First USDC Yield Payment to HYPE Buyback Fund
Hyperliquid (HYPE) · Other · October 3, 2026
Hyperliquid's first AQAv2 USDC reserve-yield payment from Circle and Coinbase lands in the HYPE-buying Assistance Fund on October 3, 2026.
Hyperliquid makes the first payment under its Aligned Quote Asset v2 (AQAv2) deal on October 3, 2026. Under AQAv2, Coinbase acts as the USDC treasury deployer and Circle as the technical deployer; they share about 90% of the cost-adjusted reserve yield earned on Hyperliquid's USDC supply with the protocol, and each staked 500k HYPE. Yield began accruing on August 26 and is paid in 30-day intervals, sent automatically to the Assistance Fund 8 days after each interval closes. The Assistance Fund uses these proceeds to buy HYPE on the market, making this a new recurring source of HYPE buy pressure on top of trading-fee buybacks.