.jpg)
Part 2: Getting Listed on Hyperliquid
Previous Article Here:
Introduction
If you have reached this step, congratulations again on deploying your token to Hyperliquid L1! In this article, we will go through the steps needed to set up your spot trading pair and get your token listed.
Overview of the steps
As a quick recap, these are the steps necessary to deploy and list a spot token on Hyperliquid:
Step 1: Deploying a spot token (completed)
Step 2: Set deployer trading fee share
Step 3: Set genesis balances
Step 4: Deploy spot trading pair against USDC
Step 5: Deploy Hyperliquidity (Single sided liquidity pool)
Step 6: Review inputs and trigger genesis
Set Deployer Trading Fee Share
As of 26 Jan 2025, Hyperliquid allows you to set a percentage of the trading fee to be paid to the deployer wallet.
For example, assuming that the trading fee is 0.01% (paid in MON), and the deployer fee share is 50%, this means that:
- the deployer wallet address will receive 0.005%
- the remaining 0.005% will continue to be burnt
if the deployer sets their fee share to 0%, a trading fee of 0.01% will continue to be incurred and all of it will be burnt.
Note that once the deployer trading fee share is set in this step, you can only reduce that amount in future.
Configuring Genesis Balance
As of 26 Jan 2025, Hyperliquidity is now optional. This article will discuss the steps necessary to configure your supply to support Hyperliquidity.
Before beginning this step, it is important to understand that your maximum supply is the sum of two components:
- Genesis balance; and
- Hyperliquidity balance
The genesis balance refers to the initial allocation of tokens distributed to a predefined set of wallet addresses.
There are two different ways that you can configure your genesis balance:
- Per user
Per-user distribution allows you to mint tokens to a single wallet address. You may do this multiple times. However, you MUST click “Register User Genesis” each time.
- Per “anchor token”
The Per-Anchor Token distribution model enables minting tokens specifically for existing spot token holders, leveraging the strength of established communities within the Hyperliquid ecosystem. The distribution will be proportional to the number of anchor tokens held by each wallet address.
You need to retrieve the token index, which you can find via the explorer. For example, JEFF's explorer URL on testnet is https://app.hyperliquid-testnet.xyz/explorer/token/0x52dd015f2610ad77eb551a0f8adaae28.
As of 26 Jan 2025, if you specify HYPE as an anchor token, the airdrop will only be distributed to HYPE stakers. Holders with HYPE in their accounts will not receive the airdrop. In the future, there’ll be an option to disable airdrops for selected wallet addresses, e.g. the foundation wallet address.
Airdropping to specific communities:
Note: If you like to distribute an airdrop post-genesis, you can do so with this helpful multisender script built by HypurrScan.
https://github.com/HypurrScan/HL-Tools
Some ideas include:
- Distributing to certain validators, such as ours
- Distributing to NFT collections
- Or any other EVM wallets that fit your community alignment.
Once you have configured your Genesis balance, check your configuration and click “Complete User Genesis” to continue.
Important Information
- You must have MORE THAN 1% of your tokens reserved for Hyperliquidity to deploy successfully
In this configuration, 1,000,001 tokens have been reserved for Hyperliquidity out of a 1 billion token supply. Attempting to issue only 1,000,000 tokens into Hyperliquidity’s order books would result in a configuration failure.
Deploying the Spot Trading Pair
Congratulations on reaching this point! At this simple step, you will deploy the trading pair against USDC.
Please note that your tokens will not be minted after deploying the spot trading pair. They will only be minted after “Step 5: Review Inputs and Trigger Genesis.”
Understanding and Deploying Hyperliquidity
As of 26 Jan 2025, Hyperliquidity is now optional. This section will discuss what Hyperliquidity is and how it to configure it properly.
Inspired by Uniswap, Hyperliquidity combines a native on-chain order book with advanced liquidity strategies for end users. It employs a single-sided liquidity approach, where the spot token deployer seeds the initial order book within a predefined price range. This mechanism is specifically designed to facilitate the price discovery of new tokens, providing a structured and efficient way to bootstrap liquidity.In Hyperliquidity, you seed the order book in discrete bid levels, with each bid level price increasing by 0.3%.
Additionally, Hyperliquidity deployment is subjected to the following conditions:
- Hyperliquidity must be more than 1% of the total supply
- Market capitalisation at the lowest price must be less than USDC 10m.
- Market capitalisation at the highest price must be equal to or more than USDC 1bn
- The number of orders must be equal to or less than 4,000
The above example configures 1% (10m) of tokens into Hyperliquidity, while meeting the conditions. Note that once Hyperliquidity is configured, you will not have access to edit or cancel these orders. However, you may create additional buy or sell orders, alongside these orders.After you have reviewed your configurations and are satisfied, click “Configure Hyperliquidity” to continue to the final step.
Review Inputs and Trigger Genesis
In this final step, you will trigger the minting of your tokens to the different wallet addresses and/or token holders. You will also seed the Hyperliquidity order book and your spot token will be tradeable on the Hyperliquid L1 DEX. Once you are ready, hit “Trigger Genesis”.
Congratulations on listing your Spot token! We are excited to welcome you to the Hyperliquid ecosystem, alongside MON!
Updating Your Listing Details
You might notice that your Spot token is missing a few key details on the trading page, that will enable brand recognition and discoverability:
- Logo
- Description
- Website URL
- X/Twitter
- Telegram
- Listed under the “Strict” category
As of Jan 2025, the only way to update the token with details is to open a ticket on the Hyperliquid Discord. You will be required to sign a few transactions using the deployer wallet. Note that these details cannot be changed after they are submitted and it might take the Hyperliquid team, up to a few weeks for the token to be updated.Our next article will cover the steps and considerations for linking your HyperEVM ERC20 token to your Hyperliquid Spot Token. Stay tuned!
Previous Article Here:
Credits
This article was written by the Mon Protocol team. Their token, $MON became the first EVM-compatible ERC20 native token to launch on Hyperliquid Spot.
About Mon Protocol
$MON is the ecosystem token for the Pixelmon IP, a monster-collecting franchise focused on gaming and anime. It powers in-game sinks for all Pixelmon games and facilitates the payment of royalties to Pixelmon NFT holders, derived from both on-chain and off-chain revenues. On January 2nd, $MON became the first EVM-compatible ERC20 native token to launch on Hyperliquid Spot, further solidifying its presence in the blockchain ecosystem. It is currently traded on multiple centralized exchanges (CEXs) like Bybit, KuCoin, MexC, and Bitget, as well as decentralized exchanges (DEXs) such as Uniswap and Hyperliquid.
The $MON token has three primary utilities:
- Ecosystem Token: Powers in-game economies for all Pixelmon games.
- Airdrop Access: Unlocks over 100 partner token airdrops via the launchpool, which has distributed $6.5 million to MON holders in the past four months.
- Governance Token: Empowers holders to participate in decision-making processes.