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The reported payment shows that Hyperliquid’s AQAv2 reserve-income arrangement has started producing funds but it does not, by itself, show that $14.58 million of HYPE has already been bought or burned.
Crypto Briefing reported on October 3 that the first payment was awaiting transfer to Hyperliquid’s Assistance Fund. The next stages remain important: the USDC must reach that fund, be used through the protocol’s buyback process, and result in HYPE being removed from circulation.
- Reserve income is paid in USDC.
- The Assistance Fund receives the funds under the AQAv2 schedule.
- HYPE purchases and burns are separate on-chain events.
AQAv2 gives Hyperliquid a second source of funding
Hyperliquid’s established buyback engine is tied to trading activity. Its fee documentation says the Assistance Fund automatically converts trading fees into HYPE, which is then burned. Higher trading volume can there...
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