Purr

Purr (PURR) is a meme token built around a cat theme and launched as the first spot listing on the Hyperliquid Layer-1 blockchain. Its creators state explicitly that there is no planned utility for the token, meaning it does not claim to solve a technical problem or serve a specific user base beyond the Hyperliquid community that received it. It was distributed freely to holders of Hyperliquid points rather than sold.

PURR lives on the Hyperliquid L1 and HyperEVM ecosystem and carries no independent consensus mechanism of its own, as it is a token on an existing network. Of the one billion maximum supply, 500 million were airdropped proportionally to Hyperliquid points holders, and 400 million that were initially deployed as protocol liquidity under the HIP-2 standard have since been burned. The token has a deflationary mechanic: trading fees that are denominated in PURR are permanently burned, gradually reducing the circulating supply over time.

PURR does not generate a fee stream that flows to holders or a treasury; instead, any trading fees collected in PURR are burned, removing tokens from circulation rather than distributing revenue to anyone. This means the fee-based measures typically tracked on this site — such as protocol revenue or fee yield — are not applicable here. The circulating supply stands at approximately 594,968,081 tokens against a maximum supply of 1,000,000,000, giving a supply-versus-max ratio of roughly 59.50% at the current point in time, with the remainder accounted for by the previously burned 400 million tokens.