On-chain data from COINOTAG confirms the Hyperliquid Assistance Fund holds 37.114 million HYPE, valued at about $1.02 billion and representing roughly 13.7% of the circulating HYPE supply. With a total supply of 1 billion tokens, this stake informs liquidity dynamics and governance weight in the Hyperliquid ecosystem. Current metrics show a market capitalization near $7.406 billion and a FDV around $27.35 billion.

The Hyper Foundation has proposed a validator vote to formally acknowledge that the HYPE held by the Assistance Fund has been burned, permanently removing these tokens from circulation and from total supply. If approved, the burn would tighten the on-chain supply, reinforcing scarcity signals without altering the project's fundamental cash flows.

Analysts view the burn proposal as a tangible shift in on-chain supply and governance dynamics, given the fund’s material stake.