Hyperliquid has officially activated its AQAv2 (Aligned Quote Asset v2) program, dedicating approximately 90 % of the yields generated by its USDC stablecoin reserves to the purchase and burning of HYPE tokens. The platform has already burned 46.8 million HYPE tokens, representing roughly 4.7 % of its initial maximum supply. Trading activity on HyperCore currently generates over one billion dollars in annualized fees allocated to programmatic HYPE buybacks through its Assistance Fund. According to estimates, AQAv2 could generate between 135 and 160 million dollars in annualized revenue aimed at reducing the circulating token supply, though this amount depends on the volume of USDC deposited on Hyperliquid and the actual yield of the reserves.
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