Hyperliquid Launch USDH Stablecoin After Validator Vote

Hyperliquid don launch im own USDH stablecoin for HyperEVM chain afta validator dem vote on top September 14 we come choose Native Markets as reserve manager. The USDH stablecoin dey backed by cash and US Treasuries, wit reserves tokenize through Stripe’s Bridge. Traders fit mint USDH through di USDC pair, wey carry almost $2 million volume for di first days. As Hyperliquid on-chain account and collateral, di USDH stablecoin wan keep liquidity and yield inside DeFi derivatives ecosystem, make una no rely too much on outside tokens. Stablecoin issuance gather bids from Paxos, Frax Finance (FRAX), Curve (CRV) plus oda issuers, wit Native Markets promise say dem go share di reserve income between HYPE token buybacks and ecosystem funding. Even though Dragonfly’s Haseeb Qureshi question di fairness of governance, Native Markets get more than two-thirds of di votes. The week after di launch, Hyperliquid’s HYPE token drop about 7%. Meanwhile, competition from Aster on BNB Chain don grow strong, wit daily perpetual trading volumes reach $30 billion compared to Hyperliquid’s $10 billion. Traders suppose dey watch governance reports, liquidity metrics and derivatives volumes to understand di USDH adoption and how e go affect market dynamics.