According to CoinMeta, the Hyperliquid ( HYPE ) platform has permanently destroyed nearly 49.87 million native HYPE tokens, which accounts for about 5% of its maximum supply of 1 billion tokens. Based on on-chain monitoring, the total fiat value of the destroyed assets has reached $3.89 billion. The platform's historical revenue has exceeded $1.38 billion, and its destruction mechanism relies on a support fund that converts fee income into continuous token repurchases. In the past 24 hours, this mechanism destroyed 19,700 HYPE tokens (approximately $1.59 million), while the daily protocol fees amount to $1.69 million.