Hyperliquid airdropped 28% of its HYPE token supply to early users. The airdrop is now worth more than $7 billion, making it the most valuable in history.
Hyperliquid has been lauded for delivering the best and most lucrative airdrop launch in crypto history back in November, by excluding VCs and rigorously encouraging community involvement.
Still, experts caution that other projects trying to copy the decentralized exchange’s (DEX’s) launch strategy are unlikely to realize the same success.
Jae Sik Choi, an analyst at Greythorn Asset Management told Cointelegraph the decision to exclude venture capitalists and hone in on community involvement was a boon for the price action of HYPE post-airdrop and helped create the cult following the perpetuals DEX now enjoys on social media.
“One of the main things they got straight was creating short-term artificial demand by not having VCs — this forces them [VCs] to buy the moment the token comes to market along with everyone else,” Choi said.
