Hold onto your hats, folks! Hyperliquid is diving headfirst into the deep end with its shiny new USDH stablecoin! Buckle up for a wild ride as it tries to make a splash in the ever-growing world of decentralized exchanges (DEX)!
It’s here! The brand-new token has officially launched, making its grand debut this week with Native Markets, the team behind the Hyperliquid magic. And, oh boy, did they make a scene!
Native Markets Drops USDH, Stakes HYPE – Sounds Exciting, Right?
On September 27, Native Markets confirmed that USDH is now ready to roll in the exchange’s decentralized spot and derivatives markets. Traders, rejoice! You can pair the token with HYPE – Hyperliquid’s spunky little governance token – and USDC, offering users a stable, smooth experience right there in the platform’s ecosystem.
And guess what? The team locked up a cool 200,000 HYPE for a whole THREE YEARS! That’s right, folks, a 3-year commitment. It’s like making a promise to your dog that you’ll never leave them alone… but for crypto. The goal? To keep liquidity flowing and make sure everyone plays nice with the governance.
Oh, and before the big reveal, Native Markets went ahead and pre-minted a whopping $15 million USDH via HyperEVM. They even teamed up with the Assistance Fund for some extra liquidity sauce. Talk about pulling out all the stops!
Now, you’re probably wondering, “What backs this stablecoin?” Well, the answer is simple – cold, hard cash and some fancy short-term US Treasuries. Native Markets is keeping things tight with a mix of off-chain holdings and on-chain transparency tools, like those super cool oracle feeds that keep track of real-time balances. So, yeah, no funny business here!
And don’t forget – a portion of the returns from these reserves will be used to buy back HYPE tokens. So, in case you were worried about HYPE losing steam, rest easy. The foundation is as sturdy as a rock. 🪨
Oh, and before you say, “Another stablecoin? Really?” – think again! This launch follows a thrilling governance contest earlier this month where Native Markets defeated the competition, including the big shots Paxos and Agora. It’s like David vs. Goliath, only with a way cooler tech stack. 💪
Hyperliquid: The Big Fish in a Sea of Competition (For Now…)
Now, don’t get too comfy, because USDH’s arrival comes with a BIG, BIG caveat. Hyperliquid’s reign is under threat! 🚨
In recent weeks, Aster (backed by YZi Labs, the family office of Binance’s big boss Changpeng Zhao) has been making waves. Just check out the stats – last week, Aster raked in a whopping $147 billion in perpetual volume, while Hyperliquid only managed to scrape together $81 billion. Ouch. 😬
But wait! Don’t count Hyperliquid out just yet. Over the past 30 days, Hyperliquid still holds the crown with a hefty $296 billion in cumulative volume. Aster? Not quite there yet with $162 billion. So, they’re still king of the hill, for now. 👑
However, hold onto your wallets, folks – analysts at Maelstrom are raising their eyebrows. Why? Because come November, Hyperliquid’s token unlock will release 237.8 million HYPE tokens (that’s about $12 billion worth) over the next 24 months. Uh-oh, here comes the turbulence! 🏄♀️
And with HYPE shedding over 20% in value last week, it looks like the road ahead could get a little bumpy. So, will Hyperliquid rise to the occasion, or will it go the way of the dodo? Only time will tell!
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2025-09-27 16:23