According to BlockBeats, on August 26, the first proceeds from the Hyperliquid AQAv2 mechanism are expected to enter the Hyperliquid aid fund on October 3. The market anticipates that the initial funding may reach approximately $20 million, which will be used to repurchase HYPE.
AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May of this year, which allows stablecoins, including USDC, that are not exclusively issued by Hyperliquid to obtain "Aligned" status.
According to publicly available information, AQAv2 will return the majority of its stablecoin rewards to the Hyperliquid ecosystem, with 90% of the rewards allocated to relevant mechanisms, and subsequently 100% used to buy back and burn HYPE tokens. Coinbase has been designated as the funding provider, and Circle is responsible for the technical deployment. Both parties will also stake HYPE to participate in the mechanism.
Analysts predict that this mechanism could add approximately $135 million to $160 million in HYPE buyback pressure annually.