Hyperliquid Activates AQAv2 to Fuel Massive HYPE Buybacks
Hyperliquid has activated its Aligned Quote Asset v2 (AQAv2) framework to buy back and burn HYPE tokens using USDC reserve yields.
This move creates a second buyback route alongside the existing trading fee-driven program, with 90% of yields generated from USDC reserves directed towards the Assistance Fund for buybacks and burns.
Coinbase will serve as the treasury deployer, while Circle acts as the technical deployer. Both companies previously staked HYPE to activate the mechanism.
The initial allocation could support roughly $20 million in HYPE buybacks, with market estimates placing potential annual contributions in the $135-200 million range depending on USDC reserves and prevailing yields.
This development comes as HYPE price rallied after President Trump confirmed the CFTC's efforts to bring Hyperliquid into the US, pushing it just 1.4% away from hitting its all-time high of $83.27.