Hyperliquid’s AQAv2 mechanism is expected to send its first batch of revenue to the Hyperliquid Assistance Fund on Oct. 3, with the market estimating the initial amount at roughly $20 million. That capital is expected to be used for HYPE buybacks. AQAv2, short for Aligned Quote Asset v2, was introduced by Hyperliquid in May as a stablecoin framework that allows stablecoins not exclusively issued by Hyperliquid, including USDC, to obtain "Aligned" status. Public information indicates that most of the revenue generated by the stablecoin mechanism will flow back into the Hyperliquid ecosystem. Under the structure, 90% of revenue is allocated to the relevant mechanism, and then 100% of that amount is used to buy back and burn HYPE tokens. Coinbase has been designated as the fund deployment party, while Circle is responsible for technical deployment. Both companies will also stake HYPE to participate in the mechanism. Market watchers cited in the report expect the mechanism to add about $135 million to $160 million in annual HYPE buyback demand.
Hyperliquid’s AQAv2 mechanism is expected to deliver its first revenue inflow to the Hyperliquid Assistance Fund on Oct. 3, with the market estimating the first batch at about $20 million. The funds are expected to be used to buy back HYPE, according to BlockBeats.
First AQAv2 revenue expected on Oct. 3
The report said the first revenue generated by AQAv2, or Aligned Quote Asset v2, is expected to enter the Hyperliquid Assistance Fund on Oct. 3. Market expectations put the size of that initial inflow at roughly $20 million, which would then be used for HYPE buybacks.
How the AQAv2 structure works
Hyperliquid introduced AQAv2 in May this year as a stablecoin mechanism. It allows stablecoins that are not exclusively issued by Hyperliquid, including USD Coin (USDC), to obtain "Aligned" status.
Based on public information cited in the report, most of the revenue produced by the stablecoin mechanism is returned to the Hyperliquid ecosystem. Of that revenue, 90% is allocated to the relevant mechanism, and 100% of that allocation is then used to buy back and burn HYPE tokens.
Coinbase and Circle roles
Coinbase has been designated as the party responsible for fund deployment, while Circle is in charge of technical deployment. Both companies will also stake HYPE to take part in the mechanism.
People cited as analysts in the report expect AQAv2 to add about $135 million to $160 million in annual HYPE buyback demand.
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