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Details: ht
Hyperliquid is a leading Perptual Futures DEX and high-performance public chain, recently announcing plans to launch its native stablecoin USDH. This initiative aims to drop reliance on external stablecoins (such as USDC) — currently, Hyperliquid holds approximately 5.5 billion USD (about 7.5% of the total USDC supply) — and to capture the earnings generated from reserve management.
Instead of issuing USDH on its own, the Hyperliquid Foundation has chosen to invite teams to submit compliant stablecoin design proposals with Hyperliquid as a priority through a public bidding process, and the final issuer will be decided by a vote from Hyperliquid's validators. The deadline for proposal submissions is September 10, and the validator voting is scheduled for September 14.