Where should $HYPE Season 2 rewards lead?
Season 1 put HYPE in the hands of the people who used the network. Season 2 earmarks 38.8M HYPE for the community, and anyone who uses Hyperliquid, whether trading perps and spot, holding HYPE, or building on HyperEVM, decides which contributors it principally flows to. Weigh the options and vote.
Owned by those who build and use it.
Use, vote, earn.
Hyperliquid is owned by those who build and use it. Season 2 rewards follow the vote of the people who use the network across perps, spot, HYPE, and HyperEVM, so the community that drives the exchange decides where the rewards flow.
Use Hyperliquid
Trade perps or spot, hold HYPE, or build on HyperEVM. Your activity is read at the snapshot; voting never moves or locks anything.
Vote the split
Point your vote at the contributor group you want the Season 2 pool to lead toward. One wallet, one vote.
Earn your share
Every user who votes earns an additional HYPE allocation, independent of which direction wins the Season 2 split.
Your vote is rewarded.
Season 2 is distributed to the contributors who carry Hyperliquid: traders, liquidity, builders and the apps on top. The vote sets the lead; showing up is paid on its own.
Season 2 pool
HYPE earmarked for the community, split across the four contributor groups by this vote.
Voter allocation
An additional HYPE allocation for every user who casts a vote, separate from the outcome.
Quorum
The result is binding once 15% of eligible users have voted before the snapshot.
From Season 1 to the split.
Season 1 distributed HYPE to early users. Season 2 lets stakers direct the next distribution.
Genesis distribution
HYPE was distributed to the users who traded and provided liquidity in the first season.
Snapshot
Activity across perps, spot, HYPE and HyperEVM is recorded. Eligibility is set from the snapshot.
Voting window open now
Users direct the 38.8M HYPE Season 2 pool across the four contributor groups.
Close & tally
Votes are finalized; the winning direction sets the Season 2 split, binding at 15% quorum.
Distribution
Season 2 HYPE and the voter allocation are distributed to eligible users.
Common questions
What exactly am I voting on?
How the 38.8M HYPE Season 2 pool is split across four contributor groups: perps traders, HLP and liquidity, HyperEVM apps, and spot and HIP-3 markets. Every group still receives an allocation; the winning direction sets which one the split leads toward.
Who can vote?
Anyone who uses Hyperliquid, whether trading perps or spot, holding HYPE, or building on HyperEVM, is eligible. Eligibility is read from your on-chain activity at the snapshot. It is one wallet, one vote, and casting a vote never moves, unstakes, or locks any tokens.
What do I earn for voting?
Every user who votes earns an additional HYPE allocation, on top of their share of the direction they back and independent of the outcome. Voting is how using Hyperliquid turns into a say and a reward.
What happens if quorum is not reached?
If fewer than 15% of eligible users vote before the close, the proposal does not bind and the Season 2 pool holds for a follow-up vote. Trading, fees, and the Assistance Fund continue as normal.