Hyperliquid Labs will distribute 1.2 million HYPE tokens on January 6.

Hyperliquid Labs, the team behind the decentralized exchange Hyperliquid, plans to launch the second major token allocation of HYPE on 1/6, after unstaking 1.2 million tokens worth approximately $31.2 million. HYPE was launched through a community airdrop in November 2024, with a fixed total supply of 1 billion tokens and approximately 238.4 million tokens in circulation.

Currently, over 61% of the supply remains locked, including 23.8% allocated to the core team, which will be gradually unlocked according to a vesting schedule after a one-year cliff period. The first allocation to the team, about 1.75 million tokens, took place at the end of November. Most of the Genesis tokens have been distributed to early users, while the team’s tokens continue to be unlocked on a non-linear schedule.

Previously, Hyper Foundation also proposed burning a large amount of HYPE from the Support Fund to reduce the circulating supply.