Hyperliquid AQAv2’s first tranche of funds could repurchase approximately $20 million worth of HYPE.
2026.08.26 01:16:23
The first revenue from Hyperliquid’s AQAv2 mechanism is expected to flow into the Hyperliquid Aid Fund on October 3, with market projections putting the initial funding at around $20 million, which will be used to repurchase HYPE tokens. AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May this year, allowing stablecoins not exclusively issued by Hyperliquid—including USDC—to obtain the "Aligned" qualification. Per public details, AQAv2 returns the majority of stablecoin revenues to the Hyperliquid ecosystem: 90% of these revenues are allocated to relevant mechanisms, and 100% of that sum is subsequently used to repurchase and burn HYPE tokens. Coinbase has been named the fund deployment partner, while Circle handles technical deployment; both firms will also stake HYPE to participate in the mechanism. Analysts forecast the mechanism will generate an additional $135 million to $160 million in annual HYPE repurchase pressure.
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