Hyperliquid, a high-performance decentralized trading platform, conducted a groundbreaking airdrop on November 29, 2024, distributing its HYPE token to 94,000 users with an average allocation of $45,000, significantly higher than typical crypto airdrops. This event marked a shift in sentiment against venture capitalists, as Hyperliquid allocated 76.2% of its token supply to the community, emphasizing a "community first" approach. Following the airdrop, the token's value surged from $4 to $16, and the platform experienced explosive growth in total value locked, defying the usual post-airdrop decline in activity.