hip-1

The tokenized U.S. stock issuer EQX Labs announced the launch of EQX, which will issue tokenized U.S. stocks and ETFs natively in the form of HIP-1 tokens on Hyperliquid's HyperCore. The first 11 markets will soon open for 24/7 trading on Hyperliquid's public order book, and the tokens can be traded without permission.The EQX token is issued by the independent portfolio company EQX SPC Ltd. in the British Virgin Islands and is classified as a limited recourse note backed by stocks, with each code corresponding to an independent portfolio. Authorized participants can exchange between shares and tokens, and the issuer does not charge any related fees. The supported assets are held 1:1 by custodians connected to DTC, currently including Alpaca, StoneX, and Clear Street. Shares pending delivery will be displayed separately as in transit and should be settled on the next U.S. business day. The issuer is held by the Cayman purpose trust EQX STAR Trust, and EQX Labs does not hold this issuing entity.Holders can submit voting instructions via on-chain signatures, and dividends will be automatically reinvested in the same stock after withholding. Stock splits will be reflected in the supported shares. Once Hyperliquid's proposed HIP-1 expansion goes live, EQX plans to directly allocate dividends to holders' accounts. There are no issuer fees for creation, redemption, and holding, and trading is subject only to Hyperliquid's standard spot trading fees, with related business supported by trading fees shared by Hyperliquid with HIP-1 deployers.

According to Cointelegraph, Hyperliquid will expand a deployer-controlled scaleWei function for HIP-1. This function can proportionally adjust the balances of a certain token among all holders, equivalent to an on-chain version of a stock split, and can also be used to handle airdrops, dividends, repricing, and reverse mergers.According to the announcement, during the execution of the rescheduling, unfilled orders will be canceled and replaced according to the effective rescheduling ratio, rounded down, while totalWei is allowed to be negative, enabling reverse rescheduling. The initiating address can be a system address from Core to EVM, or a treasury address specified and signed by the deployer.

The Hyper Foundation announced that it will provide approximately $10 million in grants to developers affected by the USDH exit, to cover migration costs and support an orderly transition of the ecosystem. This round of funding will be allocated to affected HIP-1 spot deployers, HIP-3 perpetual contract deployers, HyperEVM protocol, USDH:USDC cross-chain bridge, and other ecosystem participants.Among them, migration grants are aimed at teams migrating USDH-related markets or deployments to USDC; while exit grants are for projects that choose to terminate USDH-related businesses, with amounts lower than equivalent migration plans, to encourage a smooth conclusion of the ecosystem. HIP-1 and HIP-3 grants are based on auction deployment cost estimates, while HyperEVM grants are assessed based on the scale of USDH TVL affected. All beneficiaries must complete migration or business closure by the end of July.On the user side, USDH holders need to operate according to the guidelines of each protocol and can complete the exchange to USDC through the spot market or HyperEVM path. The official has provided support for asset conversion with no fees or spot trading channels. The Hyper Foundation also stated that the USDH migration is progressing smoothly, thanks to the active cooperation of developers and the community, and expressed gratitude to the relevant builders.

ChainCatcher news, Hyperliquid announces the launch of permissionless spot quote assets on the mainnet. Stable asset deployers can enable the "quote asset" status as required on-chain.Any quote asset can be used as a quote asset in the first spot trading pair of HIP-1; new trading pairs between existing base and quote assets can be deployed through permissionless Dutch auctions, independent of the HIP-1 token auction. Native Markets has deployed USDH as the first permissionless quote asset, and the HYPE/USDH trading pair is now live, with plans to deploy more permissionless trading pairs as soon as possible.

ChainCatcher news, the decentralized perpetual contract trading protocol Hyperliquid has launched the HIP-1 permissionless Spot Token deployment feature on the mainnet. HIP-1 is a fungible token standard with a capped supply that supports on-chain spot order book trading between HIP-1 tokens. Deployers need to bid Gas fees through a Dutch auction, which lasts for 31 hours. The project team strongly recommends that deployers first try on the testnet to avoid issues on the mainnet.Please note that Spot Tokens deployed by users are not officially endorsed, and users should be aware of the risks when trading unfamiliar tokens and conduct due diligence.