Loading...What is Hyperwave?
Hyperwave is a DeFi protocol building a comprehensive “SuperApp” on the Hyperliquid ecosystem, designed to enhance liquidity and yield optimization across the platform. The project focuses on tokenizing key Hyperliquid primitives into composable, yield-bearing assets that can be utilized across various DeFi protocols. Developed with support from Swell Labs, Hyperwave addresses limitations in Hyperliquid‘s ecosystem by making high-yield primitives accessible and integrable into broader DeFi applications.
The protocol’s flagship products include hwHLP, a yield-bearing token representing exposure to Hyperliquid’s Hyperliquidity Provider (HLP) vault, and hwHYPE, an automated vault that optimizes HYPE token deployment across lending protocols. Built on HyperEVM, Hyperliquid’s EVM-compatible layer, Hyperwave enables seamless integration with existing DeFi tools while leveraging Hyperliquid’s native features. The project has established partnerships with major ecosystem players including Pendle, Euler Finance, Felix Protocol, and LayerZero, positioning itself as a central hub for Hyperliquid DeFi activities.
Hyperwave Airdrop Details
Hyperwave operates a Wave Points program that rewards ecosystem participants with points leading to an airdrop of the $HWAVE governance token. The program’s Season 1 ended on August 28, 2025, with 16% of the total $HWAVE supply allocated to participants (recently increased from 8%).
Participants can earn Wave Points through various activities including holding hwHLP tokens (1 point per day), depositing into hwHYPE vaults (50 points per day), and engaging with integrated protocols. The program includes multiplier boosts for activities like liquidity providing on Pendle (2x-2.5x), borrowing on protocols like Hypurr (2x-2.5x), and holding yield tokens. Additional rewards come through the referral system, where users receive a 5% boost on their points, and early hwHYPE depositors qualify for an extra 2% of the total $HWAVE supply allocation.
Season 2 claim is now live and Wave points are now paused.
Latest Update: Hyperwave Season 2 $HWAVE Claim Now Live
Hyperwave has opened claims for Season 2 $HWAVE token distribution. Season 2 ended on November 20th, 2025.
How to Claim
Visit the claim portal to check your eligibility and claim your $HWAVE tokens. Lock tokens into GWAVE before December 6th 10:00 UTC to earn a share of the protocol revenue. 50% of $HWAVE buybacks will now be burnt to remove tokens permanently from circulating supply. The other 50% will be sent to the $GWAVE vault.
Season 2 Allocation Breakdown
The Season 2 distribution represents 8% of the total $HWAVE supply, divided as follows:
- General Participation: 7% of total supply
- Top Referrers: 1% of total supply
Ensure you claim your tokens through the official portal to secure your Season 1 allocation.
How to Participate in the Hyperwave Season 2 Airdrop (Expired)
Step-by-Step Guide
- Connect Your Wallet
- Visit the Hyperwave App
- Click “Connect Wallet” and select your preferred EVM wallet (MetaMask, WalletConnect, etc.)
- Ensure your wallet is connected to HyperEVM network
- Obtain Required Assets
- Use Referral Code
- Navigate to the referral section
- Enter the referral code: AIRDROPSIO to receive a 5% boost on your Wave Points
- Deposit into hwHLP Vault
- Go to the “Hyperwave HLP” section in the app
- Select your deposit amount in USDT0 or USDe
- Click “Mint” and confirm the transaction
- You’ll receive hwHLP tokens that automatically earn 1 Wave Point per token per day
- Optional: Deposit into hwHYPE Vault
- Navigate to “Hyperwave HYPE” section
- Deposit HYPE tokens to receive hwHYPE
- Earn 50 Wave Points per hwHYPE token per day
- Early depositors (first week) receive additional 2% $HWAVE allocation
- Maximize Points Through Integrations
- Use hwHLP in Pendle markets for 2x-2.5x point multipliers
- Provide liquidity in supported DEX pools for bonus multipliers
- Borrow against your positions on Hypurr or Hyperdrive for additional boosts
- Hold yield tokens (YT) on Pendle for extra rewards
- Monitor Your Progress
- Check your points balance in the Portfolio section
- Track your ranking on the leaderboard
Tips for Maximizing Airdrop Rewards
Deposit Early: Early participation maximizes point accumulation time.
Leverage Multipliers: Focus on activities that provide point multipliers. Pendle integrations offer some of the highest boosts at 2x-2.5x for certain activities like LP positions and yield token holding.
Combine Strategies: Hold both hwHLP and hwHYPE tokens to diversify point earning sources. The 50:1 point ratio for hwHYPE makes it particularly valuable for smaller capital allocations.
Utilize Referrals: The referral program provides a 5% permanent boost and shares in the top 100 referrer rewards (1% of total allocation). Building a referral network can significantly increase overall rewards.
Stay Engaged: Points continue accumulating beyond Season 1, suggesting ongoing reward opportunities. Maintaining positions may qualify for future seasons or additional allocations.
Consider Integration Opportunities: Beyond basic holding, explore lending, borrowing, and liquidity provision through integrated protocols for compound benefits and additional protocol rewards.
Understanding Key Terms
hwHLP: A liquid wrapper token representing exposure to Hyperliquid’s HLP vault, allowing users to earn yields from market making and liquidations while maintaining asset liquidity for DeFi applications.
hwHYPE: An automated vault token that deploys HYPE tokens across various lending protocols to generate optimized yields while passing through all earned points and rewards to depositors.
Wave Points: The reward system tracking user engagement with Hyperwave protocols, serving as the basis for future $HWAVE token distribution.
HyperEVM: Hyperliquid’s EVM-compatible layer that enables traditional DeFi integrations while accessing native Hyperliquid features and yields.
Multipliers: Bonus point rates applied to specific activities like liquidity provision, borrowing, or holding certain token types, ranging from 2x to 2.5x base rates.
You're interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!
Don't forget to follow us on Twitter, Telegram, & Facebook and subscribe our newsletter to receive new airdrops!Estimated Value
n/a
Tokens per Claim
n/a
Max. Participants
Unlimited
