Is there another Hyperliquid airdrop? Points, seasons and honest answers
Verified against Hyperliquid docs: Staking and Hyperliquid Terms of Use · by Hyperliquid Academy
Where things actually stand
Three facts, and everything else on this page follows from them.
The genesis distribution happened. HYPE was distributed to users who had accumulated points before the token existed. That event is closed. Eligibility was decided by activity that is now historical.
The points seasons ended in 2024. Both documented phases closed, and no replacement programme has been published.
Nothing further has been announced. A share of supply is earmarked for future emissions and community rewards, so more distribution is possible. Possible is not announced, and announced is not a programme with rules, a snapshot and a date.
There is no claim site, ever
Any page offering to help you claim a Hyperliquid airdrop is a wallet drainer. Not “possibly” — the entire category exists to harvest signatures.
A real distribution appears in your account on the exchange. You reach the exchange from your own bookmark, and there is nothing to connect anywhere else. If someone messages you about an airdrop you did not know about, that is the attack.
Why every farming guide reads the same
Search the question and you will find detailed instructions for farming “Season 2”: volume targets, wallet strategies, checklists of protocols to touch.
Those guides are describing something the project has not published. Nobody outside it knows the criteria, because there are no published criteria. The confident specificity is a writing style, not information.
That is worth being blunt about, because the advice is not free to follow:
| What farming costs you | Certain? |
|---|---|
| Trading fees on volume you did not otherwise want | Yes |
| The spread you cross on each of those trades | Yes |
| Funding on positions held to look active | Yes |
| Losses from trading more than your judgement supports | Usually |
| A reward | No |
Spending certain money on an uncertain payout with no date and no criteria is a poor trade even when the payout eventually arrives.
What the earmarked supply does and does not tell you
The observation that a large share of supply is reserved for future emissions and community rewards is true, and it is the strongest argument that more distribution will happen at some point.
It tells you nothing about when, to whom, or for what. Those reserves can be spent on emissions to a set of participants nobody has yet defined, on ecosystem incentives, on liquidity programmes, or on an application-specific campaign that rewards behaviour nobody is currently doing.
Assuming that a reserve implies a repeat of the previous programme is the specific error most farming guides are built on.
What actually pays, right now
If the aim is to get more out of using the exchange, three things are documented and available today.
The staking fee discount. Staking HYPE reduces your trading fees on a published schedule, starting at a low threshold. Real, current, and it compounds with everything else. The tiers.
The referral discount. 4 % off fees, applied before your first trade and never afterwards. Free and immediate. The exact terms.
The maker side. Resting an order instead of crossing costs roughly a third as much at the entry tier and reaches zero at higher volume. The levers ranked.
None of those is exciting. All three are certain, which is more than any points speculation offers.
If a programme is announced
It will be published through the project’s own channels, with criteria, and it will not require you to connect a wallet anywhere except the exchange you already use.
Until then, the honest answer to “how do I farm the next airdrop” is that nobody can tell you, and anyone who does is guessing, selling, or phishing.
We publish changes to what we know on the changelog, and corrections to figures on the corrections page. If a programme is announced, that is where this page will change.
Where to go next
What HYPE actually does — gas, staking, fee discounts, governance — and the yield routes that exist today, none of which depend on an announcement.
Frequently asked questions
Was there a Hyperliquid airdrop?
Yes, a genesis distribution of HYPE to users who had earned points before the token existed. It has been distributed. If you were not eligible then, that event is closed.
Is there a second airdrop coming?
Nothing has been announced. A large share of supply is set aside for future emissions and community rewards, which makes further distribution possible but is not the same as a programme with rules and a date.
Are points still being awarded?
The documented points phases ended in 2024 and no replacement has been announced. Anyone telling you exactly how to accumulate points for a coming season is describing something the project has not published.
How do I claim my airdrop?
If you are eligible, it is in your account on the exchange itself. There is no separate claim site. Every page offering to help you claim is a wallet drainer, without exception.
Should I trade more to farm the next one?
Trading costs real money in fees, spread and funding. Paying those against an unannounced reward is a bet with an unknown payout and an unknown date. Trade because the trade is worth doing.
Does staking or providing liquidity earn points?
Not through any published points programme. Staking has its own real, documented benefit — a fee discount — which is worth more than speculation about points because it exists now.
Sources
- Hyperliquid docs: Stakinghyperliquid.gitbook.io
- Hyperliquid Terms of Useapp.hyperliquid.xyz
We link the primary source for every number on this page. If a figure here disagrees with the Hyperliquid documentation, the documentation is right and we want to know.