Kairos Research(@Kairos_Res):The USDH deployer just sent 138,252 USDC to the Hyperliquid Assistance Fund, its largest transfer to the AF to date, and its first ever in USDC For context, under the new AQAv2, the USDC deployers share ~90% of cost-adjusted reserve yield with the protocol, routed to the AF and auto-converted to HYPE. Hyperliquid said that revenue share begins accruing Aug 26, with the first payment Oct 3 So this one landed ~4 months early. Onchain it traces back through a new conduit to the Circle AQAv2 reserve. To us, this appears as an early test of the rails rather than a full activation hyperliquid:native

2026.06.15 15:22

The USDH deployer just sent 138,252 USDC to the Hyperliquid Assistance Fund, its largest transfer to the AF to date, and its first ever in USDC For context, under the new AQAv2, the USDC deployers share ~90% of cost-adjusted reserve yield with the protocol, routed to the AF and auto-converted to HYPE. Hyperliquid said that revenue share begins accruing Aug 26, with the first payment Oct 3 So this one landed ~4 months early. Onchain it traces back through a new conduit to the Circle AQAv2 reserve. To us, this appears as an early test of the rails rather than a full activation hyperliquid:native