Hyperliquid Revenue and HYPE Buybacks
What Hyperliquid earns in trading fees each day and how much HYPE the Assistance Fund buys with them, from HyperCore fills and balances.
HyperliquidTable · StrataPlanned
Crypto Token Buybacks Ranked by Amount Spent
Which crypto protocols spend the most on token buybacks, and how much of their supply have they bought?
Which protocols spend the most buying back or burning their own tokens, what pays for it and what share of supply the purchases remove.
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Blueprint
What the table will hold.
The table as it will open in Strata. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.
One row One row per protocol per token, over the last 30 and 365 daysSorted by Spent, 365 days, highest first
| Protocol | Token | Chain | Method | Funded by | Spent, 30 daysUSD | Spent, 365 daysUSD | Tokens bought, 365 daystokens | Burned, 365 daystokens | Share of supply bought | Receipt |
|---|---|---|---|---|---|---|---|---|---|---|
- Protocol protocol Text
- The protocol running the buyback, linked to its registry entry and sources.
- Token token Token
- The token it buys back, linked to its contract.
- Chain chain Chain
- The chain where the purchases settle.
- Method method Text
- What happens to the tokens bought, as the protocol's own rules define it: burned, held in a treasury or distributed to stakers.
- Funded by funded_by Text
- What pays for the buybacks: trading fees, other protocol revenue or treasury funds.
- Spent, 30 days spent_30d Exact amount
- Value of buyback purchases over the last 30 days, from the paired leg of each fill.
- Spent, 365 days spent_365d Exact amount
- Value of buyback purchases over the last 365 days.
- Tokens bought, 365 days tokens_bought_365d Exact amount
- Tokens received by buyback addresses over the last 365 days.
- Burned, 365 days burned_365d Exact amount
- Tokens sent to burn addresses over the last 365 days.
- Share of supply bought supply_share_365d Percent
- Tokens bought over the last 365 days as a share of totalSupply() at the period's first block.
- Receipt receipt Link
- The fills, transfers and supply reads behind the row.
Filter by Chain, Method, Funded by.
About
What it answers, and for whom.
A token buyback is a protocol using its revenue to buy its own token on the market, then holding, burning or distributing what it bought. This table ranks protocols by how much they spend on buybacks, measured from the purchases themselves: the swaps and order-book fills made by each protocol's published buyback addresses.
Beside the amount spent, each row shows the tokens bought, how many were burned and what share of the token's supply the buybacks removed over the period. Supply share is the fairer comparison, since a small protocol can retire more of its token than a large one that spends more.
Every amount is cited to its transactions, so a reader can open the fills behind any row. A buyback that a protocol announces but that does not appear on-chain is not counted until it does.
Method
How it will be measured.
Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.
How receipts work →- Each protocol's buyback, treasury and burn addresses come from its own documentation or governance decisions, recorded with their source in a registry.
- Purchases are swap fills in which a registry address receives the protocol's token: Uniswap v3 and v4 Swap events, Solana AMM swap instructions and HyperCore fills, valued from the stablecoin or ETH leg of each fill.
- Burns are transfers of the token to the zero address or a known burn address; tokens still held after a purchase count as bought, not burned.
- Share of supply is the tokens bought over the period divided by totalSupply() at the period's first block.
- The periods are the last 30 days and the last 365 days, each summed from daily totals; every row's receipt names its fills.
The data it needs
Read from chain state and history
- protocol_revenue_dailyTo buildProtocol fees, revenue and buybacksFees users paid to each protocol and the part kept by the protocol or its token holders, per protocol and day, including buybacks.
- dex_swaps_dailyTo buildDEX volumeSwap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices.
- token_supply_dailyTo buildToken supply by dayTotal supply of each registry token on each chain at day end: wrapped BTC, liquid staking tokens, tokenized assets and other tracked tokens.
- address_labelsTo buildAddress labelsLabels for known addresses: exchanges, bridges, protocols, funds, treasuries, sanctioned addresses and known attackers.
- A registry of each protocol's published buyback, treasury and burn addresses, with sources
- DEX swap fills where the buyer is a buyback address: Uniswap v3 and v4 Swap events and Solana AMM swap instructions
- HyperCore fills by the Hyperliquid Assistance Fund
- ERC-20 and SPL Transfer logs into burn addresses
- totalSupply() at daily blocks, for buybacks as a share of supply
- The USD value of each fill from its paired stablecoin leg
Questions
Questions people ask.
What is a token buyback?
A protocol spends revenue or treasury funds to buy its own token on the open market. It may then burn the tokens, hold them in a treasury or pass them to stakers. The effect on supply depends on which of those it does.
Which protocols run token buybacks?
Several protocols fund buybacks from their fees, among them Hyperliquid through its Assistance Fund and pump.fun with a share of its revenue. The table lists every protocol whose buyback addresses are in the registry, ranked by the spend found on-chain.
Is a buyback the same as a burn?
No. A burn removes tokens from supply for good; a buyback only moves tokens from the market to the protocol. Bought tokens can be burned, held, distributed or later sold, so the table shows bought and burned amounts separately.
What is real yield in crypto?
Real yield usually means returns paid from a protocol's actual revenue rather than from new token issuance. Buybacks are one way to pass revenue to token holders, and the protocol revenue ranking shows the revenue side.
Why rank by share of supply as well as spend?
Spend favors large protocols. Share of supply shows how much of the token a buyback actually takes off the market, which is what matters for a holder's stake.
- Buyback
- A protocol purchasing its own token on the market with revenue or treasury funds.
- Buyback and burn
- A buyback whose purchased tokens are sent to an address no one controls, removing them from supply.
- Burn address
- An address with no usable private key, such as the zero address, from which tokens sent can never move again.
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