Liquid Staking (mHYPE)
Overview
Users stake HYPE tokens in SpinUp and receive mHYPE, a yield-bearing liquid staking token that represents staked HYPE. Unlike a fixed 1:1 ratio, the mHYPE/HYPE exchange rate is dynamic and increases over time as staking rewards accumulate.
Key Features
Yield Accrual: Staked HYPE generates rewards that are reflected in the rising mHYPE/HYPE exchange rate, rather than through a rebase. For example, if you initially stake at a 1:1 ratio, over time each mHYPE becomes redeemable for more than 1 HYPE.
Airdrops: Rewards from node staking may be distributed to mHYPE holders based on their share of the total supply.
Liquidity and Flexibility: mHYPE is transferable and can be used across DeFi, such as providing liquidity on the Meme DEX or participating in Meme Launches, giving users flexibility while still earning staking yields.
Governance Rights: mHYPE carries governance rights in Hyperliquid through its underlying HYPE. Holders can take part in decision-making, ensuring long-term participants have a voice in shaping the platform.
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