Hyperliquid has emerged as a high-performance Layer 1 blockchain, designed specifically to offer an optimized environment for decentralized finance (DeFi), with a particular focus on derivatives trading. With a vision of building an open, on-chain financial system, Hyperliquid’s ecosystem includes a range of applications, including the flagship Hyperliquid DEX, a fully on-chain perpetuals exchange. If you’re an active participant on the platform, there’s good news: Hyperliquid’s airdrop eligibility offers a chance for rewards as part of the ongoing developments.
This article will walk you through everything you need to know to check your eligibility for Hyperliquid’s airdrop and how you can increase your chances of receiving rewards in the form of points, which could eventually lead to future governance token airdrops. Let’s dive into the steps you need to follow to maximize your rewards and stay ahead of potential opportunities in the Hyperliquid ecosystem.
What is Hyperliquid?
Hyperliquid is an innovative blockchain built with a focus on performance, offering a decentralized derivatives exchange with enhanced user experience. The platform’s core feature is its on-chain order book for perpetuals trading, which ensures real-time trading with minimal latency. Its goal is to provide users with access to a fully on-chain, open financial ecosystem where they can build applications, trade financial products, and interact with native blockchain components in an optimized environment.
The platform’s decentralized exchange, Hyperliquid DEX, allows users to trade derivatives products like perpetual contracts and spot assets with high efficiency. Hyperliquid aims to continuously improve and expand its ecosystem, with plans to launch native token standards, spot trading, and permissionless liquidity features.
Why Is Hyperliquid Offering Airdrops?
Hyperliquid has introduced a points-based reward system for its users, with the points acting as a type of currency for rewards. These points are distributed weekly, encouraging users to participate in the ecosystem. The idea behind this system is to not only reward active participants but also to prepare them for potential future governance token airdrops.
By rewarding users for their activity on the platform, Hyperliquid aims to build a dedicated community of users who contribute to the growth of the ecosystem. If you’re an early adopter, there’s a possibility that these rewards could convert into future airdrops, offering users access to Hyperliquid’s governance tokens, which could grant voting rights and a stake in the platform’s future developments.
How to Check Your Hyperliquid Airdrop Eligibility?
Checking your eligibility for Hyperliquid’s airdrop involves understanding how the points distribution works and ensuring that you are actively participating on the platform. Here are the steps you need to take to check and improve your chances of receiving rewards:
1. Sign Up and Connect Your Wallet
To start earning points and check your eligibility for the airdrop, head over to the Hyperliquid platform and connect your wallet. Ensure that you are using a compatible wallet like MetaMask that allows seamless interaction with the platform.
2. Bridge USDC to Arbitrum
Hyperliquid operates on the Arbitrum network, so you’ll need to bridge USDC to this network in order to use it for trading. Bridging assets ensures they are available within the Hyperliquid ecosystem, enabling you to trade and earn points.
3. Deposit USDC into Hyperliquid
Once you have bridged your USDC to Arbitrum, you can deposit it into the Hyperliquid platform and begin trading. The more volume you trade, whether it’s spot assets or perpetuals, the more points you can accumulate.
4. Trade Spot and Perpetuals
To maximize your point earnings:
- Go to the “Trade” section and select “Spot” or “All Coins” for perpetuals trading.
- Spot trading involves trading digital assets like USDC, ETH, and other cryptocurrencies. The higher the volume you trade, the more points you’ll earn.
- Perpetual contracts can also help you earn points, with these trades available under the “All Coins” option.
5. Provide Liquidity
You can also earn points by providing liquidity to the Hyperliquidity Provider (HLP) vault. By depositing USDC into the HLP vault, you provide liquidity for the platform’s markets. Remember, your deposit will be locked for 4 days, so make sure you’re comfortable with the duration.
To deposit:
- Go to the “Vaults” section and choose “Hyperliquidity Provider”.
- Enter the amount of USDC you wish to deposit and confirm your transaction.
6. Generate a Referral Code
Referral programs are another way to earn additional points. Hyperliquid rewards users for inviting others to join the platform. By generating a referral code, you can invite friends and gain points based on their trading activity.
To generate a referral code:
- Go to the “Referrals” section and create a new code.
- Share the code with friends, family, or followers, and earn rewards as they trade.
7. Keep an Eye on the Weekly Snapshots
Hyperliquid will take weekly snapshots of your activity to calculate your points. Points are distributed on Fridays, based on your activity for the week, which ends on Wednesdays at 00:00 UTC. Check your points every week to stay updated on your eligibility for the airdrop.
8. Participate in Speculative Events (Optional)
Hyperliquid has launched PURR memecoin as a test token for its L1 blockchain. While it’s not officially confirmed, trading or holding PURR may provide additional points or rewards. Keep an eye on any announcements related to PURR and other speculative opportunities within the ecosystem.
How Hyperliquid’s Airdrop Works
The points distribution for Hyperliquid’s airdrop works on a weekly cycle, with points being awarded based on your activity. A total of 700,000 points will be distributed each week for the next 4 months. The first snapshot for points distribution was taken from May 29 to June 4, and the points are awarded every Friday.
Hyperliquid also introduced a 2,000,000 points bonus for activity that occurred between May 1-28, which rewarded users who helped grow the platform during its early stages. The 1:5 affiliate points multiplier rewards users who invite others to join the platform.
How to Maximize Your Airdrop Eligibility
To increase your chances of securing more points, consider the following tips:
- Engage Actively: Keep trading on the platform, whether it’s spot assets or perpetual contracts. Higher trading volumes generally lead to more points.
- Provide Liquidity: Depositing USDC into the HLP vault can passively generate points over time.
- Refer Others: Share your referral code with others to boost your point totals and maximize your rewards.
- Watch for Special Promotions: Stay informed about any special events or announcements, such as increased points multipliers for specific actions or new tokens like PURR.
Conclusion: Get Ready for Future Airdrops
Hyperliquid is building a high-performance DeFi ecosystem, and its airdrop eligibility program offers early users an opportunity to receive rewards that could later translate into governance token airdrops. By actively participating—whether through trading, liquidity provision, or referrals—you increase your chances of receiving points and becoming eligible for future rewards.
With weekly points distributions, bonus multipliers, and the possibility of future token airdrops, now is the perfect time to start engaging with the Hyperliquid platform. As the ecosystem grows, early involvement could provide significant advantages, so start earning your points today and check your eligibility regularly.
Additionally, for those looking to explore more projects with potential retroactive airdrops, be sure to check out our list of potential DeFi airdrops that could reward early users with governance tokens in the future. Don’t miss out on the next wave of rewards in the DeFi space!