PURR Description
Overview
Purr (PURR) is a meme token native to Hyperliquid L1 (HyperCore), also available as a bridged ERC-20 wrapper on HyperEVM.
It launched in April 2024 without a token sale and with no predefined protocol utility, functioning as a community-driven asset within the Hyperliquid ecosystem.
Value Proposition
Purr (PURR) was the first native spot token issued under Hyperliquid's HIP-1 standard, distinguishing it from tokens launched through conventional presales or venture-capital rounds.
It launched with no team or investor allocation, distributing tokens directly to existing Hyperliquid ecosystem points holders. Holders of PURR are automatically eligible to receive new spot and meme tokens subsequently created on the Hyperliquid network, an airdrop-eligibility benefit tied to holding the token itself.
Token Basics
Purr (PURR) functions as a community meme token rather than a governance or fee-paying utility token, without staking, collateral, or on-chain voting mechanisms.
Its principal practical use for holders is airdrop eligibility: holding PURR automatically qualifies a wallet to receive new spot and meme tokens later created on the Hyperliquid network.
Tokenomics
Purr (PURR) has a maximum and total supply of 1,000,000,000 tokens, of which approximately 595.34 million (about 59.5%) are currently in circulation.
- 500 million tokens (50% of max supply) were distributed proportionally to existing Hyperliquid ecosystem points holders.
- 400 million tokens initially committed to the Hyperliquidity (HIP-2) automated liquidity-provisioning mechanism were subsequently burned.
The burn represents a one-time deflationary event rather than an ongoing emission schedule.
Launch & Funding
Purr (PURR) launched in April 2024 as the first HIP-1 native spot token on Hyperliquid L1, through a fair launch with no ICO, presale, or venture-capital funding round.
Of its 1 billion maximum supply, 500 million tokens were distributed proportionally to holders of existing Hyperliquid ecosystem points, while 400 million tokens originally earmarked for the Hyperliquidity (HIP-2) liquidity mechanism were later burned. No fundraising amount is associated with the launch.
Blockchain & Consensus
Purr (PURR) is issued natively on Hyperliquid L1 (HyperCore) as a HIP-1 spot token and is also available as a bridged ERC-20 wrapper on HyperEVM, Hyperliquid's EVM-compatible execution environment.
HyperCore and HyperEVM operate as components of the same Hyperliquid L1, with the EVM layer providing smart-contract compatibility alongside HyperCore's native spot and derivatives infrastructure.
Issuing Organization
Purr (PURR) was deployed permissionlessly through Hyperliquid's open HIP-1 token-creation standard rather than by a company or foundation.
It should not be confused with Hyperliquid Strategies Inc., an unrelated Nasdaq-listed company that trades under the same ticker.
Security
Purr (PURR) is characterized as a community meme coin with no predefined utility, with its market activity driven primarily by community sentiment rather than protocol-level demand or usage.
It trades roughly 84% below its December 16, 2024 all-time high of $0.69, reflecting significant price volatility associated with tokens that lack dedicated utility.
Frequently Asked Questions
What is Purr (PURR)?
Purr (PURR) is a meme token native to Hyperliquid L1 (HyperCore), launched in April 2024 as the first HIP-1 spot token on that chain. It has no predefined protocol utility and is also available as a bridged ERC-20 wrapper on HyperEVM.
Is the crypto token PURR the same as the Nasdaq stock ticker PURR?
No. The crypto token Purr (PURR) on Hyperliquid L1 is unrelated to Hyperliquid Strategies Inc., a Nasdaq-listed crypto-treasury company that trades under the same ticker and holds HYPE tokens on its balance sheet. They are separate assets from different issuers.
What blockchain does Purr (PURR) run on?
Purr (PURR) is issued natively as a HIP-1 spot token on Hyperliquid L1, running on the HyperCore layer of that chain. It is also available as a bridged ERC-20 wrapper on HyperEVM, Hyperliquid's EVM-compatible execution environment, allowing it to interact with EVM-based smart contracts and applications.
Who created Purr (PURR)?
Purr (PURR)'s creator and development team have never been publicly disclosed; sources consistently describe it as an anonymously launched, community-created meme token. It carries no announced founders, advisors, or venture-capital backers, consistent with a fair-launch distribution that included no team or investor allocation of its supply.
Did Purr (PURR) have an ICO or presale?
No. Purr (PURR) launched in April 2024 without a token sale, presale, or venture-capital funding round. Half of its 1 billion maximum supply was distributed to existing Hyperliquid ecosystem points holders, and 400 million tokens originally reserved for liquidity provisioning were later burned.
What is Purr (PURR)'s maximum supply?
Purr (PURR) has a fixed maximum and total supply of 1,000,000,000 tokens, established through its April 2024 launch with 500 million distributed to Hyperliquid points holders and 400 million originally allocated to liquidity provisioning later burned. Approximately 595.34 million tokens, or about 59.5% of the maximum, are currently in circulation.
Does Purr (PURR) have any utility?
Purr (PURR) has no predefined protocol utility such as staking, fee payment, or on-chain governance voting; it functions primarily as a community meme token. Its main practical benefit is that holders are automatically eligible to receive new spot and meme tokens later created on the Hyperliquid network, an airdrop-eligibility perk.
What is Purr (PURR)'s market cap and price?
Purr (PURR) currently trades near $0.108, with a market capitalization of approximately $64.3-64.7 million and a circulating supply of about 595.34 million tokens out of a 1 billion maximum supply. This price is roughly 84% below its all-time high of $0.69, reached on December 16, 2024.
