Hyperliquid Foundation proposes burning all HYPE in its Assistance Fund

The Hyperliquid Foundation has introduced a governance proposal to permanently burn all HYPE tokens held in its Assistance Fund (AF) and has opened the matter to a validator vote. Validators must declare their stance on the governance forum by 4:00 a.m. UTC on Dec. 21. The final outcome will be determined by the weight of user staking aligned with each validator's position. The fund currently holds 37.114 million HYPE, valued at $1.02 billion and representing 13.7% of the token's total supply.