$HYPE buybacks just got another revenue source. @HyperliquidX found a way to generate buyback revenue from the USDC on its platform without needing more trading volume. It comes through AQAv2, basically a new revenue-sharing setup for stablecoins on Hyperliquid. For USDC, roughly 90% of the reserve yield left after costs will go back to the protocol. That money goes to the Assistance Fund, Hyperliquid’s automated fund that buys HYPE and burns it. For HYPE holders, this adds a second source of buyback demand that scales with USDC balances. Not many crypto projects use a setup like this. @SuiNetwork also uses stablecoin yield for buybacks, but the purchased SUI goes back into the ecosystem. Hyperliquid burns the HYPE instead. Higher.