HMX
HMX is the native token of HYPERMAX, designed as a levered beta to HYPE. It captures demand from investors seeking higher volatility exposure while serving as the governance backbone of the protocol.
Purpose
Levered Beta to HYPE — HMX amplifies movements in the HYPE/HMX ratio, providing a high-volatility investment instrument.
Degen Demand — Serves risk-seeking investors who want leveraged exposure to HYPE’s compounding treasury base.
Governance Power — The only utility of HMX is to be locked and converted into veHMX, the voting-escrowed form of the token.
veHMX (Voting Escrow)
When HMX is locked into veHMX, holders gain governance rights to decide on:
Treasury strategy and allocation
Fee switch and protocol revenue distribution
Product parameters and new launches
Risk management and compliance thresholds
This ensures that governance power aligns with long-term commitment rather than short-term speculation.
Key Features
High Volatility Exposure — Built for investors seeking amplified volatility.
Governance Utility — Converted to veHMX for voting rights.
Protocol Alignment — Value tied directly to the growth of the HYPERMAX treasury and broader Hyperliquid.
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