One of the first notable projects building on top of Hyperliquid is launching their token this week: > $HWAVE by @Hyperwavefi Took the time to analyze the LBP ahead of the TGE as there's quite an amount of buzz around it (first of its kind on Hyperliquid): • The token is tied to a protocol actually building yield + infra on HyperEVM. • HWAVE connects directly to the protocol’s revenue via a Loyalty Fund model (revenues used to buy & distribute HWAVE to stakers). • Unlocks look cleaner than most: public sale & early community allocations unlock fully at TGE, while team, Swell DAO, & foundation have 12–36mo cliffs/vests. Still, worth remembering: LBPs can swing hard both ways, and liquidity incentives don’t guarantee sustainable value. But from an ecosystem perspective, it’s a milestone moment. Curious to see how the market prices this and how the Loyalty Fund performs once revenue actually starts flowing.