Hyperliquid Activates AQAv2 Buyback Mechanism and Rolls Out HyperEVM Trading

Hyperliquid has had a busy week, marked by a series of updates that demonstrate its commitment to expanding and strengthening its token economics. One key development was the activation of the AQAv2 buyback mechanism on August 26.

This system leverages reserve yield from USDC held across the platform, routing it into programmatic purchases and burns. The protocol has confirmed that Circle handles the technical side while Coinbase manages the treasury.

According to estimates, this could generate between $135 million and $160 million in annualized revenue for HYPE buyback burn activity.