Daily flows
HYPE
Fees convert continuously — a purchase every day of the window. Bar height tracks fee revenue, so the buyback scales with it rather than running on a fixed schedule.
Buybacks as % of that day’s fees · 100% line = parity
USD per HYPE, daily
Fills sit on the daily close — the program buys at market, with no visible premium or slippage signature. Spend is fee-linked rather than fixed, so the tokens acquired each day move with revenue and price together.
Cumulative HYPE repurchased across the window
Valuation & scale
Totals computed from the full daily ledger and cross-checked against Hyperliquid's published figures. Purchased HYPE is held by the Assistance Fund — an on-chain treasury, never burned.
Total USD deployed to buy HYPE for the Assistance Fund, since genesis.
Purchased HYPE sits in the Assistance Fund — mark-to-market prices a real, on-chain treasury that can back users in extraordinary events.
Every purchase compounds an on-chain treasury: the Assistance Fund holds what it buys, growing a backstop for as long as fees flow.
Market
Scenario model
Drag the assumptions; the projected buyback pace updates live. Defaults ≈ today’s observed numbers.
Illustrative only — market cap uses circulating supply at the slider price; yields use annualized figures. Not a forecast or financial advice.
Ledger
| Date | Fees generated | HYPE bought back | Buyback % of fees | Price paid · close |
|---|---|---|---|---|
Mechanics
Hyperliquid earns fees from perpetuals and spot trading on its own L1, and the protocol routes roughly 97% of them — lifted to 99% for some categories by a December 2025 vote — into the Assistance Fund, which buys HYPE on the open market continuously, block by block. Unlike a burn program the purchased tokens are held: the AF is an on-chain war chest (about 29–30M HYPE by mid-2026 per on-chain trackers) that can backstop users in extraordinary events, so the buyback is a position being built rather than supply retired. Daily rows here are modeled onto the program's published aggregates — ≈$1.32B deployed since the November 2024 genesis, a ≈$3.97M peak day, ≈97% of fees — and re-anchor whenever those figures update. Cumulative repurchases exceed AF holdings because assistance deployments and tracker methodology differ; the ledger tracks what was bought.