Hyperliquid Activates AQAv2 Framework for Recurring HYPE Buybacks and Burns

Hyperliquid has activated its AQAv2 framework to direct USDC reserve yield toward HYPE token buybacks and burns. This initiative will channel approximately 90% of the yield generated by the USDC reserves back to the protocol, with the remaining amount going towards other activities.

The framework began operating on August 26 and is designed to provide a structured process for using reserve yield to support recurring token buybacks and burns. The Assistance Fund will use the proceeds from the AQAv2 framework to purchase HYPE tokens from the markets before permanently removing them from circulation.

Circle serves as the technical deployer of the framework, while Coinbase is responsible for managing the treasury. The first payout and execution are scheduled for October 3, marking the beginning of the AQAv2's operating cycle.