Hyperliquid has generated about $14.58 million in USDC yield for HYPE token buybacks, with the first payout under its AQAv2 framework set to transfer to the Assistance Fund. The mechanism directs about 90% of cost-adjusted net yield from USDC reserves to buy and burn HYPE, adding a funding source separate from trading fees and trading volume. Validators approved AQAv2 with 69.08% support on June 12, 2026, and yield began accruing on August 26. Reserves estimated at $5 billion to $6.7 billion could generate $135 million to $200 million in annual buyback funding at yields of about 3%, compared with estimated fee-funded capacity of around $771 million. Market pricing puts a 68% probability on HYPE reaching $100 by year-end 2026.