> For the complete documentation index, see [llms.txt](https://docs.hyperhive.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hyperhive.finance/the-usdhive-token/usdhive-staking.md).

# $HIVE Staking

#### Pre-Liquidity HIVE

HIVE mined before the liquidity event is a real token balance, not a claim on one — a standard ERC-20, freely transferable from the moment it’s claimed. No lockup, no vesting on mined tokens, no conversion.

Mined HIVE can be carried straight through to the liquidity event, or staked for revenue share in the meantime.

#### Staking HIVE

Staked HIVE earns **USDC**. Staking opens before the liquidity event, so HIVE is producing cash flow before it has a market price.

**Early phase** — the payout is funded by a treasury subsidy, paid in USDC at a rate set by the protocol, so stakers earn from the first day the program opens.

**Steady state** — as revenue grows the subsidy steps down and the payout shifts to a share of the \[10]% performance fee the protocol charges on harvested vault yield.

#### Liquidity Event

At the liquidity event the protocol deploys the Liquidity & Market Making allocation into DEX pools on Hyperliquid and supports centralized exchange listings alongside them. HIVE becomes tradeable on both, with on-chain liquidity as the base venue and CEX listings extending reach to users who never touch a wallet.

This is a liquidity event, not a distribution event. The token is already minted, distributed, and transferable by then; what changes is that it gets a market and a price.

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