Overview

• A proposal from Jon Charbonneau and Hasu would burn roughly 31 million HYPE in the Assistance Fund and revoke authorization for about 421 million unminted rewards, cutting the authorized supply from 1 billion to roughly 550 million.
• The plan removes the hard cap and would permit any future issuance only through governance-approved mechanisms such as staking emissions or community programs.
• Circulating supply near 45 million would be unchanged, which backers say avoids dilution while lowering the fully diluted valuation estimate from about $47 billion to $25 billion at current prices.
• The measure is under community discussion with no announced timeline for a governance vote.
• HYPE has pulled back roughly 21–22% from its Sept. 18 all-time high to the mid-$40s as spot volume rose and derivatives signaled mixed positioning, while reactions range from institutional support to warnings about reduced growth incentives.