Hyperliquid CEO Says HYPE Tokens are “Effectively Burned”
Hyper Foundation has permanently removed 37.5 million HYPE tokens from circulation, valued at approximately $912 million, following validator approval. The burn eliminates tokens from the Assistance Fund, reducing fully diluted valuation and tightening supply metrics.
David Schamis, CEO of Hyperliquid, emphasized the community's role in providing "explicit clarity" through the governance vote, which passed with 85% support. The tokens were held in a system address without a private key, rendering them mathematically inaccessible but previously included in supply figures.
ETF filings linked to HYPE highlight growing institutional interest despite recent price volatility. The MOVE underscores Hyperliquid's commitment to transparent supply dynamics as the protocol matures.
