Key Takeaways Hyperliquid’s AQAv2 upgrade is now live and was approved by 69.08% of validators. The mechanism directs 90% of yield on roughly $5 billion in USDC toward HYPE buybacks. The Hyperliquid Assistance Fund has already spent about $1.1 billion acquiring 45.07 million HYPE. What AQAv2 Does Hyperliquid’s validators approved the AQAv2, or “Aligned Quote Asset v2,” framework with 69.08% support. It extends an “aligned” status to stablecoins used on Hyperliquid that aren’t exclusive to the platform, starting with USDC, and directs roughly 90% of the reserve yield those assets generate back to the protocol after cost adjustments. With an …