Governance token concentration (Gini)

Hyperliquid's assessment for RD-F-047 — scored red on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

Hyper Foundation operates 5 validators with >50% of staked HYPE. Team HYPE allocation is ~23.8% of total supply (vesting). Foundation validators hold supermajority governance power. December 2025 USDH vote removed team HYPE from weighting — acknowledging concentration concern. Qualitative Gini assessment: extreme concentration at the validator level.

Sources #

URL
Hyperliquid removes Team HYPE from USDH votecryptobriefing team HYPE removalretrieved 2026-04-28
URL
Hyper Foundation operates 5 validators holding >50% staked HYPEmefai Feb 2026retrieved 2026-04-28

Methodology #

Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol hyperliquid factor RD-F-047 score red collected_at 2026-04-28 13:58:49