According to @KookCapitalLLC, HLP APY is up to 17%, source: X post by @KookCapitalLLC on Aug 14, 2025. According to @KookCapitalLLC, exchange revenue rises sharply during volatility and 97% of Hyperliquid revenue is allocated to HYPE buybacks, implying mechanically higher buy pressure and a strong backstop for HYPE in turbulent markets, source: X post by @KookCapitalLLC on Aug 14, 2025. According to @KookCapitalLLC, this revenue-to-buyback linkage is directly trading-relevant for timing exposure to HYPE around volatility regimes and for monitoring yield on HLP, source: X post by @KookCapitalLLC on Aug 14, 2025.