Hyperliquid (HYPE) Burns Nearly 5% of Token Supply as Lifetime Revenue Hits $1.38 Billion

Decentralized platform Hyperliquid has permanently removed 49.87 million native HYPE tokens from circulation, which amounts to almost 5% of its maximum supply of 1 billion units. On-chain monitoring confirms that the combined fiat value of the destroyed assets has reached $3.89 billion at the current market rate. The supply reduction happens automatically: the protocol converts fee revenue into continuous token buybacks from the open market as the platform's historical revenue has surpassed the $1.38 billion mark. The mechanism relies on the Assistance Fund, a system smart contract without private keys, whose balance was officially recognized as burned in December 2025 by a decision of 85% of the network's validators. Between 97% and 99% of the exchange's trading fees are directed here.