"We believe this is currently the strongest token economic structure in crypto." That's how we described HYPE's tokenomics in our latest Hyperliquid Q2 update. Here's why. @HyperliquidX used 96.7% of user fees over the last 90 days to buy back HYPE. Those buybacks repurchased 2.5M HYPE, more than the 2.4M HYPE issued to validators. The result: -145.4K net issuance. Hyperliquid is increasingly letting network activity do the work of securing the network, instead of relying on inflation the way most crypto networks do. That's the "strongest" part. But does it alone justify hyperliquid:native 's current valuation? In our latest report, We break down whether Hyperliquid's tokenomics are enough to justify that and where HYPE actually sits relative to our fair value range. See the link below to access the (free) report.👇