Hyperstable
Hyperstable Airdrop Structure
Instead of a typical retroactive drop, Hyperstable’s airdrop revolves around real-time incentives. A total of 21% of the PEG token supply is dedicated to rewarding users who mint USH. Participants earn 0.0125 PEG per USH minted per epoch — roughly translating to a 2.6% APR assuming a $20 million fully diluted valuation (FDV).
An additional 21% of PEG supply is reserved for referral rewards, granting 0.0025 PEG per USH minted by referred users (per epoch).
PEG emissions began with epoch 1 on May 15, 2025 (00:00 UTC) following the protocol’s launch on May 14.
How to Participate in the Hyperstable Airdrop
Step-by-Step Instructions:
- Get HYPE Tokens
Purchase HYPE from the Hyperliquid exchange. - Bridge to HyperEVM
Transfer your HYPE tokens to the HyperEVM network using the official bridge. - Convert HYPE to wHYPE
Use HyperSwap to swap HYPE for wHYPE, which is accepted as collateral. - Visit Hyperstable Platform
Connect your wallet to Hyperstable on the HyperEVM network. - Deposit Collateral
Go to the “Deposit” tab and supply your wHYPE tokens. - Mint USH
Navigate to “Mint” and enter how much USH you want to create. Ensure your collateral ratio stays above 150% to avoid liquidation. - Confirm Transaction
Review and approve the transaction in your wallet. - Claim PEG Rewards
PEG is distributed weekly. Visit the “Bonus” tab to claim your PEG — you can choose 25% liquid + 75% locked or 100% max-locked for governance. - Use Your Referral Code
Generate a referral link to invite others. You’ll earn extra PEG for their USH minting activity. - Lock PEG for vePEG (Optional)
Lock PEG to gain vePEG, which gives governance rights and a share of platform fees.
Understanding the Core Elements of Hyperstable
- USH: A decentralized stablecoin minted with wHYPE collateral.
- wHYPE: A wrapped version of HYPE used as collateral in Hyperstable.
- PEG: The governance and reward token. Earned by minting USH and referring others.
- vePEG: Locked PEG tokens that grant voting rights and revenue sharing.
- Health Factor: Safety indicator for loans. Must stay above 1.0 to avoid liquidation (1.5 = safe zone).
Risk Factors to Keep in Mind
- Liquidation Risk: If your Health Factor falls below 1.0, your position may be liquidated.
- Market Volatility: Price fluctuations in wHYPE affect your collateral value.
- Governance Changes: Protocol settings (interest rate, collateral ratio) may shift over time.
- Smart Contract Risk: As with any DeFi protocol, there’s always a possibility of bugs or exploits.
FAQs
What if I get liquidated?
If your Health Factor drops below 1.0, part of your wHYPE is sold to repay your USH debt — plus a penalty. Keep an eye on your position and add collateral as needed.
How do I repay USH?
Go to the “Burn” section, enter how much USH you want to repay, and confirm. Once your debt is cleared, you can withdraw your collateral.
Can I withdraw some collateral?
Yes, as long as the remaining collateral keeps your Health Factor above 1.5.
When do I receive PEG rewards?
PEG is distributed weekly. The first rewards started on May 22, 2025. Check the “Bonus” section to claim each week.
What about aPEG from Fjord?
Users who bought aPEG during the Fjord sale need to migrate from Arbitrum to HyperEVM. This requires gas on both chains. Full details are available in the official docs or via the Hyperstable Discord.
Final Thoughts
Hyperstable presents a compelling opportunity to earn by engaging with a decentralized stablecoin protocol. By minting USH, locking PEG, and referring others, you can accumulate PEG tokens while actively contributing to the ecosystem.
Launched on HyperEVM, the protocol combines a practical DeFi model with gamified incentives. Whether you’re here for passive income, governance participation, or simply exploring new chains, Hyperstable gives early users a clear path to earning rewards — with a fair system based on usage, not speculation.
Want more projects like this?
Check out our curated list of potential airdrop candidates — early-stage DeFi platforms with no token yet but a strong chance of rewarding their users in the future.
