Tag:

USDH

Usdh Becomes First Permissionless Quote Asset On Hyperliquid
GameFi Guides

USDH Becomes First Permissionless Quote Asset on Hyperliquid

by admin



Hyperliquid, a decentralized trading platform active in DeFi, has launched its permissionless spot quote asset feature on the mainnet. 

With this feature, any asset can now be used as a quote asset, letting users and projects set up new trading pairs through Dutch auctions. The update introduces additional flexibility to trading and enhances the platform’s decentralization.

USDH Becomes the First Permissionless Quote Asset

The stablecoin USDH is the first asset to gain permissionless quote status. Native Markets deployed USDH, and the HYPE/USDH trading pair is now live. Hyperliquid has confirmed that more trading pairs will follow in the future, giving users and projects the opportunity to experiment with different base and quote asset combinations.

How Permissionless Spot Quote Assets Work

Under this new feature, deployers of stable assets can enable their tokens to act as quote assets, provided they meet the on-chain requirements detailed in Hyperliquid’s documentation. Once an asset has quote status, it can be used in the first spot pair of any HIP-1 deployment.

New trading pairs using existing base and quote assets can also be set up through permissionless Dutch auctions. These auctions run separately from HIP-1 token auctions, allowing new trading pairs to be added without affecting current token distributions. This makes setting up multiple pairs simpler and more organized.

Greater Flexibility for Traders and Projects

The permissionless system gives users more freedom to move beyond preset quote assets and create new trading opportunities. By allowing any eligible asset to serve as a quote, Hyperliquid gives users more control over pair creation and trading experimentation. The Dutch auction mechanism ensures that new pairs are deployed transparently and fairly.

With USDH now live as the first permissionless quote asset, the HYPE/USDH pair has already started trading. Hyperliquid expects more permissionless pair deployments in the coming months. This move shows Hyperliquid’s focus on decentralization and innovation, while giving traders more flexibility in the fast-changing crypto market.

Also Read: Bitwise Files to Launch Hyperliquid ETF with HYPE Token



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
Crypto Trends

Native Markets Secures USDH Ticker Following Hyperliquid Governance Vote

by admin



In brief

  • The startup beat out Paxos, Ethena, and others, with validators and prediction markets pushing odds to above 90% before the vote.
  • Native Markets’ proposal splits reserve yield between Hyperliquid’s Assistance Fund and growth, with reserves managed via Bridge, BlackRock, and Superstate.
  • The next test for USDH would be whether it could break the dominance of USDC and USDT, Decrypt was told.

Native Markets was awarded the USDH stablecoin ticker on Sunday, following a governance vote among Hyperliquid validators.

The newly formed firm edged out established bidders after prediction markets and validator commitments swung heavily in its favor, capping one of the most closely watched governance decisions in crypto this year.

Ethena, once considered a strong challenger, withdrew from the race on Thursday. The firm cited feedback from validators and community members questioning whether its proposal, anchored in its existing non-native infrastructure, met the spirit of the competition.



Its exit further pushed prediction odds on Myriad for Native Markets above 90% and effectively cleared the path, with Paxos left trailing despite revising its proposal midweek.

Disclosure: Myriad Markets is owned by Decrypt’s parent company Dastan.

Despite the broad concurrence, the voting process drew criticism.

Observers argued the compressed request-for-proposals timeline, combined with validator ties to existing Hyperliquid infrastructure, tilted the playing field in favor of Native Markets.

Max Fiege, founder of Native Markets, outlined a phased rollout in a statement on Sunday.

The first step will be the introduction of a Hyperliquid Improvement Proposal, after which mints and redeems of USDH will begin in a controlled trial.

Early participants will be capped at about $800 per transaction to stress-test the system. Once initial checks are complete, the USDH/USDC spot order book will open on Hyperliquid, followed by full minting and redemption functionality for all users.

With Native Market securing the USDH ticker, the closely watched governance vote “cements Hyperliquid as a fast-growing ecosystem” but also shows the “intensifying stablecoin competition,” Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

Governance-led moves and fresh liquidity being poured into Hyperliquid show that “stablecoins remain central to crypto’s next phase of global adoption,” Liu added.

Native Markets had been the frontrunner throughout the contest. Its proposal emphasized a native alignment with Hyperliquid: cash reserves and U.S. Treasuries managed by BlackRock off-chain.

Tokenized reserves, meanwhile, will be handled on-chain by Superstate through Bridge, Stripe’s stablecoin infrastructure provider.

The team also pledged to split all reserve yield equally between Hyperliquid’s Assistance Fund and ecosystem growth.

Backers include operators and investors with track records at Uniswap Labs, Paradigm, and Polychain. These elements, combined with early validator endorsements from groups such as CMI Trading, gave Native Markets a decisive advantage.

Still, USDH’s biggest test will be “breaking through the dominance of USDC and USDT, where adoption and liquidity remain king,” Liu noted.

“Transparency around reserves and strong, unified governance will be vital to win lasting trust,” with its future prospects highly dependent “on proving it can compete while maintaining stability,” he added.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Bitcoin Image
Crypto Trends

Native Markets Wins Right to Issue USDH

by admin



Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Hyperliquid’s validator community has chosen Native Markets to issue USDH, ending a weeklong contest that drew proposals from Paxos, Frax, Sky (ex-MakerDAO), Agora, and others.

Native Markets, co-founded by former Uniswap Labs president MC Lader, researcher Anish Agnihotri, and early Hyperliquid backer Max Fiege, said it will begin rolling out USDH “within days,” according to a post by Fiege on X.

Native Markets has been awarded the USDH ticker on Hyperliquid.

Thank you to all HYPE stakers and network validators for their time and effort in reviewing the proposals put forward.

— max.hl (@fiege_max) September 14, 2025

According to onchain trackers, Native Markets’ proposal took approximately 70% of validators’ votes, while Paxos took 20%, and Ethena came in at 3.2%.

The staged launch starts with capped mints and redemptions, followed by a USDH/USDC spot pair before caps are lifted.

USDH is designed to challenge Circle’s USDC, which currently dominates Hyperliquid with nearly $6 billion in deposits, or about 7.5% of its supply. USDC and other stablecoins will remain supported if they meet liquidity and HYPE staking requirements.

Most rival bidders had promised to channel stablecoin yields back to the ecosystem with Paxos via HYPE buybacks, Frax through direct user yield, and Sky with a 4.85% savings rate plus a $25 million “Genesis Star” project.

Native Markets’ pitch instead stressed credibility, trading experience, and validator alignment.

Market Movement

BTC: BTC has recently reclaimed the $115,000 level, helped by inflows into ETFs, easing U.S. inflation data, and growing expectations for interest rate cuts. Also, technical momentum is picking up, though resistance sits around $116,000, according to CoinDesk’s market insights bot.

ETH: ETH is trading above $4600. The price is being buoyed by strong ETF inflows.

Gold: Gold continues to trade near record highs as traders eye dollar weakness on expected Fed rate cuts.

Elsewhere in Crypto:

  • Pakistan’s crypto regulator invites crypto firms to get licensed, serve 40 million local users (The Block)
  • Inside the IRS’s Expanding Surveillance of Crypto Investors (Decrypt)
  • Massachusetts State Attorney General Alleges Kalshi Violating Sports Gambling Laws (CoinDesk)





Source link

0 comments
0 FacebookTwitterPinterestEmail
Ethena-Hyperliquid
GameFi Guides

Ethena Drops USDH Hyperliquid Bid to Focus on Product Innovation

by admin



Ethena Labs has abruptly pulled its bid to launch the USDH stablecoin, responding to mounting backlash and concerns about its wider goals. This decision comes just days before an important vote, giving validators a chance to rethink their choices and support other projects instead.

In his X post, founder Guy Young acknowledged community criticism and congratulated Native Markets on gaining validator support.

“Ethena is not a Hyperliquid native team, we have other product lines outside of USDH, and our ambitions extend beyond working with just one partner exchange,” Young said. He emphasized that concerns were valid and that Ethena respected the pushback.

The last few days have been incredible to witness. I’ve never seen a community rally around and engage with passion like this before.

Following direct discussions with individuals in the community and validators we have taken onboard some of the concerns, namely:

-Ethena is not…

— G | Ethena (@gdog97_) September 11, 2025

Focus Shifts to Product Innovation

Despite all this, Ethena is determined to ramp up its product development. The Founder Guy Young said that the team will be zeroing in on new offerings.  Some of them are hUSDe synthetic dollars, USDe-powered savings tools, and cutting-edge HIP-3 market designs.

These include reward-bearing trading collateral, modular prime broking, and perpetual swaps on equities. Young highlighted that their excitement lies in building solutions that expand crypto’s utility.

Moreover, Arthur Hayes, co-founder of Maelstrom’s crypto investment fund, has been increasing his stake in Ethena. According to Arkham data, Hayes purchased nearly $1 million worth of ENA tokens within 48 hours. 

This included 578,956 ENA tokens valued at $473,000 on September 11 and an earlier tranche worth $521,000. His buying spree comes ahead of Sunday’s critical vote on the USDH proposal.

As of writing, Ethena is trading at $0.767120, which shows a 2.86% decrease in the last 24 hours. The trading volume is still robust at $704.54 million, according to CoinMarketCap. 


Ethena’s withdrawal reshapes Hyperliquid’s stablecoin while Arthur Hayes’ bold ENA purchases show continued belief in Ethena’s long-term vision.

Also Read: BIT Mining Boosts Solana Holdings Ahead of Potential Year-End Rally





Source link

0 comments
0 FacebookTwitterPinterestEmail
(https://www.usdhtracker.xyz/)
NFT Gaming

Native Markets Leads Early Voting for Hyperliquid’s USDH Stablecoin Contract

by admin



Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

The first signs of how validators are leaning in Hyperliquid’s hotly contested stablecoin vote are in, and the Stripe-aligned Native Markets team has an early lead.

(https://www.usdhtracker.xyz/)

As of Thursday morning Hong Kong time, Native Markets has secured 30.8% of the delegated stake, led by heavyweight validators infinitefield.xyz (13.5%) and Alphaticks (5.2%).

Paxos Labs, the New York–regulated issuer behind PayPal’s PYUSD, sits at 7.6% with backing from B-Harvest and HyBridge. Ethena has picked up 4.5%, while Agora, Frax, and Sky, despite splashy proposals, have yet to attract meaningful support, though many of the most prominent validators have yet to cast their virtual vote.

The bigger picture: more than half of stake, 57%, remains unassigned.

That block includes some of the most influential validators on Hyperliquid, such as Nansen x HypurrCollective (the single largest validator with over 18%) and Galaxy Digital. Where they ultimately land will decide whether Native Markets’ early momentum carries through to the September 14 deadline.

Native Markets is pitching a Hyperliquid-native stablecoin issued via Stripe’s Bridge infrastructure, promising yield-sharing to the Assistance Fund and HYPE buybacks.

But prominent voices, including Agora CEO Nick van Eck, warn that Stripe’s simultaneous push to launch its Tempo blockchain and its control of wallet provider Privy could create conflicts.

Despite those criticisms, some validators appear to view Stripe’s global payment rails as a compelling advantage.

What’s at stake is far more than just another token launch. Hyperliquid currently holds $5.5 billion in USDC deposits, around 7.5% of the stablecoin’s supply.

Replacing that with USDH would redirect hundreds of millions in annual Treasury yield. Paxos has pledged 95% of reserve earnings to HYPE buybacks, Frax promised 100% of yield directly to users, Agora offered 100% of net yield alongside institutional custodianship, and Sky (ex-MakerDAO) proposed 4.85% returns plus a $25 million “Hyperliquid Star” project to bootstrap DeFi on the chain.

Hyperliquid already commands nearly 80% of decentralized perpetuals trading. Whichever issuer wins the USDH contract won’t just be minting a stablecoin, they’ll be wiring themselves into the financial backbone of one of crypto’s fastest-growing exchanges.

Market Movement:

BTC: Currently trading at $114,053, up 2.6% in the past 24 hours and 2.1% over the past week, though still down 3.9% for the month. The move reflects a short-term rebound fueled by positive risk sentiment and steady demand, even as longer-term consolidation continues.

ETH: ETH is trading at $4,373.99, up 2%, as investors shrug off a mass-slashing event that penalized over 30 validators.

Gold: Gold held near $3,635 an ounce after Tuesday’s $3,674 peak as investors await U.S. inflation data that could shape Fed cuts, while ANZ raised its year-end gold target to $3,800 and sees a peak near $4,000 by June on strong investment demand and central-bank buying.

Nikkei 225: Asia-Pacific markets opened mixed Thursday, with Japan’s Nikkei 225 up 0.23% and the Topix down 0.18%, after Wall Street hit record highs on Fed rate-cut hopes and upbeat inflation data.

S&P 500: The S&P 500 rose 0.3% to a record 6,532.04 Wednesday after an unexpected drop in wholesale prices bolstered hopes for a Fed rate cut next week.

Elsewhere in Crypto:

  • Trump’s CFTC Hopeful Quintenz Takes His Dispute With Tyler Winklevoss (Very) Public (CoinDesk)
  • Polygon rolls out hard fork to address finality bug causing transaction delays (The Block)
  • Activist investor Elliott Management says crypto is facing an ’inevitable collapse’ after its ‘perceived proximity to the White House’ inflated a bubble (Fortune)



Source link

0 comments
0 FacebookTwitterPinterestEmail
VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar
Crypto Trends

Joins Race to Issue Hyperliquid’s USDH Stablecoin With BlackRock-Backed Token

by admin



Decentralized finance protocol Ethena ENA$0.6692 submitted Tuesday a proposal to issue Hyperliquid’s upcoming stablecoin, joining a bidding race that has already attracted a slew of companies like Paxos, Sky, Frax and Agora.

The token would be fully backed by Ethena’s USDtb, a stablecoin issued with federally chartered bank Anchorage Digital and fully backed by BUIDL, the tokenized money market fund by asset management giant BlackRock and Securitize.

“We are excited to enable Ethena’s USDtb, which is 100% backed by BUIDL and uniquely positioned to offer institutional grade cash management as well as on-chain liquidity to Hyperliquid users,” said Robert Mitchnick, Blackrock’s head of digital assets, in the proposal.

If adopted, Ethena pledged that 95% of net revenue from USDH reserves would flow back to the Hyperliquid ecosystem, the proposal said. Ethena also said it would cover the costs of migrating existing USDC trading pairs on Hyperliquid to USDH to ease adoption.

The proposal comes as competition to win the issuance of Hyperliquid’s USDH stablecoin is intensifies. The decentralized exchange executed almost $400 billion in perpetuals trading volume last month, making it an attractive market for stablecoin providers to corner. Sky (formerly MakerDAO), Paxos, Sky, Frax, Agora and Native Markets threw their hat in the ring. Validators are set to vote on proposals on September 14.

Read more: Sky Pitches Genius-Compliant USDH Stablecoin With $8B Balance Sheet and 4.85% Yield



Source link

0 comments
0 FacebookTwitterPinterestEmail
Sky (Makerdao) Joins Hyperliquid’s Usdh Stablecoin Issuance Race
Crypto Trends

Sky (MakerDAO) Joins Hyperliquid’s USDH Stablecoin Issuance Race

by admin



The crypto industry is buzzing with Hyperliquid’s planned USDH stablecoin issuance, which has led to a bidding war between various protocols. While Paxos, Frax, Agora, and Native Markets were already pushing to power USDH, Sky had now also joined the race on Monday with a plan that made use of its $8 billion balance sheet.

Previously known as MakerDAO, Sky is already managing USDS and DAI stablecoins, worth around $13 billion, making it the fourth and fifth largest stablecoin issuers.

In a post on X, Rune Christensen, one of the founders of Sky, said, “By using Sky to power USDH, the Hyperliquid community will gain unbeatable advantages that no other stablecoin project can offer.”

USDH powered by Sky

The best stablecoin offers so much more than just a stable medium of exchange – it should also deliver highly efficient returns, generated by actively developing, building and growing the ecosystem it lives in.

By using Sky to power USDH, the Hyperliquid…

— Rune (@RuneKek) September 8, 2025

Christensen also proposed notable terms, including 4.85% returns on all USDH held in Hyperliquid. This rate is higher than the current yields on Treasury bills. The money will go toward buying back HYPE tokens and the platform’s Assistance Fund.

Sky’s plan includes $2.2 billion in instant redemption liquidity through the protocol’s Peg Stability Module. This feature lets big traders quickly convert USDH at scale. The firm also says it will invest $25 million in “Hyperliquid Genesis Star” to help get DeFi development going on the platform. The protocol plans to move its buyback engine, which makes more than $250 million a year, to Hyperliquid. 

The Competition is Tough 

As a leading decentralized perpetual exchange, Hyperliquid has over $5.5 billion in USDC deposits, which is about 7.5% of the stablecoin’s total supply. 

Apart from Sky, four other protocols in the race have also pushed forward favorable terms for issuing USDH stablecoin. These are Paxos, Frax, Agora, and Native Markets. Paxos has promised 95% of reserved earnings and zero fees for USDC migration, while Agora has pledged 100% of net revenue for HYPE buybacks. 

Meanwhile, Native Markets, which was the first protocol to send a proposal for USDH, promises a share of the reserve proceeds to Hyperliquid’s Assistance Fund, minting within the ecosystem, and following the rules. Frax Finance is a community-based model that gives users back 100% of the treasury’s profits. This arrangement is different from Sky’s revenue-sharing model.

An on-chain vote on September 14, 2025, will decide the outcome for the Hyperliquid community. The vote is one of the most closely watched developments in DeFi this year because whichever protocol wins the deal will have a huge amount of power in the stablecoin market.

Also Read: Stripe Faces Competition for Hyperliquid’s USDH Stablecoin





Source link

0 comments
0 FacebookTwitterPinterestEmail
Hyperliquid price at record high; USDH vote and 80% fee cuts fuel rally - 1
NFT Gaming

Hyperliquid price at record high; USDH vote and 80% fee cuts fuel rally

by admin



Hyperliquid price reached an all-time high, following news of a stablecoin launch and a major institutional vote of confidence.

Summary

  • Hyperliquid reached an ATH following several major announcements
  • Singapore-based fintech and trading platform Lion Group ditches Solana and SUI for Hype
  • The protocol is gearing up for major technical upgrades and its own stablecoin launch

On Monday, September 8, Hyperliquid (HYPE) price was up 7.5%, reaching an all-time high of $51.89. With a market cap of $16 billion, HYPE is now the eleventh-largest crypto asset, ahead of Chainlink (LINK). The move followed several significant developments for the DEX, including a major nod of confidence from an institutional player, network upgrades, and stablecoin plans.

For one, on Monday, September 8, Singapore-based trading platform Lion Group announced that it will convert Solana (SOL) and Sui (SUI) holdings into HYPE tokens. The Nasdaq-listed firm specializing in alternative investments stated that HYPE offers better long-term value creation than Solana and SUI. They also called the token “the most compelling opportunity” in DeFi.

Lion Group stated that it will convert its SOL and SUI positions into HYPE over time, buying at times when the token is down. Notably, Lion Group’s shift to Hyperliquid signals the institutional legitimacy the token has acquired, showing to some that it is now “safe” to invest. It also follows the decision from the asset manager BitGo to launch HyperEMV custodial solutions in the United States.

Hyperliquid to launch USDH stablecoin

Another significant development that pushed Hyperliquid to its ATH is the latest governance vote, which proposed the launch of the USDH. The Hyperliquid-based stablecoin, according to the company, is supposed to launch as part of the protocol’s next major upgrade.

The upgrade, announced on September 5, will cut fees for certain trading pairs by 80% and reduce rebates. According to the DEX, this move would boost liquidity on the high-frequency trading DEX.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
NFT Gaming

Hyperliquid Validators to Decide USDH Ticker in First Governance Test Following Pushback

by admin



In brief

  • Validators will decide the USDH ticker in an on-chain vote scheduled for September 14.
  • Hyperliquid claims the ticker carries no special privileges, while analysts see it as a push to reduce reliance on USDC.
  • Analyst estimates suggest USDH could divert $5.5 billion from USDC and generate $220 million annually for HYPE holders.

Hyperliquid, a decentralized exchange and Layer-1 chain, is slated to place the USDH ticker through a validator vote this month, testing the role of onchain governance in shaping its stablecoin strategy.

In an update posted Sunday to clarify guidelines, the team behind Hyperliquid said the vote concerns only the ticker and does not grant USDH “any special privileges by nature of its ticker name,” adding that USDH “will be only one of many such stablecoins” for its chain.

USDH is the project’s proposed native U.S. dollar stablecoin, intended to serve as an alternative to bridged assets like USDC.



The proposal deadline is September 10 at 10:00 UTC, with validators expected to declare by September 11 before voting takes place on September 14 between 10:00 and 11:00 UTC.

Hyperliquid also said that quote assets, the base currencies used to denominate trading pairs, will become permissionless after upcoming technical upgrades, allowing anyone to create new pairs without approval.

It’s worth noting that the Foundation’s validators will abstain from the vote by aligning with whichever team secures the most non-Foundation support, a mechanism meant to reduce perceptions of centralized influence while keeping the process stake-based.

Still, the vote comes amid unease from some existing stablecoin teams on Hyperliquid, who argue that reopening the USDH ticker risks disadvantaging protocols that were previously forced to build under different names.

Testing opposition

Observers told Decrypt the USDH vote could be a test of Hyperliquid’s effort to use governance to reduce stablecoin dependence.

By putting the ticker to a vote, Hyperliquid is showing that it is “consciously positioning itself in opposition to the centralized control characteristic of many exchanges,” Jaehyun Ha, research analyst at quantitative trading firm Presto, told Decrypt. Such a move elevates “community oversight and transparency as central pillars of its strategy,” he added.

The governance model also “reinforces Hyperliquid’s narrative that it is building a “Hyperliquid-aligned, compliant USD stablecoin” supporting its ecosystem, instead of “relying on external issuers,” Ha said.

The economic design of USDH is also central to its intended role within the Hyperliquid ecosystem.

Hyperliquid’s planned stablecoin aims to cut reliance on USDC and recycle reserve income, with estimates suggesting a 15% liquidity share could divert $5.5 billion and yield $220 million annually for HYPE holders, Ha said.

At this scale of capture, USDH could transform from a stablecoin to become a “powerful economic lever” within Hyperliquid’s ecosystem, Ha added.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
World Liberty Financial's Zak Folkman (Right) at Consensus Hong Kong on Feb. 19. (Nikhilesh De/CoinDesk)
Crypto Trends

Hyperliquid Moves Forward to Launch Proprietary Stablecoin USDH

by admin



Decentralized exchange Hyperliquid (HYPE) is preparing to launch its own U.S. dollar stablecoin, according to a Friday announcement from the Hyperliquid Foundation on the platform’s Discord server.

The protocol has reserved the ticker USDH, which validators will soon vote to allocate through an on-chain governance process, the announcement read. Teams interested in deploying USDH can submit proposals, and the winning group will be selected by validator quorum, the post added.

“The USDH ticker is well-suited for a Hyperliquid-first, Hyperliquid-aligned, and compliant USD stablecoin,” it said.

Stablecoins are a crucial piece of infrastructure of crypto markets, serving as liquidity and trading pairs to settle most trades. It’s a $270 billion asset class, currently dominated by Tether’s USDT and Circle’s USDC. However, with regulation put into place such as the GENIUS Act in the U.S., industry players increasingly create their own token for their ecosystems. Popular crypto wallet MetaMask is launching a stablecoin with infrastructure provider M0, while payment firm Stripe created its own in-house stablecoin with Bridge.

Hyperliquid’s trading activity suggests there could be immediate demand. The exchange handled $398 billion in perpetual derivatives trading volume and $20 billion in spot trades last month, DefiLlama data shows. Circle’s USDC (USDC) currently dominates liquidity, making up 95% of the $5.6 billion stablecoin supply on the network.

By introducing its own stablecoin, Hyperliquid, in theory, could reduce dependency on Circle while capturing revenue from assets backing the token.

Read more: Hyperliquid’s HYPE Token: Why Arthur Hayes Thinks It Has 126x Upside Potential



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close