Hyperliquid Labs is preparing its next scheduled distribution of HYPE tokens to team members in early January.
Around 1.2 million unstaked HYPE tokens are set to be paid out on January 6.
At current market prices, the allocation is valued at roughly thirty one million dollars.
The distribution represents the second major team unlock since the token’s launch.
Hyperliquid Labs is the organisation behind the Hyperliquid decentralised exchange.
Core contributors were collectively allocated more than two hundred and thirty million HYPE tokens.
That allocation represents nearly one quarter of the total HYPE supply.
The contributor allocation is subject to a multi year vesting schedule.
HYPE was introduced through a high profile community airdrop in November twenty twenty four.
The token has a capped maximum supply of one billion units.
Roughly twenty three point eight percent of the supply was reserved for core contributors.
Moving forward, distributions, if any, will take place on the 6th of the month.
iliensinc said.
The first team distribution occurred on November twenty nine.
That initial unlock released approximately one point seven five million HYPE tokens.
There are currently about two hundred and thirty eight million HYPE tokens in circulation.
HYPE is trading near twenty six dollars per token.
The token’s market capitalisation stands at approximately six point two billion dollars.
Its fully diluted valuation is estimated at around twenty five billion dollars.
More than sixty one percent of the total supply remains locked.
The genesis distribution allocated around three hundred and ten million tokens to early users.
About two hundred and thirty seven million tokens were earmarked for contributors under vesting rules.
The vesting structure includes a one year cliff followed by a twenty four month schedule.
The precise vesting timeline for Hyperliquid Labs has not been fully disclosed publicly.
The vesting is not linear.
A Hyperliquid team member said.
The Hyper Foundation recently proposed burning tokens held in its Assistance Fund.
The proposal would remove roughly one billion dollars worth of HYPE from circulation.
Hyperliquid remains the largest decentralised perpetuals exchange by cumulative trading volume.
Its market share has declined amid competition from newer decentralised derivatives platforms.
At the time of reporting, Hyperliquid price was $26.24.