buyback engine removes 14% supply yearly, but volume risk is real.
Hyperliquid is a genuine cash machine with a buyback engine that removes 14% of circulating supply annually, but the mechanism is volume-dependent and buybacks have declined 39% in two quarters.
Hyperliquid's buyback mechanism is a powerful cash machine, having executed over $1.3 billion in buybacks. However, buybacks fell from $316.76M to $192.25M over two quarters while price rose, revealing the engine's vulnerability to volume drops.
"Why Big Money Is Rushing Into Hyperliquid"