Hyperliquid Activates AQAv2 Framework for HYPE Buyback Revenue

Hyperliquid has activated its AQAv2 framework, which directs about 90% of yield earned from USDC reserves into the Assistance Fund for HYPE buybacks and burns. This new revenue engine will run on cycles of approximately 30 to 38 days, providing a recurring source of demand for HYPE tokens.

The first AQAv2 payout is scheduled for October 3, with over $5 billion in USDC reserves potentially generating around $135 million to $160 million in annualized yield. This adds to the existing revenue streams generated by Hyperliquid's trading fees, which could reach up to $950 million annually.

HYPE tokens have already seen significant buyback activity since their launch in November 2024, with approximately 462 million HYPE tokens worth around $1.27 billion being burned so far.