Hyperliquid AQAv2 Estimated Annual Revenue of $193 Million

Hyperliquid (HYPE) is estimated to generate an annual revenue of $193 million related to AQAv2. On a daily basis, this translates to approximately $527,000 that could be linked to HYPE's recovery funds. Mackenna Arete, a partner at Capital Management, estimated the yield and annual revenue based on the flow of the USDC balance in the Hyperliquid AQAv2 wallet. The scale of USDC related to AQAv2 is approximately $6.21 billion, and applying a 30-day SOFR of 3.65%, the AQA yield is calculated to be about 3.10%. Assuming that about 90% of this flows into the assistance fund, a potential recovery pressure of $193 million annually and $527,000 daily is generated. AQAv2 is structured to channel stablecoin reserve earnings into the assistance fund, which is used as HYPE's recovery resource. This estimate is calculated based on the current USDC balance and interest rate conditions, and the actual inflow may vary depending on balance fluctuations, applicable interest rates, and cost adjustment methods. AQAv2 revenue will be accounted for starting August 26, with the first payment scheduled for October 3 to the assistance fund.

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