Hyperliquid AQAv2's first funding may be able to repurchase approximately 20 million USD HYPE

The first revenue from the Hyperliquid AQAv2 mechanism is expected to enter the Hyperliquid Assistance Fund on October 3, with the market anticipating that the initial fund size could reach approximately $20 million, which will be used to repurchase HYPE. AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May of this year, allowing stablecoins, including USDC, that are not exclusively issued by Hyperliquid to qualify as "Aligned."

According to public information, AQAv2 will return most of the stablecoin revenue to the Hyperliquid ecosystem, with 90% of the revenue allocated to the relevant mechanisms, and subsequently 100% used for the repurchase and destruction of HYPE tokens. Coinbase has been designated as the fund deployment party, while Circle is responsible for the technical deployment, and both parties will also stake HYPE to participate in the mechanism. Analysts expect that this mechanism could generate an additional repurchase pressure of approximately $135 million to $160 million in HYPE annually.