Hyperliquid's HYPE Buyback Mechanism Activated Amid Whale Transfer and Expanded Trading Support

Hyperliquid's HYPE token has entered an active period following significant developments. The protocol introduced a new AQAv2 buyback and burn mechanism on August 26, which directs approximately 90% of yield generated from USDC reserves toward programmatic purchases of HYPE.

The purchased tokens are then burned, reducing the available supply. This mechanism uses stablecoin-derived revenue rather than newly issued tokens to fund HYPE buys. Circle is responsible for technical deployment while Coinbase manages the treasury function.

Unofficial estimates suggest that AQAv2 could generate between $135 million and $160 million in annualized revenue for HYPE buybacks and burns, based on current USDC reserves and prevailing yield rates.

PumpFun has also launched full HyperEVM trading support through its mobile application, allowing users to trade HyperEVM tokens directly against USDC without bridging assets. The listed trading fee is 0.1%.