The Hyper Foundation proposes to consider the HYPE held by the Aid Fund as burned, permanently removed from circulation and total supply
BlockBeats News, December 17th, the Hyper Foundation posted on social media proposing a validator vote to formally acknowledge that the Aid Fund HYPE has been burned and these tokens will be permanently removed from circulation and total supply.
As background, the Aid Fund automatically converted transaction fees to HYPE during the L1 execution process. Similar to a burn address, the Aid Fund's system address has never had a private key controlling its funds. Unless there is a hard fork, the funds are theoretically unrecoverable.
A "yes" vote indicates that validators agree to burn the Aid Fund HYPE tokens. Since these tokens have existed in a system address without a private key, no on-chain action is required. This vote constitutes a binding social consensus that will never authorize any protocol upgrade to access this address.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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