The confirmed points timeline
The first official points program began on 1 November 2023 and distributed points weekly for six months, ending on 1 May 2024. A later L1 phase began on 29 May 2024 and ended in November 2024.
The listed dates describe completed programs. Historical eligibility does not establish a current season, and old screenshots or community labels are not protocol terms.
| Program | Documented period | Status |
|---|---|---|
| Original points | 1 Nov 2023–1 May 2024 | Ended |
| L1 points phase | 29 May 2024–Nov 2024 | Ended |
Future rewards remain unconfirmed
The official points page explains past distributions and the protocol’s discretion over criteria. It does not guarantee another points season, a reward formula or another token distribution.
Pages that estimate hidden scores or advertise guaranteed eligibility are third-party speculation unless Hyperliquid publishes corresponding terms. Do not treat a wallet dashboard estimate as a claim on future value.
Referral rewards are a different program
The current referral system is documented separately. A referred trader can receive a 4% discount on eligible fees for the first $25M of volume. Under the current terms, the referrer can receive a share of eligible fees.
Referral attribution does not prove a points balance or airdrop allocation. Keep fee economics, historical points and rumored future rewards in separate calculations.
Treat unconfirmed rewards as speculation
Fees, spreads, funding, gas, bridge risk and token exposure are real costs. If an activity is not worthwhile without an airdrop, a rumored reward does not make the expected value knowable.
Use Hyperliquid products for their documented function, verify current terms in the official app and assume no future distribution unless primary sources state otherwise.