Bitwise CIO: HYPE's value capture is clear with 99% of fees used for buybacks

Bitwise CIO Matt Hougan said on X that Hyperliquid's (HYPE) business model is very easy to explain to financial advisors. He noted that the project's value capture structure is clear, as it uses 99% of its generated fees for token buybacks. Hougan added that after discussing the matter with financial advisors on several occasions, he found explaining Hyperliquid to be remarkably simple.