Magpie Staked HYPE Liquid Staking

mHYPE is a liquid staking token users receive when they stake HYPE through Hyperpie. It represents staked HYPE and passively accrues yield. Unlike a fixed 1:1 ratio, the value of mHYPE relative to HYPE increases over time as staking rewards accumulate.

Staked HYPE earns staking rewards. These rewards are not distributed via rebase or additional token issuance—instead, they are reflected through a rising mHYPE/HYPE exchange rate. For example, 1 mHYPE may be redeemable for 1.05 HYPE in the future, depending on the rewards accumulated.

Yield Accrual: Your staking rewards are automatically reflected in the value of your mHYPE over time.

Liquidity: Unlike traditional staking, mHYPE is fully transferable and can be used across DeFi.

Airdrops: mHYPE holders are eligible to receive airdrop rewards generated from node staking, proportional to their share of the total mHYPE supply.

Governance: Holding mHYPE provides governance rights in Hyperliquid, as it represents underlying staked HYPE.

mHYPE is a versatile asset in the Hyperpie ecosystem. It can be:

• Traded or pooled as liquidity on the MEME DEX
• Used to participate in MEME launches
• Held for governance voting in the Hyperliquid protocol

Yes. You can unstake mHYPE to redeem HYPE, though the process may include an unstaking period (typically 7 days). The amount of HYPE you receive will depend on the current exchange rate.

Yes. Hyperpie smart contracts follow strong security practices and are audited. However, as with all DeFi protocols, users should perform their own due diligence.

No. Rewards are automatically reflected in the rising exchange rate of mHYPE to HYPE. There is no need to claim or compound manually.