After a tumultuous month of price action, Hyperliquid’s HYPE token is getting some relief on the back of a new incentivized staking mechanism, which offers stakers discounts on platform fees. HYPE is up 14% over the last 24 hours, and 6% since the announcement. The tiered staking system’s initial benefit will be reduced trading fees, which are set to be updated on or after April 30. Traders can save between 5% and 40% on their fees, depending on the amount of HYPE staked. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io