# Burn İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "Burn" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

Millisecond 'Pay-to-Cut': How Did Hyperliquid's Priority Fee Turn into a Multi-Million Dollar Business?

"Millisecond 'Paid Queue-Jumping': How Hyperliquid's Priority Fee Became a Multi-Million Dollar Annual Business" In traditional finance, high-frequency trading firms spend millions on infrastructure for millisecond advantages. Hyperliquid has translated this race onto the blockchain with its "Priority Fee" system, creating an open economic game for speed. This system auctions two types of priority: **Gossip Priority** for faster data feeds (via a Dutch auction every 3 minutes), and **Order Priority** for front-of-queue trade execution (users bid a fee for lower latency). This converts a hardware race into a transparent, market-priced mechanism. Since launch, this feature has generated over $5M in protocol revenue. Projected annualized buybacks from this income exceed $30M, accounting for ~7% of total protocol revenue. The demand stems from large traders and market makers on Hyperliquid, for whom milliseconds can mean the difference between profit/loss or avoiding liquidation. Market makers pay these fees as "protection" to ensure their orders execute first, which in turn improves liquidity for all users. Crucially, Hyperliquid internalizes Maximum Extractable Value (MEV) that typically leaks to external validators or searchers, creating a new revenue stream beyond trading fees. The mechanism also strengthens HYPE's tokenomics. While 97% of trading fees fund secondary market buybacks (via the Assistance Fund), Priority Fees are **directly burned**, adding a second deflationary engine. Furthermore, fees for order priority are deducted from users' undelegated HYPE balances, encouraging large traders to hold and lock up tokens, reducing circulating supply. However, a key challenge remains: balancing the speed needs of institutional players with fair market access for retail users, as those who cannot pay high fees may suffer worse slippage during volatility. In summary, Hyperliquid's Priority Fee is a novel model that monetizes latency, captures MEV for the protocol, and enhances its native token's value through burning and lock-ups.

marsbit2 gün önce 11:21

Millisecond 'Pay-to-Cut': How Did Hyperliquid's Priority Fee Turn into a Multi-Million Dollar Business?

marsbit2 gün önce 11:21

Reviewing 8 'Cash Cow' Projects in the Bear Market: The Leader Repurchased $283 Million Worth This Year

This article highlights eight cryptocurrency projects that have demonstrated strong cash-generating capabilities and implemented significant token buyback programs during the bear market of 2026. These projects, dubbed "cash cows," are repurchasing their own tokens, often reducing supply. According to data from Tokenomist, the projects with notable buyback activity from January 1st to June 30th are: Meteora (MET), Pump.fun (PUMP), GMX, Rollbit (RLB), Metaplex (MPLX), Hyperliquid (HYPE), Lighter (LIT), and Aave. Notably, MET's buybacks equaled 71% of its January token supply, while HYPE executed the largest buyback by value at $283 million. Key project summaries include: - **Hyperliquid (HYPE):** The leader by dollar value, its perpetual DEX protocol has repurchased and burned 44 million HYPE tokens (approx. 4.4% of supply) using a significant portion of trading fees, with total buybacks exceeding $1.1 billion since March 2025. - **Meteora (MET):** Its buyback of 336.2 million MET tokens had the greatest proportional impact on its circulating supply, equivalent to 71% of its supply at the start of the year. - **Pump.fun (PUMP):** The popular memecoin launchpad has cumulatively bought back over $400 million worth of PUMP since July 2025, using 50% of net revenue for buybacks and burns since April. - **Aave (AAVE):** Despite facing a major security incident earlier in the year, the lending protocol has continued its buyback program, repurchasing over 200,000 AAVE tokens. Its team is designing a new automated buyback mechanism. - **GMX, Lighter (LIT), Rollbit (RLB), and Metaplex (MPLX)** also have active buyback mechanisms funded by protocol fees or revenues. The article concludes that while token buybacks and burns do not guarantee price appreciation—as market conditions, news, and other factors play a role—these projects stand out for their ability to generate consistent cash flow in a challenging market environment.

marsbit07/06 11:55

Reviewing 8 'Cash Cow' Projects in the Bear Market: The Leader Repurchased $283 Million Worth This Year

marsbit07/06 11:55

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