Paxos, Frax, and Agora Compete to Issue Hyperliquid USDH Stablecoin
OdailySep 8, 2025Hyperliquid plans to launch a native stablecoin USDH, with issuers to be determined by validator votes. Currently, Paxos, Frax, Agora, and Native Markets have submitted proposals, and Ethena has also hinted at participation. Paxos proposes using 95% of the interest to repurchase $HYPE; Frax plans to endorse with frxUSD and take zero commission, with annualized revenue potentially reaching $220.00M; Agora promises to return 100% of net income to the ecosystem. The final result will be decided by a vote on September 14. (The Block) [Odaily]
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Paxos, Frax, and Agora Compete to Issue Hyperliquid USDH Stablecoin
OdailySep 8, 2025Hyperliquid plans to launch a native stablecoin USDH, with issuers to be determined by validator votes. Currently, Paxos, Frax, Agora, and Native Markets have submitted proposals, and Ethena has also hinted at participation. Paxos proposes using 95% of the interest to repurchase HYPE; Frax plans to endorse with frxUSD and take zero commission, with annualized revenue potentially reaching $220.00M; Agora promises to return 100% of net income to the ecosystem. The final result will be decided by a vote on September 14. (The Block) [Odaily]
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