COINOTAG News, citing official sources on December 26, reports that the Hyperliquid Foundation has officially burned HYPE tokens from the Reserve Fund System address, equaling 11.068% of the circulating supply.
The accompanying governance vote leveraged a stake-weight based mechanism; results showed 85% of staked votes in favor of the burn, with 7% against and 8% abstaining.
This action underscores tokenomics discipline and governance transparency, as the burn reduces available supply and demonstrates a commitment to long-term value, aligning holder interests and market expectations.
Source: https://en.coinotag.com/breakingnews/hype-token-burn-by-hyperliquid-foundation-removes-11-068-of-circulating-supply-in-85-stake-weighted-governance-vote
