KuCoin Lists Hyperliquid (HYPE) on Spot Trading Platform

KuCoin has announced the listing of Hyperliquid (HYPE) on its Spot trading platform. This development allows users to deposit and trade HYPE tokens on the exchange. The announcement was made here.

Deposits for HYPE are effective immediately, with a requirement for an activation address fee due to the HYPE blockchain network’s specifications. The initial activation of the address will incur a fee of 2 USDT or USDC. Subsequent address viewing will not require additional fees. Currently, KuCoin supports activating deposit addresses only through the web interface, with the app interface not supported at this time.

Trading for HYPE will commence once the token deposit meets the necessary liquidity requirements. The trading pair available will be HYPE/USDT. Additionally, when Spot trading begins, HYPE/USDT will be accessible for various Trading Bots, including Spot Grid, Infinity Grid, DCA, Smart Rebalance, Spot Martingale, Spot Grid AI Plus, and AI Spot Trend.

Understanding Hyperliquid’s Blockchain

Hyperliquid is a high-performance Layer 1 blockchain optimized for a fully on-chain open financial system. It supports user-built applications interfacing with native components without compromising user experience. The blockchain is capable of handling an entire ecosystem of permissionless financial applications, with every order, cancel, trade, and liquidation occurring transparently on-chain with block latency of less than one second. The chain currently supports 100,000 orders per second.

The Hyperliquid L1 employs a custom consensus algorithm known as HyperBFT, inspired by Hotstuff and its successors. This algorithm and the networking stack are optimized to support the Layer 1 blockchain. The flagship native application is the Hyperliquid DEX, a fully on-chain order book perpetuals exchange. Future developments include a native token standard, Spot trading, and permissionless liquidity.

Details on HYPE Deposit Address Activation Fee

When users first choose to deposit HYPE tokens, a pop-up notification will appear on the deposit page. Clicking “OK” will trigger the activation fee deduction, which is automatically deducted from the user’s Funding Account or Trading Account. KuCoin supports USDT or USDC for this fee, defaulting to 2 USDT unless the balance is insufficient, in which case 2 USDC will be deducted.

If KuCoin is unable to deduct the activation fee, the deposit address may not be successfully activated. Users are advised to ensure sufficient funds are available for the fee. The activation fee is only charged for the initial address activation, with no additional fees for viewing the deposit address afterward. Users cannot retrieve the deposit address via API and must manually activate it through the deposit page.

As an incentive, users who activate the deposit address before December 31, 2024, will receive a 50 USDT Spot trading fee discount coupon, distributed within three business days after activation.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.