HYPE Tokenomics: Supply, Burn vs Staking Rewards

Last updated: 2026-08-25Last reviewed: 2026-08-25

Direct answerCurrent

How many HYPE tokens are circulating?

The official Hyperliquid API reports 298,692,875 HYPE in circulating supply, or 29.87% of the one-billion maximum. The same read reports 998,990,777 HYPE in total supply. Validator stake and the assistance-fund balance appear as separate overlays because they can overlap the API's circulating and non-circulating classifications.

Official API ledger

Live HYPE supply

Supply read Aug 26, 2026, 5:06 AM UTC

Maximum supply: 1B HYPE; Protocol token definition
Reported total supply: 998.99M HYPE; 99.90% of maximum
Circulating supply: 298.69M HYPE; 29.87% of maximum
Outside circulating field: 700.3M HYPE; Includes reserves and other non-circulating balances

Circulating 29.87%Outside circulation 70.03%Below maximum 0.10%

Overlays, not extra segments

Staked and burned HYPE need separate labels

Do not subtract these rows from circulating supply. Validator stake can include balances outside the circulating field, and the API classifies the assistance-fund balance outside circulation.

Delegated to validatorsCurrent

436.14M HYPE

43.66% of reported total supply

The validatorSummaries endpoint reports stake in 1e-8 HYPE units. HypeBasis converts those atomic units before summing validators.

Read Aug 26, 2026, 5:06 AM UTC

Inspect the source data

Assistance-fund HYPECurrent

46.78M HYPE

4.68% of maximum supply

Hyperliquid's fee docs classify HYPE at the assistance-fund address as burned. The official supply API still exposes its own total-supply field, so this page does not subtract the balance a second time.

Read Aug 26, 2026, 5:06 AM UTC

Inspect the source data

Observed burn vs modeled rewards

Does the HYPE burn exceed staking rewards?

Compare seven complete daily assistance-fund balance intervals with gross staking rewards modeled from current validator stake and the official reward-rate relationship.

7D complete

Across seven complete UTC intervals through Aug 25, 2026, the burn-classified assistance-fund balance increased by 313.09K HYPE. At current validator stake, the official rate relationship models 189.84K HYPE in gross staking rewards across the same period. Observed burn was 123.25K HYPE larger in this narrow comparison.

Observed burn · 7D: 313.09K HYPE; Official assistance-fund balance change
Modeled gross rewards · 7D: 189.84K HYPE; 2.27% annual rate at current stake
Burn minus modeled rewards: +123.25K HYPE; 1.65× burn-to-rewards ratio

Observed burn313.09K HYPE

Modeled gross staking rewards189.84K HYPE

This is not net HYPE inflation or deflation. It excludes contributor releases, grants, other reserve emissions, HyperEVM gas burns, and any supply reclassification. Validator commission only reallocates staking rewards, so the model uses gross rewards before commission.

Burn mechanics: Hyperliquid fee documentation. Reward formula and reserve: Hyperliquid staking documentation. Latest saved burn capture Aug 25, 2026, 7:17 AM UTC.

Inspect daily burn history Model your staking scenario

Unlock answer

When is the next HYPE token unlock?

Hyperliquid's public API and docs do not publish a complete dated contributor-release calendar. HypeBasis does not show a countdown. Third-party calendars can model vesting, but their circulating figures and event sizes can disagree with the live official API.

Inspect the source-by-source unlock tracker

Scheduled: A calendar or model says tokens may become available.
Transferred: An onchain balance moved. The transfer does not reveal a sale.
Circulating: The official supply endpoint includes the tokens in its circulating field.

Genesis allocation

Reported HYPE token allocation

A 21Shares SEC filing reports the allocation below. Treat it as static allocation context. Use the official API figures above for current supply.

Future emissions and rewards: Reserve for emissions and community rewards; no complete dated public schedule.; 38.888%; 388.88M HYPE
Genesis distribution: Reported genesis airdrop allocation.; 31%; 310M HYPE
Core contributors: Reported contributor allocation; allocation does not equal tokens sold or circulating.; 23.8%; 238M HYPE
Hyper Foundation: Reported foundation budget allocation.; 6%; 60M HYPE
Community grants: Reported community grant allocation.; 0.3%; 3M HYPE
HIP-2 liquidity: Reported Hyperliquidity allocation.; 0.012%; 120K HYPE

Continue your HYPE research

Live HYPE market brief

Price, funding, open interest, execution, visible TWAPs, and public positions.

HYPE holder distribution

Inspect indexed spot balances, system accounts, concentration, and 24-hour to 30-day changes.

HYPE unlock evidence

Compare official current supply, observed daily changes, and separately labeled calendar models.

Revenue and burn history

Compare fee and revenue estimates with the official assistance-fund balance series.

HYPE valuation calculator

Compare circulating or maximum-supply token value with complete revenue windows.

Validator stake

Inspect current validators, stake share, commission, activity, and source time.

HYPE whale tracker

Compare raw public positions with verified same-account spot offsets and entity-adjusted exposure.

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Risk notice

Crypto perpetuals and leveraged trading are high risk. You can lose money through liquidation, funding, slippage, oracle issues, protocol failures, and market volatility.

Sources

Hyperliquid Docs: Spot info endpointAccessed 2026-08-24
Supports: Public spot token metadata, asset-context price and supply fields, tokenDetails maximum-supply definitions, and spotClearinghouseState balances.
Hyperliquid Docs: FeesAccessed 2026-08-25
Supports: Rolling 14-day volume tiers, perps and spot fee schedules, strict HYPE staking-tier thresholds and discounts, referral fee formula and limits, staking-account linking risks, fee-model caveats, fee distribution to HLP, the assistance fund, and deployers, the assistance fund system address, and burn recognition of assistance-fund HYPE.
Hyperliquid Docs: StakingAccessed 2026-08-25
Supports: The approximate 2.37% yearly reward rate at 400M HYPE staked, inverse-square-root rate relationship, rewards from the future-emissions reserve, daily distribution and compounding, validator commission, one-day delegation lock, seven-day staking-to-spot queue, and jailing behavior.
Hyperliquid node README: Validator endpointsAccessed 2026-08-20
Supports: Primary validator endpoint discovery for timestamped validator rows and unavailable-state handling.
21Shares HYPE ETF filing: reported token allocationAccessed 2026-08-24
Supports: A third-party SEC filing's reported one-billion HYPE maximum and genesis allocation percentages. It does not replace the official API for current supply or prove a dated release calendar.