Binance initially airdropped the Hyperlane token (HYPER) to eligible users before listing it for trading. Hyperlane markets itself as an interoperability protocol allowing permissionless cross-chain communication between multiple blockchain environments with its own Message Passing Protocol (MPP). On its initial day of trading, the price of the token surged almost 6%. The exchange placed a seed tag on the project, signaling that the project has the potential for greater volatility as it has less liquidity.
Hyperlane is the first permissionless interoperability layer that enables smart contract developers to easily send arbitrary data between blockchains. This functionality enables developers to move tokens, execute function calls, and perform other actions, facilitating the creation of interchain applications accessible by users on any blockchain. The Hyperlane contract is usable for future cross-chain endeavors.
The announcement comes right after Binance users were airdropped HYPER tokens. The airdrop was actually unique because of the way it was initially announced—with a Binance Community Support announcement. Hyperlane (HYPER) is the 15th project to be launched through Binance’s HODLer Airdrops program. Binance’s HODLer Airdrops program rewards holders of BNB tokens with free tokens depending on past snapshots taken of their BNB balances.
Trading for Hyperlane (HYPER) began on Tuesday, with the token trading at $0.2695 as of writing time. Binance has tagged lesser-liquidity projects with seed tags such as Hyperlane (HYPER), which are expected to show more volatility. To swap assets with seed tags such as Hyperlane (HYPER), users need to complete quizzes every three months. Partnering with public agencies, this process guides them to know what they’re getting into. Hyperlane (HYPER) is available on CoinGecko.
