Hyperwave said it will gradually wind down its yield-vault protocol because of rising operating costs and regulatory uncertainty. According to BlockBeats’ November 11, 2026 report, the protocol is scheduled to close on December 16, 2026.
All vaults, including GWAVE, have moved to withdrawals-only mode. Users can unstake at any time, and Hyperwave recommends withdrawing before the closure date to complete withdrawals more quickly. The vaults will continue to generate yield while funds are converted into underlying assets in preparation for withdrawals.
After closure, any remaining net asset value (NAV) will be returned to wallets holding vault tokens. Separately, Hyperwave said 100% of revenue generated before closure will be used to buy back and burn HWAVE. These are different token roles: vault tokens identify wallets eligible for any remaining NAV, while HWAVE is the token named in the buyback-and-burn plan. The announcement does not promise a return to HWAVE holders.
Hyperwave also warned users to watch for phishing links during the shutdown and said questions about the process can be directed to its official support team through Discord or the app.
Original report: BlockBeats, November 11, 2026, 18:44 (UTC+8).