Hyperliquid's USDH stablecoin bidding is fierce, with many well-known institutions submitting proposals.
TechFlowSep 8, 2025On September 8, according to The Block, Hyperliquid announced the launch of its own stablecoin USDH. Currently, four institutions, Paxos, Frax Finance, Agora, and Native Markets, have submitted bidding proposals, and Ethena has also hinted that it will participate in the competition. The proposals from all parties have their own characteristics: Paxos promises that 95.00% of interest income will be used for $HYPE repurchase; Frax proposed a zero-fee plan and promised a 4.00% annualized yield; Agora guarantees 100.00% net income sharing. Hyperliquid will close the proposal collection on September 10, and the final winner will be determined by validator voting on September 14. [Techflow]
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Hyperliquid's USDH stablecoin bidding is fierce, with many well-known institutions submitting proposals.
TechFlowSep 8, 2025On September 8, according to The Block, Hyperliquid announced the launch of its own stablecoin USDH. Currently, four institutions, Paxos, Frax Finance, Agora, and Native Markets, have submitted bidding proposals, and Ethena has also hinted that it will participate in the competition. The proposals from all parties have their own characteristics: Paxos promises that 95.00% of interest income will be used for HYPE repurchase; Frax proposed a zero-fee plan and promised a 4.00% annualized yield; Agora guarantees 100.00% net income sharing. Hyperliquid will close the proposal collection on September 10, and the final winner will be determined by validator voting on September 14. [Techflow]
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