HYPE tokenomics: supply, float, unlocks & buyback
Understanding HYPE's supply dynamics is essential to valuing it. Here is the full picture — max supply, circulating float, the monthly unlock schedule, and the Assistance Fund buyback — with the live numbers BuyHype tracks.
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Supply and float
HYPE has a max supply of 1,000,000,000 tokens. Circulating float is relatively low (~23%), so a large share is not yet liquid — which amplifies both upside on demand and overhang risk as tokens vest. Fully-diluted valuation (FDV) is therefore much higher than market cap; BuyHype shows both live.
The HYPE unlock schedule
Core-contributor and team allocations unlock on a published monthly cadence — the 6th of each month. The theoretical monthly ceiling is sizable, but actual distributions are discretionary and have historically been smaller. Upcoming unlocks are HYPE's main supply overhang, which is why BuyHype surfaces the next unlock date prominently.
The Assistance Fund buyback (the demand side)
Against that supply, Hyperliquid's Assistance Fund uses protocol revenue to continuously buy HYPE back from the market on-chain — now ~4%+ of total supply, and growing with usage. It is verifiable on-chain, and BuyHype reads the live balance, weighing supply (unlocks) against demand (the buyback) in its verdict.
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