HyperLiquid Upgrades to AQAv2 Mechanism with 1:9 USDC Auto-Balancing Between Contract and Treasury

According to PANews on June 12, HyperLiquid upgraded to AQAv2 mechanism, which automatically maintains a 1:9 USDC balance ratio between contract and treasury addresses through on-chain transactions executed within each HyperEVM block.

Under the new revenue model, stablecoin issuers must distribute approximately 90% of cost-adjusted reserve earnings generated within Hyperliquid to the protocol. Revenue accumulates on a 30-day cycle and is transferred automatically to the Assistance Fund on the eighth day after each cycle ends. The mechanism enters implementation with revenue accrual beginning August 26 and first payment scheduled for October 3.