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Dexly - Hyperliquid Copy Trading Platform

Copy trade the best Hyperliquid traders automatically. Follow top performing wallets and mirror their perpetual trading positions in real-time. Non-custodial copy trading with no platform fees.

Popular Perpetual Markets

Trade BTC-PERP, ETH-PERP, SOL-PERP, and HYPE perpetuals on Hyperliquid with up to 50x leverage. Real-time orderbook, professional charting, and advanced order types.

Why Copy Trade on Dexly

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LearnGovernance and HYPE

Governance and HYPE

Understand the HYPE token ecosystem, governance processes, and how you can participate in the Hyperliquid L1 evolution.

Dexly Research
By Dexly Research
Markets research & editorial team at Dexly
Last updated: 2025-12-26|6 min read
Governance and HYPE

Key takeaways

  • HYPE is the native utility and governance token of the Hyperliquid L1, used to pay gas fees, vote on proposals, and stake to secure the network.
  • Hyperliquid governance is community-driven: proposals are discussed in community forums first, then decided by an on-chain vote of HYPE holders.
  • Staking HYPE is non-custodial and helps the Proof-of-Stake network reach consensus, with stakers earning a share of network fees and ecosystem rewards.

The HYPE Token

HYPE is the heartbeat of the Hyperliquid ecosystem. Beyond being a tradable asset, it serves several critical functions within the network architecture.

  • Gas Fees: Used to pay for transaction fees on the Hyperliquid L1.
  • Governance: Grants holders the right to propose and vote on protocol changes.
  • Staking: Secures the network through a Proof-of-Stake (PoS) mechanism.

Governance Process

Hyperliquid is a community-driven protocol. Changes to the L1, including fee structures and new feature integrations, go through a formal voting process.

Proposal Workflow
Proposals are first discussed in the community forums before moving to an on-chain vote where HYPE holders decide the outcome.

Staking & Rewards

By staking your HYPE, you contribute to the security of the Hyperliquid L1. In exchange, stakers receive a portion of the network fees and potential ecosystem rewards.

Passive Participation
Staking is a non-custodial process. Your tokens stay under your control while helping the network reach consensus.
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Related topics

  • Hyperliquid
  • HYPE token

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Frequently Asked Questions

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Contents

1. The HYPE Token2. Governance Process3. Staking & Rewards4. Frequently Asked Questions