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      Gemini Introduces Staking for Hyperliquid's HYPE Token with 2.1% APY

      Gemini, a cryptocurrency exchange based in the United States, has launched staking for Hyperliquid's native token, HYPE, allowing users in most states to earn an annual percentage yield (APY) of approximately 2.1%. This initiative does not require a minimum stake and imposes no transfer or redemption fees. However, residents of New York are excluded from participating in this staking option, a common restriction for many staking products offered by U.S. platforms.

      Hyperliquid operates on a Layer 1 blockchain designed specifically for perpetual futures trading, utilizing a delegated proof-of-stake model secured by a consensus mechanism known as HyperBFT. Token holders can delegate their HYPE tokens to validators, who process transactions and share rewards from a pre-allocated emissions reserve. Currently, around 440 million HYPE tokens are staked, accounting for about 44% of the total supply of 1 billion tokens, with the emissions reserve generating yields between 2.1% and 2.3% APY.

      Gemini's entry into HYPE staking follows similar moves by other exchanges. Kraken began offering HYPE staking in June 2026 with a tiered reward structure that can reach up to 2.2% APY, also excluding New York and Maine. Additionally, Grayscale launched the HYPG ETF on Nasdaq on June 3, 2026, which aims to provide exposure to HYPE's price while incorporating staking rewards into its return profile, carrying a sponsor fee of 0.29%.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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