The development team of the decentralized exchange Hyperliquid, Hyperliquid Labs, will conduct the second round of token distribution on January 6. According to the latest announcement on Discord, approximately 1.2 million HYPE tokens (equivalent to about $31.2 million) have been unstaked and will be distributed to team members' accounts as scheduled on January 6.

HYPE is the native token of the Hyperliquid ecosystem, officially launched through a community airdrop in November last year. At that time, the project announced that 23.8% of the total token supply would be reserved for core contributors, with a one-year lock-up period, followed by a two-year linear release cycle.

From a market perspective, HYPE's data is quite interesting. The total supply is fixed at 1 billion tokens, with approximately 238.4 million tokens currently in circulation. At the current price of $26, the market cap is around 62 billion RMB, and fully diluted valuation reaches $25.1 billion. Most importantly, over 61% of the tokens are still locked in the vault, which significantly impacts expectations for subsequent liquidity releases.

It is worth noting that the first distribution occurred on November 29, when 1.75 million tokens were distributed. Co-founder iliensinc announced that future team distributions will be uniformly conducted on the 6th of each month, which is actually laying the groundwork for better rhythm management in the future.