Gemini launches staking for Hyperliquid’s HYPE token, offering 2.1% APY

Gemini has added HYPE staking to its platform, giving customers in most US states a way to earn roughly 2.1% annually on Hyperliquid’s native token. No minimum stake is required, and the exchange charges no transfer or redemption fees. New York residents are excluded, as they are from many staking products on US platforms. What Hyperliquid actually is, and why the yield exists Hyperliquid runs a Layer 1 blockchain built specifically around perpetual futures trading. The network uses a delegated proof-of-stake model secured through a consensus mechanism called HyperBFT. Token holders delegate their HYPE to validators, validators process transactions, and the network rewards everyone involved from a pre-allocated emissions reserve. Right now, approximately 440 million HYPE tokens are staked, representing about 44% of the total supply of 1 billion tokens. With current staking levels, the emissions reserve produces between 2.1% and 2.3% APY. For users staking directly on Hyperliquid’s own infrastructure, unstaking involves a seven-day queue after a one-day delegation lock. Validators must also maintain a self-delegation of 10,000 HYPE tokens. Gemini is not alone in this trade Kraken in...