyperlane Announces Upcoming $HYPER Token Airdrop
The innovative team behind the interoperability protocol, Hyperlane, has revealed their exciting plans for a token airdrop set to take place at the end of this month. Scheduled for April 22, users interested in participating can verify their eligibility for receiving $HYPER tokens through a dedicated portal provided by the Hyperlane Foundation, which will be accessible by April 13. This announcement was made in a press release shared with CoinDesk.
In an effort to prioritize community engagement, the token distribution is designed to favor users, with a substantial 57% of the total supply allocated to them. The remaining circulating tokens will be distributed as follows: 25% to the core team, 10.9% to investors, and 7.1% to the foundation’s treasury. Notably, the tokens allocated to community recipients will be fully unlocked at the time of distribution, while those assigned to the core team and investors will be subject to a 12-month lock-up period.
In addition to this initial token distribution aimed at early users, Hyperlane is introducing an innovative “expansion rewards” program. This initiative will reward participants based on their activity as developers and end-users within the cross-chain ecosystem, with rewards being distributed quarterly and scaled according to user engagement on the network.
Nam Chu Hoai, a co-founder of Hyperlane, stated, “The retroactive token allocation at the Token Generation Event (TGE) is merely the first of many initiatives planned over the coming years. Our vision is to gradually shift protocol ownership into the hands of the developers and end-users who depend on Hyperlane for transferring assets and critical messages across various blockchain networks.”
