According to CoinMeta, Hyperliquid announced that the first earnings from its AQAv2 mechanism are expected to be deposited into the Hyperliquid support fund on October 3rd. The market estimates that the initial amount of funds could reach around 20 million US dollars, which will be used to repurchase HYPE tokens. AQAv2 ( Aligned Quote Asset v2 ) is a stablecoin mechanism announced by Hyperliquid in May this year, allowing stablecoins not exclusively issued by Hyperliquid, including USDC, to qualify as “aligned”. Based on public information, AQAv2 reinvests a large portion of the stablecoin earnings back into the Hyperliquid ecosystem, with 90% of those earnings allocated to the relevant mechanism, and subsequently all of it is used for repurchasing and destroying HYPE tokens. Coinbase has been designated as the fund deployer, while Circle is responsible for technical implementation; both parties will also stake HYPE to participate in this mechanism. Analysts expect that this mechanism could generate an additional repurchase pressure of about 135 million to 160 million US dollars per year for HYPE tokens.