Petro D. | Research 🔜 token2049🇸🇬Update

@PDmytriiev

Jeff Yan's @chameleon_jeff answer to "stop buying back when the price is high" is that nobody at @HyperliquidX decides when to buy, and the first AQAv2 payment has now shown that in practice. In this clip he explains that @HyperliquidX has no discretionary buyback programme. Fees are converted to $HYPE and burned by logic built into the chain itself, the same way Ethereum burns its priority fees. The reserve yield from $USDC now goes through the same route as every trading fee. What happened to the first payment → $14.58M reached the Assistance Fund at 00:00 UTC on Oct. 4. → Over the next 42 hours the fund bought $16.9M of $HYPE, about 186K tokens at a $90.88 average, with no single fill above $10K. → Its $USDC balance is back to about $15K, so the whole payment was converted in roughly a day and a half. What it adds → AQAv2 is worth about $196M a year at today's balance and rate, which lifts buyback spend from $732M to $928M a year at the current pace. → The next payment is on track for about $16.1M on Nov. 2 and will be spent by the same rules. Full research on the deal, the revenue impact and the scenarios below.

Monday, October 5, 2026 at 05:48 PM UTC