Hyperliquid Announces Meme Coin PURR Will Be Available for Spot Trading Today

Hyperliquid announced that spot trading of its L1 mainnet's first HIP-1 native token PURR will be open from 12:00-14:00 Beijing time today. It is reported that the total amount of PURR is 1 billion, of which 50% will be airdropped to Points holders in proportion, and the other 50% will be permanently locked in the liquidity pool of the PURR/USDC trading pair through the Hyperliquidity mechanism. The issuance of PURR is based on two permissionless native token standards independently developed by Hyperliquid: HIP-1, which allows the deployment of native tokens and the creation of on-chain spot order books; HIP-2, Hyperliquidity is an innovative mechanism that permanently locks liquidity in the spot order book of HIP-1 tokens, forming a synergistic effect with the user's order liquidity. Similar to perpetual contracts, PURR's spot order book will also run entirely on-chain. Hyperliquid said that HIP-1 and HIP-2 are important steps towards a high-performance universal infrastructure.