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.