Binance customers can now trade the brand new native altcoin of a permissionless interoperability protocol.

The top global crypto exchange airdropped Hyperlane (HYPER) to qualified users this week and then listed the asset for trading on Tuesday.

HYPER is the 15th project launched via Binance’s HODler Airdrops program, which rewards BNB holders with tokens based on historical snapshots of their balances.

Hyperlane bills itself as an interoperability protocol for cross-chain communication across different blockchain environments.

“Hyperlane is the first permissionless interoperability layer that allows smart contract developers to send arbitrary data between blockchains.

Developers can use Hyperlane to move tokens, execute function calls, and many other things that allow for the creation of interchain applications, apps that can be accessed by users on any blockchain.”

The project aims to enable message passing and asset transfers between chains without the need for centralized intermediaries.

HYPER is trading at $0.2695 at time of writing and is up nearly 6% in its first day of trading.

Binance attached a seed tag to HYPER. The exchange applies seed tags to lower-liquidity projects that could exhibit higher volatility compared to other listed tokens, and it requires users who want to trade assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/KHIUS/Vladimir Sazonov