In the crypto assets market, the continuous rise in token value often stems from the economic model design behind it. Recently, the performance of HYPE Token has drawn widespread follow, as the price rise is underpinned by a meticulously designed deflationary mechanism.

The Hyperliquid platform adopts an innovative 'automatic buyback fund' model. This mechanism uses the daily transaction fee revenue generated by the platform to directly repurchase HYPE Tokens from the open market and destroy them. According to the latest data, the protocol has cumulatively destroyed approximately 26 million HYPE Tokens, with a market value exceeding $1.2 billion. Even more notably, the annual buyback fund scale is expected to reach as much as $1 billion.

This design cleverly transforms the platform's business growth directly into deflationary pressure on the Token, creating a virtuous cycle: as trading volume increases, the strength of buybacks also increases, which in turn drives up the Token price, potentially attracting more users to participate in trading, thereby further increasing fee revenue. This mechanism has been described by some analysts as the 'bull perpetual motion machine' in the Crypto Assets space.

In contrast, the operational strategy of the WLD project appears to be relatively conservative. Currently, the project team of WLD seems to mainly focus on the Token release process, while other aspects of innovation or value creation activities are relatively limited. This difference in strategy may be one of the key factors leading to the divergent market performance of the two projects.

Although the repurchase and destruction mechanism of HYPE seems more attractive in the short term, in the long run, the project's sustainable development, technological innovation, and value in practical application scenarios are the fundamental factors that determine the fate of the Token. When investors follow these Tokens, they should not only consider short-term price trends but also conduct in-depth research on the project's fundamentals and long-term development strategy.