Post #156

The Hyperliquid L1 will support native spot trading, as well as two permissionless standards for native tokens: HIP-1: deploy native tokens and onchain spot order books HIP-2: “Hyperliquidity,” a novel mechanism to permanently commit liquidity to a spot order book for HIP-1 tokens. Hyperliquidity strategies run entirely onchain and synergize with users' order book liquidity. As with perps, the spot order book is entirely onchain. HIP-1 and HIP-2 are steps toward general purpose infrastructure with performant native components. The first spot launch is $PURR. There is no sale and no planned utility for $PURR. There are 1 billion total $PURR tokens, and this number will never increase. 50% of $PURR will be distributed proportionally to points holders. The remaining 50% will be permanently committed as Hyperliquidity on the PURR/USDC pair. Once thoroughly tested, HIP-1 and HIP-2 will become part of the permissionless infrastructure on the Hyperliquid L1. While HIP-1 assets will be native to the Hyperliquid L1, the standard opens the possibility for bridges from other chains. $PURR is live on testnet, so users can familiarize themselves with how native spot assets work on the Hyperliquid L1. Once testing is complete, $PURR will launch on mainnet. The points snapshot for mainnet $PURR has already been taken and will include closed alpha points. The distribution on testnet is different and meant for testing only.