Gemini Introduces HYPE Token Staking with 2.1% APY for US Customers

Gemini has expanded its offerings by introducing staking for Hyperliquid’s native token, HYPE, allowing customers in most US states to earn around 2.1% annually. The exchange does not impose a minimum stake requirement, nor does it charge transfer or redemption fees. However, residents of New York are excluded from this staking option, as they are from many other staking products available on US platforms.

Understanding Hyperliquid and HYPE Token Staking

Hyperliquid operates a Layer 1 blockchain specifically designed for perpetual futures trading. It utilizes a delegated proof-of-stake model secured by a consensus mechanism known as HyperBFT. Token holders can delegate their HYPE to validators, who process transactions and distribute rewards from a pre-allocated emissions reserve. Currently, approximately 440 million HYPE tokens are staked, which constitutes about 44% of the total supply of 1 billion tokens. The emissions reserve currently yields between 2.1% and 2.3% APY.

For users staking directly on Hyperliquid’s infrastructure, there is a seven-day queue for unstaking after a one-day delegation lock. Validators are also required to maintain a self-delegation of 10,000 HYPE tokens.

Market Competition and Other Platforms

Gemini is not the only platform offering HYPE staking. Kraken introduced HYPE staking in June 2026, featuring a tiered reward structure that can reach up to 2.2% APY, while also excluding users from New York and Maine. Additionally, Grayscale launched the HYPG ETF on Nasdaq on June 3, 2026, which aims to provide exposure to HYPE’s price along with incorporating staking rewards into its return profile, carrying a 0.29% sponsor fee.