Most people think $HYPE is a token.
It's not.
It's the first large-scale experiment proving that a trading platform can turn users into owners.
The real innovation isn't the airdrop.
It's aligning:
Liquidity + Attention + Community + Revenue
into one flywheel.
Many exchanges have users.
Many protocols have tokens.
Very few have both.
That's why everyone is watching $HYPE.
The question is no longer whether token incentives work.