Layer-1 Blockchain’s $1.2 Billion Distribution Sets RecordsHyperliquid’s bold entrance into the decentralized finance (DeFi) spotlight on November 29 has sparked significant market excitement, as its HYPE token surged by over 80% following an unprecedented billion-dollar airdrop. Over 310 million HYPE tokens were distributed to eligible community members, making it one of the largest token giveaways in DeFi history. Valued at $3.90 at launch, the tokens carried an initial distribution worth $1.2 billion. Within 12 hours, the token’s price climbed to $6.16, with a market cap edging closer to $2 billion. At the time of writing, it's trading at around $7.2 with a market cap of over $2.4 billion.As a layer-1 blockchain powered by proof-of-stake consensus, Hyperliquid stands out for its capacity to process up to 200,000 transactions per second. The HYPE token functions as the lifeblood of its ecosystem, serving dual purposes as a staking asset and the gas token for Hyperliquid’s Ethereum Virtual Machine-compatible layer, HyperEVM. The genesis airdrop alone distributed 31% of the token’s $1 billion total supply, leaving 38.8% earmarked for future community rewards and emissions. Smaller portions were allocated to the Hyper Foundation treasury (6%) and grants (0.3%), while core contributors are set to receive 23.8% under a lock period lasting until 2028. Hyperliquid clarified that no tokens were reserved for private investors, centralized exchanges, or market makers, marking a distinct approach compared to many protocols.Historical comparisons underscore the scale of this event. Uniswap’s 2020 airdrop, once regarded as monumental, distributed 400 UNI tokens to over 250,000 users, initially valued at $1,300 per recipient. Those who held onto their tokens witnessed UNI’s value soar to $42 during the DeFi summer of 2021. Similarly, Arbitrum’s 2023 airdrop reached over 625,000 wallets, distributing tokens initially valued at $1.30 for a collective worth of $812,500. Both events pale in comparison to Hyperliquid’s staggering $1.2 billion token giveaway.Airdrops, while serving as promotional tools and rewards for early adopters, often mark pivotal moments for blockchain protocols. With its ambitious airdrop and surging token value, Hyperliquid has secured its place in the annals of DeFi history, signaling potential for continued innovation and growth in the sector.This article has been refined and enhanced by ChatGPT.