Popular crypto exchange proposes $1B token burn after steep price crash
Decentralized crypto derivatives exchange (DEX) Hyperliquid has proposed a governance vote that could formally remove roughly $1 billion worth of HYPE tokens from circulation.
This announcement, made on Dec. 17, came weeks after the token suffered a sharp price crash that rattled traders.
Related: Kintsu Launches sHYPE on Hyperliquid
Hyperliquid operates as a decentralized perpetual futures exchange, or perps DEX, allowing traders to go long or short crypto assets with leverage.
Unlike most decentralized exchanges that rely on automated market makers, Hyperliquid uses a fully on-chain order book running on its own custom Layer-1 blockchain. The design aims to deliver near-centralized-exchange execution speeds while…
