Hyperliquid’s Assistance Fund has cumulatively bought more than 48 million HYPE tokens for $1.36 billion, according to the source. It valued those holdings at about $3.95 billion as of an undated Tuesday. The fund primarily uses Hyperliquid trading fees for open-market purchases, and tokens bought through this mechanism are treated as burned and removed from supply.
Hyperliquid also activated a framework to fund HYPE buybacks and burns with yields from USDC reserves. The source says nearly $14.58 million in USDC was routed to the fund in early October. Its estimate of hundreds of millions of dollars in additional annual buyback capacity depends on reserve size and yields; it is not a reported result.
