Hyperliquid Airdrop (Season 1 Genesis and Points History)

Hyperliquid's airdrop is finished. Points ran in two phases from late 2023 to November 2024 and fed a genesis distribution of HYPE on 2024-11-29. This page covers the points phases from the official docs and the genesis terms, and states plainly what is not documented, including any Season 2.

Key facts

Program

Hyperliquid Points

Season

Closed alpha, Phase 1, L1 phase

Status

ended

Cadence

Weekly (while it ran)

Pool

1,000,000 then 700,000 per week

Conversion stated

n/a

Conversion note

Program ended; HYPE is live.

Checked

2026-10-20

Claim and TGE status

• Token status: HYPE is live. In our data the program status is ended, which means the points program is over, not that the token is gone.
• Genesis terms: 310 million HYPE, 31.0% of the 1 billion maximum supply, distributed to eligible users and fully unlocked at the event, per the Hyper Foundation's genesis announcement as published by The Block (2024-11-28) and Decrypt (2024-11-29).
• Supply split beyond the airdrop: about 38.8% for future emissions and community rewards, 23.8% for core contributors with a one-year lockup, and 6.0% for the Hyper Foundation's operating budget. There were no allocations for private investors, centralized exchanges or market makers. These buckets add up to 99.6%, and the sources we read do not account for the rest.
• The official points page does not mention the genesis, a token, an airdrop or a claim step. It does state that Hyperliquid may modify previous point distributions at its sole discretion.
• The sources we read describe distribution at the genesis event rather than a later claim step; the official points page does not describe how tokens reached wallets.

Season and stage timeline

1. 2023-10-31 The closed alpha period ends. The docs say points were also distributed for the closed alpha, through this date.
2. 2023-11-01 Phase 1 begins: 1,000,000 points distributed weekly for six months.
3. 2024-05-01 Phase 1 ends.
4. 2024-05-29 The L1 phase begins at 700,000 points a week. The docs say activity from 2024-05-01 to 2024-05-28 received a multiplier.
5. 2024-11 The L1 phase ends in November 2024. The docs give the month but not the day.
6. 2024-11-29 Genesis event at 07:30 UTC, announced by the Hyper Foundation: HYPE launches and the airdrop goes to eligible points holders.
7. Date not published Season 2 or any later points phase: the docs list none.

How points are earned

• Points were distributed weekly. Activity was measured for weeks ending Wednesday at 00:00 UTC and points were paid out on Thursdays.
• The docs say the purpose was to reward users who contribute to the protocol's success. They do not publish a scoring formula, and say the criteria were updated on a recurring basis.
• Referrals: affiliates earned 1 point for every 4 points earned by their referred users.
• Phase 1 paid 1,000,000 points a week; the L1 phase paid 700,000 a week. Both numbers are the weekly pools, not per-user amounts, and the docs do not say how many users shared them.
• None of this is open now. The docs describe the phases in the past tense, and no current points program is documented. HIP-3 markets for gold, FX, indices and stocks exist on Hyperliquid, but no points program covers them.

What is unknown

• Whether Hyperliquid plans a Season 2 or any later points phase. Nothing in the official docs we read says so, and we do not treat third-party rumors as documentation.
• The scoring formula behind the weekly points, and how points mapped to HYPE amounts at genesis.
• The exact end date of the L1 phase in November 2024.
• What the remaining 0.4% of supply in the published split is for.

Sharp edges and risks

• Fake 'Season 2' or claim sites are a standing risk around any airdrop. The official docs list no such program, so treat any request to connect a wallet for a Hyperliquid airdrop with suspicion.
• A past genesis does not imply a repeat. The docs say Hyperliquid may modify previous point distributions at its sole discretion, which also shows how little points were promised.
• Several third-party articles quote dollar values for the airdrop that depend on the price used. We do not repeat them here.

We don't price points. This page does not estimate what a point may be worth, and no venue here guarantees a token or an airdrop.

Evidence

Notes

The first phase ran Nov 1, 2023 to May 1, 2024 at 1,000,000 points a week; the L1 phase ran May to November 2024. No current points program is documented.

FAQ

Is the Hyperliquid airdrop over?

Yes for the points program: the docs describe two phases that ended in November 2024, and the genesis distribution took place on 2024-11-29. The docs list no Season 2.

How much HYPE was airdropped?

310 million HYPE, 31.0% of the 1 billion maximum supply, went to eligible users, fully unlocked at the genesis event.

How many points were distributed each week?

The docs say 1,000,000 a week in Phase 1 (2023-11-01 to 2024-05-01) and 700,000 a week in the L1 phase (2024-05-29 to November 2024).

Is there a Hyperliquid Season 2?

Not in the official docs we read. The points page lists nothing after November 2024, so we treat Season 2 as undocumented.

Where do I claim the Hyperliquid airdrop?

The sources we read describe distribution at the genesis event and no later claim step. Be careful with sites that ask you to connect a wallet to claim; the docs list none.

Sources

Official sources read and checked on 2026-10-20

• Hyperliquid docs: Points (phases, weekly amounts)
• Hyperliquid docs index (checked for tokenomics or airdrop pages: none listed)
• The Block (2024-11-28): genesis event terms
• Decrypt (2024-11-29): genesis distribution

Live Hyperliquid perp market data on FundingRates.app (our sister site)

Not financial advice. Points programs change without notice and may never convert to tokens.