usdh

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, according to official sources, the USDH issuer Native Markets has staked and locked 200,000 HYPE (approximately 8.7 million USD) for a period of 3 years.In previous news, Native Markets won the Hyperliquid stablecoin USDH bidding, and Hyperliquid has launched the HYPE/USDH spot trading pair.

ChainCatcher news, according to the official website, Hyperliquid has just launched the HYPE/USDH spot trading pair, which was previously launched USDH/USDC.

ChainCatcher news, according to The Block, the USDH stablecoin issued by Native Markets has been launched on the Hyperliquid platform, and the USDH/USDC trading pair is now open for trading. Initial trading volume indicates a cautious but active market start, with trading volume reaching approximately $2.2 million as the market kicks off.USDH is the first dollar-pegged token issued based on the selection process run by Hyperliquid's validation nodes. It is a stablecoin natively issued on HyperEVM and can circulate across chains within the entire Hyperliquid ecosystem.Native Markets won the bid earlier this month, beating out proposals from several companies including Paxos, Frax, and Agora. The plan requires a phased rollout, with the first USDH/USDC spot market going live "within days" after the vote passes.The issuer stated that its reserves are fully backed by cash and short-term U.S. Treasury bonds, with the initial composition including both off-chain management and on-chain components, and data provided through oracles for transparency. The proposal materials also outline an economic circulation mechanism that allocates part of the reserve profits for HYPE token buybacks.

ChainCatcher news, according to official sources, Hyperliquid has recently launched a new stablecoin USDH. Under the wave of compliance, stablecoins have become a core infrastructure in the crypto world. On September 16 at 8 PM, SunPump will collaborate with industry leader 1783DAO to hold an in-depth roundtable discussion on the future landscape of stablecoins: will there be coexistence of multiple currencies or a winner-takes-all scenario? How will the new generation of stablecoins break the deadlock? What form will they evolve into in the next decade? The seminar will be live-streamed via Twitter Space. Users can participate in the interactive lottery by following the official accounts @sunpumpmeme and @Agent_SunGenX, retweeting the event post, and tagging three friends to win a reward of 10 USDT.

ChainCatcher news, according to market news, the validator community of Hyperliquid has selected Native Markets to receive the long-term reserved USDH trading code. This week-long competition attracted many giants in the stablecoin and cryptocurrency infrastructure sectors to participate in the bidding, and it has now come to a close.In the post announcing the results, Native Markets stated that it will immediately launch a phased rollout plan, starting with a small-scale minting and redemption testing phase, followed by the opening of the USDH/USDC spot trading pair, and finally lifting the limits. The team views the limits as a safety check before the full launch and indicated that the related activities should "start within a few days."According to the proposal, Native Markets' USDH will be natively issued on Hyperliquid's HyperEVM network, with reserves managed by both off-chain and on-chain assets, and it is explicitly planned to allocate reserve earnings to the HYPE buyback and the expansion of USDH circulation.The stablecoin will be "initially fully backed by off-chain reserves managed by BlackRock and on-chain reserves managed by Superstate through Bridge, with cash and U.S. Treasury equivalents."

ChainCatcher news, according to usdhtracker data, Hyperliquid stablecoin USDH currently has 70.55% of the staking share support in the bidding for Native Markets, with 10 out of 18 node validators indicating they will support Native Markets.

ChainCatcher news, Paxos Labs co-founder bhau posted on the X platform, seemingly acknowledging the failure of the USDH bidding and thanking the community for their support. He stated that the initial purpose of proposing USDH was to directly engage and understand the Hyperliquid community's demand for ecological stablecoins. In just the past week, he has deepened his understanding of what truly matters. Although the proposal is currently locked, this is just the beginning of ongoing dialogue, and Paxos will continue to be a contributor to the ecosystem, with the goal not only to win governance votes but also to grow the ecosystem.Paxos's official Twitter account posted on the X platform, stating that the validator voting for the USDH proposal may have already ended, and re-staking will be open until this Sunday. According to the latest USDH bidding data, Native Markets currently holds 70.31% of the staked share support, while Paxos Labs ranks second with 16.79% of the staked share support.

The founder of Ethena announced today the withdrawal from the Hyperliquid USDH stablecoin issuance bid, giving the opportunity to the Native Markets team. After direct communication with the community and validators, Ethena accepted criticism regarding its "non-Hyperliquid native team" and other aspects.Despite withdrawing from the bid, Ethena stated that it will continue to develop all originally planned products, including the hUSDe native synthetic dollar, USDe-supported savings and card payment products, hedging liquidity on Hyperliquid, and innovative solutions based on the HIP-3 market.

ChainCatcher news, according to Paxos, the USDH proposal V2 has received integration support from PayPal and Venmo ecosystems, along with a $20 million incentive; the initial ratio of AF incentives is 20%, which will increase as TVL grows; Paxos earnings will begin once USDH TVL exceeds $1 billion, with a maximum earnings cap of 5%.

ChainCatcher news, Ethena Labs has released a proposal requesting the community and validator group to consider the inclusion of the USDH token identifier, proposing the launch of a stablecoin centered around the Hyperliquid platform. This stablecoin will integrate the professional experience and resources accumulated by Ethena and its partners in practical applications, with a strong emphasis on security, community co-construction, and compliance.Ethena commits to investing significant funds and human resources to make USDH a benchmark, top-tier stablecoin among Hyperliquid users and developers. The core terms of the proposal include that USDH will initially be 100% backed by USDtb; Ethena commits to using at least 95% of the net income generated from USDH reserves for the Hyperliquid community; if the Hyperliquid community wishes to reprice the current trading pairs on the core exchange from USDC to USDH, Ethena will bear all transaction costs for migrating USDC to USDH; the Ethena Labs research team will submit a proposal to the Ethena Risk Committee to apply for USDH to be listed as a compliant backing asset for USDe, etc.

ChainCatcher news, Sky (formerly MakerDAO) joins the competition for USDH stablecoin issuance under Hyperliquid. Sky co-founder Rune tweeted, "Sky provides the main advantages of USDH for Hyperliquid: USDH will gain instant liquidity of $2.2 billion USDC for off-chain redemption; Sky can deploy its over $8 billion balance sheet to Hyperliquid; all USDH on Hyperliquid can earn a yield of 4.85%, higher than treasury yields, and all 4.85% earnings generated by USDH will be used for the HYPE buyback fund; Sky can provide $25 million in funding to create an independent Hyperliquid Star project, autonomously developing Hyperliquid DeFi; Sky can transfer its buyback system to Hyperliquid, utilizing over $250 million in annual profits to build USDH liquidity."

ChainCatcher message, Frax founder Sam Kazemian posted on X, stating that for stablecoin issuers and infrastructure companies, the key point of competing to submit the Hyperliquid stablecoin USDH issuance proposal is not about revenue sharing; the real value lies in achieving interoperability and deep 1:1 integration with Hyperliquid's massive distribution scenario. In fact, all parties shortlisted for the proposal (Frax, Paxos, Agora) have expressed their willingness to return 100% of the revenue.