The Hyperliquid Relief Fund has accumulated over 48 million HYPE tokens with a total investment of approximately $1.365 billion. The current market value of these holdings has risen to roughly $3.953 billion as the fund continues its buyback operations. The fund primarily utilizes protocol trading fee revenue to repurchase HYPE on the open market as a value return mechanism for token holders. Hyperliquid recently expanded this capital source through the AQAv2 framework, directing a portion of USDC reserve yield into the relief fund to diversify buyback funding beyond trading fees alone.