Hyperliquid Buys Back Tokens with Circle Reserve Income
Hyperliquid, a global decentralized exchange, is taking a step to increase liquidity in its own token. The company will use income from Circle's USDC reserves to buy back and burn its tokens.
The AQAv2 framework, which Hyperliquid applied on August 26, directs income from reserve assets allocated under its agreement with Coinbase into Hyperliquid buybacks.
Starting August 26, Hyperliquid will receive reserve income from Circle. The first token buyback and burn is scheduled for October 3.