Around 4% of Hyperliquid’s token supply went unclaimed in the first airdrop. Those tokens were moved into the bucket labeled “future emissions and community rewards.” They were originally allocated for distribution via airdrop. Changing the accounting label does not change the intent. And it does not just say future emissions. It explicitly says ”COMMUNITY REWARDS“. If there was truly no plan to distribute them, that term would not exist. Simple as that. Since Alpha season, there has never been a period without points, official or hidden. Some people try to convince themselves that there won’t be another airdrop. In reality, the allocation is still there, the purpose is still there, and the mechanism to reward participation remains intact. I still believe we will see more Hyperliquid airdrops in the future. It is the most straightforward interpretation of how these tokens are categorized. If I were them, I’d wait for BLP on mainnet, do a retroactive airdrop, then launch a new season. Long-term users get rewarded, and $HYPE becomes collateral rather than sell pressure.

February 18th marks exactly one year since the HyperEVM launch. Some people say the airdrop could land around February 17–18, aligning with Chinese New Year. The core thesis is that Hypurr wears a traditional Chinese clothing in one of Hyperliquid posts.

Zoom in on the Hypurr with the laptop in front of the departing plane and you will notice binary code reflected in his glasses. As pointed out by @CaramelCoffee8 @ @TomCryptoDefi, flip the image since it’s a reflection and translate the binary code 👀 ;]7; → 17th.