Hyperliquid Labs will begin unstaking $320 million worth of HYPE tokens today, with distribution to team members scheduled for October 7.

The entire amount is allocated for an OTC deal with an institutional investor

The project team does not plan to sell HYPE on the open market; the entire amount is designated for an over-the-counter transaction with an institutional buyer. According to the project, this approach is intended to limit potential sell pressure on the order book during the unlock. The identity of the buyer and the terms of the deal have not been disclosed.

The company announced the token release and distribution schedule in a statement.