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Burn history
Burning means sending tokens to an address they can never leave. The coins stay visible on-chain but permanently exit circulation, and total supply decreases. On Hyperliquid the HYPE collected as fees is burned.
What this means and what it does not. Burning reduces supply — with demand unchanged that pushes price up. On its own it guarantees nothing: if demand falls faster than supply burns, price falls with it. What matters is the rate: how much burns per week relative to what is in circulation.
Frequently asked questions
How is HYPE burned?
Part of Hyperliquid's trading fees goes to the Assistance Fund, which buys HYPE on the market every day. The fund's tokens are treated as removed from circulation, so its balance is the amount burned.
How much HYPE is bought back per day?
It depends on trading volume: the more the exchange earns in fees, the more HYPE the fund buys. The chart on this page shows daily purchases.
Does burning raise the HYPE price?
Buybacks create constant demand and shrink circulating supply, but the price also depends on the market, token unlocks and sales by large holders.