HYPE
The native asset of Hyperliquid — supply and scarcity, the Assistance Fund buyback flywheel, protocol revenue, burn and staking.
Overview
Live price, valuation & headline supplyPrice
—— 30DSupply & Scarcity
How the 1B genesis HYPE splits today · allocation & vestingSupply & Scarcity
max 1B HYPEGenesis Distribution
TGE 2024-11-29Airdropped 2024-11-29 to Season 1–2 points earners — one of the largest in crypto. Fully community-directed.
Reserve for ongoing emissions, future seasons, liquidity and builder incentives. Largely undistributed.
1-year cliff post-genesis, then linear vesting to ~2027–2028. Monthly unlocks on the 6th.
Foundation operating budget for ecosystem development.
Ecosystem and community grant programs.
On-chain automated liquidity provisioning seeded at genesis.
The Buyback Flywheel
Assistance Fund holdings, cost basis & estimated buyback per day / week / monthAssistance Fund
0xfefe…felive on-chainThe 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 HYPE that lands there cannot be withdrawn, so more volume means more buybacks and a tighter float.
Revenue & Burn
Protocol fees that fund the buyback · HYPE removed from supplyProtocol Revenue
buyback fuelBurn & Deflation
permanent~99% of net perp + spot fees buy HYPE that lands in a keyless address — permanently out of float. The dominant deflation force.
Base gas on HyperEVM is paid in HYPE and burned — every lending, staking and DeFi transaction nets supply down.
Spot fees not routed to the AF or token deployers are burned at the protocol level.
HyperCore priority fees, paid in HYPE from undelegated stake, are burned immediately.