HYPE · the Hyperliquid token

Supply and scarcity, the Assistance Fund buyback flywheel, protocol revenue, burn and staking.

HYPE——

Returns to holders

What the fund bought each day against the revenue that funds it

Buyback vs Revenue

daily

Bought back

$0.00

on-chain fills

Revenue

$0.00

same days

Payout

—

of revenue repurchased

HYPE taken

—

off the market

Bought back
Protocol revenue

Bars: Assistance Fund fills · line: our six-source revenue·Totals cover only the days both feeds report, so the payout ratio compares like with like.

Supply & Scarcity

How the 1B genesis HYPE splits today · allocation & vesting

Supply & Scarcity

max 1B HYPE

Loading supply…

Max supply—

Total supply—

Circulating—

Future emissions—

Assistance Fund—

Burned—

Source: Hyperliquid info · tokenDetails (live)

Genesis Distribution

TGE 2024-11-29

Allocation · 1B HYPE at genesis31% airdropped to users

Genesis airdrop310.0M HYPE31%

Airdropped 2024-11-29 to Season 1–2 points earners — one of the largest in crypto. Fully community-directed.

Future emissions & rewardslocked388.9M HYPE38.888%

Reserve for ongoing emissions, future seasons, liquidity and builder incentives. Largely undistributed.

Core contributorslocked238.0M HYPE23.8%

1-year cliff post-genesis, then linear vesting to ~2027–2028. Monthly unlocks on the 6th.

Hyper Foundationlocked60.0M HYPE6%

Foundation operating budget for ecosystem development.

Community grants3.0M HYPE0.3%

Ecosystem and community grant programs.

HIP-2 (Hyperliquidity)120.0K HYPE0.012%

On-chain automated liquidity provisioning seeded at genesis.

Source: Hyperliquid tokenomics docs · no VC / CEX allocation

Buyback & Burn

Assistance Fund holdings and cost basis · HYPE removed from supply

Assistance Fund

0xfefe…felive on-chain

Holdings

—

Market value

—

Cost basis

—

Unrealized PnL

—

Share of float

—

of circulating

Out of float

—

AF + burned

Buyback ratefrom the fund's HYPE buys

Per day

—

≈ —

Per week

—

≈ —

Per month

—

≈ —

Annualized —Lifetime spend —

Daily buyback · 0d (USD)

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Recent buys

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Trading fees

—/day

Assistance Fund

~99% routed

HYPE buyback

≈—/day

Out of float

held · burned

Scarcity ↑

The Assistance Fund is an L1 system address with no private key. The protocol routes the large majority (~97–99%) of net perp and spot trading fees to it, and it continuously buys HYPE on the open market — every figure above is aggregated from its actual on-chain buy fills. HYPE that lands there cannot be withdrawn, so more volume means more buybacks and a tighter float.

Source: Hyperliquid info · AF fills & balance (live, on-chain)

Burn & Deflation

permanent

Burned

—

max − total supply

Burned value

—

AF out of float

—

Assistance Fund buyback

~99% of net perp + spot fees buy HYPE that lands in a keyless address — permanently out of float. The dominant deflation force.

HyperEVM gas

Base gas on HyperEVM is paid in HYPE and burned — every lending, staking and DeFi transaction nets supply down.

Spot trading fees

Spot fees not routed to the AF or token deployers are burned at the protocol level.

Order priority

Traders pay up to 8 bps of notional in HYPE to rank higher in the execution queue. Charged from undelegated stake and burned, whether or not a resting order fills.

Gossip priority

Two Dutch auctions on a three-minute cycle sell faster market-data reads. Each resets at ten times its last winning bid, floors at 0.1 HYPE, and the winning bid is burned from spot balance.

Burned = on-chain max − total supply·AF holdings shown as removed from float

Staking

HYPE locked in proof-of-stake

Staking & Security

0.00 HYPE stakedAll validators

HYPE staked

0.00 HYPE

locked in PoS

Staked value

—

% staked

—

of total supply

Stakers

—

Validators

—