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StakingPerp DEX / L1 · Own L1 (HyperCore + HyperEVM)
HYPE
Author's status: ActiveUpdated: 2026-09-28
I hold HYPE and stake it by delegating to a validator. Hyperliquid as an exchange is listed separately.
Staking
- Token
- $HYPE
- Typical APY
- 2.2–2.4% a year (variable)
- Rewards
- HYPE from delegating to a validator (auto-compounding)
- Note
- The reward rate is designed to be inversely proportional to the square root of total stake; with 400M HYPE staked it is about 2.37% a year. Rewards accrue every minute, are distributed daily and are automatically redelegated to the same validator. Validator commission is roughly 1–5%. Unstaking has a queue of about 7 days, and with the 1-day delegation lock, funds can be stuck for up to about 8 days.
Valuation
- FDV (fully diluted)
- $85BMarket cap $20B
- FDV ÷ revenue
- 123xRevenue, last 365 days $688M149x on the last 90 days × 4 (annualized $569M)
- FDV ÷ holder returns
- 149xBuybacks, burns and distributions over the last 90 days: $142M (×4 to annualize)
- Note
- About 97% of fees go to buybacks through the Assistance Fund, and a December 2025 validator vote deemed those holdings burned. Supply is capped at 1B. Much of the supply is not circulating, so the multiple is high on an FDV basis.
As of 2026-09-28. FDV and price from CoinGecko; revenue and holder returns from DefiLlama. The denominator is revenue, not profit, so this is closer to a price-to-sales ratio than a P/E. The author treats FDV ÷ revenue of 5x or less as cheap, but it moves a lot with revenue swings and unlocks.
TGE and points
- TGE
- $HYPE2024-11-29
- Points program
- No points
Team, funding and user base
- Base
- Singapore (company HQ)
- Founders / leads
- Jeff YanJeff Yan is a former quant at Hudson River Trading. One co-founder is anonymous.
- VC funding
- NoneNo VC funding; self-funded.
- X followers
- 428.3K@HyperliquidXas of 2026-09-28
Risks and caveats
- Staking yield is variable and not guaranteed. It is designed to fall as total stake grows.
- Unstaking takes about 7 days, so it cannot cover a sudden need for cash.
- There is precedent: in the March 2025 JELLY manipulation incident, validators delisted the market and force-settled positions.
- In May 2026 CME and ICE reportedly urged US regulators to investigate, and in June the UK FCA added it to its warning list.
Links
Sources
- Hyperliquid Docs - Stakingaccessed 2026-09-28
- Staking Rewards - Hyperliquid (HYPE)2026-09-28
- Hyper Foundation on X - vote to treat Assistance Fund holdings as burned2025-12
This page is for information only and is not a solicitation to use any crypto asset or service. Airdrops and their amounts are not guaranteed, and you may lose the funds you deposit.