The group working on the interoperability protocol Hyperlane announced on Thursday their plans for a token airdrop set to take place at the end of the month.
This airdrop is scheduled for April 22, and participants can verify their eligibility for the $HYPER tokens through a portal made available by the Hyperlane Foundation by April 13, as mentioned in a press release.
The majority of the token distribution will benefit the community, with 57% of the total supply allocated to users. The remaining tokens will be divided among the core team (25%), investors (10.9%), and the foundation’s treasury (7.1%).
Furthermore, the team confirmed that community recipients’ airdropped tokens will be entirely unlocked, while tokens for the core team and investors will remain locked for the initial 12 months.
Alongside the token allocation for early participants, Hyperlane is launching its “expansion rewards” program, which will recognize both developer and end-user activities across different chains and distribute rewards to participants quarterly based on their engagement within the network.
“The retroactive token allocation at the TGE is merely the first in a series of distributions over the next several years, as ownership of the protocol transitions to the developers and end-users who count on Hyperlane for transferring assets and essential messages across chains,” remarked Nam Chu Hoai, co-founder of Hyperlane.
To learn more: Blockchain Startup Hyperlane Raises $18.5M Round Led by Crypto Investor Variant