According to Digital Asset, Hyperliquid announced that it officially launched the USDC reserve yield accrual under the “AQAv2 (Aligned Quote Asset v2)” mechanism starting from August 26. The earned yield will be fully used to buy back and burn the native token HYPE in the secondary market. Under the AQAv2 rules, USDC on the platform is technically issued by Circle and managed by Coinbase as the treasury manager. After deducting operating costs, approximately 90% of the USDC reserve interest yield will be returned for shared benefit under the protocol, and—after a 30-day settlement cycle—will be automatically transferred to the protocol assistance fund (AF) to execute the HYPE buyback and permanent burn. The mechanism begins accruing on August 26. The initial tranche of proceeds is expected to complete the actual transfer and execution on October 3.