Hyperliquid

HYPE, the native coin of Hyperliquid, a blockchain built for trading, with the order book itself running onchain in the base layer and smart contracts alongside it. HYPE pays gas, is staked with the validators that secure the chain, discounts trading fees and carries the governance vote. Listing a new token on the exchange is paid in HYPE too, through a Dutch auction that falls over 31 hours to a floor of 500 HYPE. It launched with the mainnet in November 2024, and supply is fixed at one billion.