Why Sky Betting $25M on a Stablecoin Might Be the Best Mistake Ever

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Sky, formerly known as the mysterious MakerDAO (yes, those wizards who tried to make money out of thin air), has now taken a shine to Hyperliquid’s shiny new toy: the USDH stablecoin. It’s like a digital coin with a better interest rate than your granny’s savings account-4.85% yield, to be exact-making those snoozy US Treasury bills look like a bargain basement sale at a hedge fund convention.

But wait! There’s more! Not only does USDH come with compliance options under the obscurely named GENIUS Act (because what could possibly go wrong when “genius” is in the title?), Sky is throwing $25 million at it-yes, million with a capital M-to make DeFi grow like a Chameleon’s worst nightmare. The whole plan involves a dizzying $2.2 billion in instant liquidity, which is basically the financial equivalent of showing up at a party with enough drinks to host the universe.

As if that wasn’t enough, they’re planning to move their trusty buyback engine over to USDH, which sounds like some kind of mechanical dragon breathing fiscal fire to keep this stablecoin at the front of the race. So hold on to your hats, because the stablecoin world just got a little less stable and a lot more interesting. 🚀💸

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2025-09-09 10:45