Hyperliquid Assistance Fund Buyback and Burn Tops $1.3 Billion

The scale of this burn is the notable part: it shows a protocol directing revenue into permanent supply reduction rather than staking rewards or treasury accumulation, a structure that ties token scarcity to actual trading activity. The mechanism is only as durable as the revenue feeding it, so the open question is whether buyback volume keeps pace if activity cools. For comparable revenue-funded models, this sets a benchmark worth tracking.