Hyperliquid Airdrop 2026: Points, Season & Payouts
Hyperliquid ran a closed points program on its perp DEX from November 2023 until the HYPE genesis distribution. Rewards now flow through HYPE staking and HLP vault yield rather than points.
How Hyperliquid points were earned
Documented earning mechanics as of 2026-07-05. Multipliers stack where the program allows it.
| Method | Points / $ | Multiplier | Details |
|---|---|---|---|
| HYPE Staking | — | 1x | Staking HYPE earns emissions from the future-rewards reserve (roughly 2.4% APR at 400M staked). No points attach to staking. |
| HLP Deposits | — | 1x | HLP vault deposits earn trading-revenue yield. Points stopped accruing at the November 2024 token launch. |
| Referrals | — | 1x | Referred users get a 4% fee discount. Referrals no longer earn points. |
What Hyperliquid has actually paid out
| Season | Date | Distributed | Price at drop | Eligibility |
|---|---|---|---|---|
| Genesis (Points S1 + S2) | 2024-11-29 | 310M HYPE | $3.2 | Points earned from November 2023 through the pre-TGE phases; about 94,000 wallets shared 31% of the 1B supply. HYPE opened near $3.20 and traded above $4 the same day. |
Status note (2026-07-05): The points program ended with the November 2024 genesis drop. No second points season exists as of July 2026, and the ~38.9% future-emissions reserve remains largely undistributed apart from staking emissions. Treat any "Season 2 snapshot" claim as rumor. Points may never convert to tokens, and conversion ratios are set by the team at distribution time. Never trade solely to farm an airdrop.
FAQ
Is the Hyperliquid airdrop confirmed?
Hyperliquid has already distributed at least one airdrop (Genesis (Points S1 + S2), 310M HYPE). The current program status is completed.
Can I still earn Hyperliquid points?
No — the points era has ended. Nothing earns airdrop points on Hyperliquid today; any methods listed above describe how the concluded program worked.
What did earlier Hyperliquid seasons pay?
Genesis (Points S1 + S2) (2024-11-29): 310M HYPE at ~$3.2 per token.
Other active programs
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