Purr (PURR) is a deflationary memecoin launched on the Hyperliquid L1 blockchain. It was introduced as the first token for spot trading on the platform, with a maximum supply of 1 billion tokens. Of this, 500 million PURR were distributed proportionally to points holders, and 400 million tokens, initially deployed as Hyperliquidity (HIP-2), were burned. Trading fees paid in PURR are burned, reducing the token’s supply over time.

Purr (PURR) is used within the Hyperliquid L1 ecosystem as part of its spot trading infrastructure. As a memecoin, it primarily serves to engage the community and incentivise interaction with the platform. Trading fees paid in PURR are burned, aligning with its deflationary design and contributing to its role within Hyperliquid’s trading operations.

Purr (PURR) was created by the team behind Hyperliquid, a decentralised trading platform offering spot and perpetual markets on the Hyperliquid L1 blockchain. The Hyperliquid team consists of professionals with expertise in quantitative trading, blockchain technology, and decentralised finance, leveraging their experience to develop innovative trading solutions.