The Hyperliquid development team address began the unstaking process 8 hours earlier, with the tokens set to unlock after a 7-day pending period, according to on-chain analyst Ember.
HyperLabs, a Hyperliquid development team address identified as 0x43e...251, has started unstaking 433,000 HYPE valued at $23.45 million. The move was flagged by on-chain analyst Ember, who said the unstaking request was initiated 8 hours earlier. The HYPE tokens will complete unstaking after a 7-day pending period, a delay mechanism commonly used in staking (locking tokens to support a network or protocol) systems before assets become transferable again.