Hyper Foundation proposes permanent destruction of HYPE tokens in the Assistance Fund

According to TechFlow, on December 17, Hyper Foundation officially proposed a validator vote to confirm that the HYPE tokens in the Assistance Fund are considered burned, which will permanently remove these tokens from circulation and total supply. As part of the L1 execution, the Assistance Fund automatically converts transaction fees into HYPE through the system address 0xfefefefefefefefefefefefefefefefefefefefefe. This address is similar to a zero address and has never had a private key; the funds within cannot be retrieved without a hard fork.

A "Yes" vote means validators agree to consider the HYPE in the Assistance Fund as burned and commit to never authorizing any protocol upgrade that could access this address. The vote will take place on the governance forum until 04:00 UTC on December 21, and users can stake in support of validators aligned with their views until 04:00 UTC on December 24. The final result will be based on the stake-weighted consensus as of that time.