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One of the fastest growing projects in crypto is now available for staking rewards.
What’s happening:
- Layer 1 blockchain Hyperliquid has officially launched staking on their mainnet for the first time ever
Why it matters:
- Hyperliquid has quickly become one of the fastest growing blockchains in all of crypto, surpassing Uniswap and Litecoin to become one of the largest digital assets by market capitalization
By the numbers:
- 350M Hyperliquid tokens have been initially staked across 16 different validators
- Hyperliquid is currently generating $1M USD in daily fee revenue from transactions and trading on their decentralized exchange
Going deeper:
- Hyperliquid notably did not raise any funding whatsoever from venture capitalists or angel investors and also successfully pulled off one of the most innovative airdrops in crypto by distributing roughly a third of the entire token supply to their early users
