Hyperliquid launches native staking
Hyperliquid launches native staking
Decentralized finance (DeFi) protocol Hyperliquid has rolled out native staking on its mainnet, marking a significant milestone in its ecosystem's development.
The feature, introduced on December 30, allows users to earn rewards by staking HYPE tokens to secure the network and validate transactions. Participants can select from 16 validators based on metrics like uptime, commission rates, and community reputation.
Since its airdrop in November, which distributed 310 million HYPE tokens (31% of total supply), staking activity has surged. Data from ASXN reveals that $344 million in HYPE tokens have been staked, representing a total value exceeding $9 billion. The token's value has climbed dramatically from $3.90 on November 29 to around $26.80 at the time of writing, reflecting strong community engagement and confidence in the protocol.
Hyperliquid has allocated 38.8% of its token supply for future emissions and community rewards, along with 23.8% designated for core contributors under a one-year lock period. Its decentralized trading platform recorded a trading volume of $12 billion in December, generating $8.6 million in cumulative revenue, according to DefiLlama.
Taxation and regulatory сhallenges
While Hyperliquid's growth underscores the DeFi sector's momentum, broader regulatory hurdles remain. The U.S. Internal Revenue Service (IRS) recently reaffirmed that staking rewards are taxable upon receipt, classifying block rewards as "income" based on their market value.
Additionally, the IRS introduced new regulations requiring decentralized exchanges to disclose transaction details and taxpayer information. This move, part of a broader effort to increase oversight of digital assets, could impact protocols like Hyperliquid by adding compliance burdens.
Hyperliquid’s staking launch cements its position as a leader in decentralized trading, but the sector faces headwinds from regulatory scrutiny. As decentralized exchanges hit record trading volumes—$462 billion in December alone—the industry is preparing for potential shifts in U.S. policy that may shape its growth trajectory in 2025 and beyond.
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