🚀 Native Markets Snags USDH Ticker in Hyperliquid’s Stablecoin Showdown! 💰

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Well, slap my wallet and call me crypto-curious! Native Markets has just snagged the USDH ticker for Hyperliquid’s shiny new stablecoin, after a community vote that was more dramatic than a soap opera finale. 🍿 HYPE stakers and validators have spoken, and apparently, they’re all-in on this native stablecoin business. Who knew digital money could be so… *stable*? 🤷‍♂️

This wasn’t your average Sunday afternoon bake-off, mind you. The race was fiercer than a Black Friday sale, with bigwigs like Paxos, Frax Finance, and Ethena throwing their hats into the ring. But Native Markets? They didn’t just win-they *sprinted* across the finish line with over 70% of the validator votes. Talk about a landslide! 🏆

USDH HIP-1 and ERC-20: Coming Sooner Than Your Next Crypto Crash

Max Fiege, the brains behind Native Markets, took to X (formerly known as Twitter, because why not rename everything?) to announce that the USDH HIP-1 and its ERC-20 version are hitting the streets faster than a meme goes viral. 📈 First up? A testing phase where lucky ducks can mint and redeem up to $800 per transaction. Baby steps, people. Baby steps. Then, brace yourselves for the USDH/USDC spot order book and uncapped mints-because who doesn’t love unlimited anything? 🤑

We will be deploying both the USDH HIP-1 and corresponding ERC-20 within days.

We will then start with a testing phase for mints and redeems of up to $800/tx with an initial group, to be followed by the opening of the USDH/USDC spot order book as well as uncapped mints &…

– max.hl (@fiege_max) September 14, 2025

Hyperliquid’s Quest for Stablecoin Independence: Because Who Needs USDC Anyway?

Hyperliquid kicked off this whole shebang on Sept. 5, determined to cut the cord from USDC and USDT. USDH is their ticket to freedom, aiming to dethrone Circle’s USDC, which currently sits pretty with nearly $6 billion in deposits. That’s 7.5% of its total supply, folks-not too shabby. But fear not, USDC and USDT fans; Hyperliquid’s still got room for you, as long as you play by their liquidity and HYPE staking rules. 🕶️

The race was a who’s who of the stablecoin world, with heavy hitters like Paxos, Frax Finance, Sky, Agora, and Ethena joining the fray. But in the end, several projects threw in the towel before the final vote. Guess not everyone’s cut out for the stablecoin spotlight. 🎭

Why Native Markets? Because They’ve Got the Secret Sauce 🌶️

So, what’s Native Markets’ secret? Their proposal promised to issue USDH directly on Hyperliquid’s HyperEVM, which sounds fancy enough to impress even the most jaded crypto nerd. And their reserve management? It’s a hybrid model-part off-chain with BlackRock (yes, *that* BlackRock) holding cash and U.S. Treasuries, and part on-chain with Superstate using Stripe’s Bridge. The cherry on top? Reserve yields split equally between HYPE token buybacks and ecosystem growth. Talk about having your stablecoin and eating it too! 🍰

Congrats to Native Markets on winning the USDH ticker!

And congrats to every other proposer for making it such a competitive process

Look forward to seeing a bunch of new stablecoins on Hyperliquid in the coming days & weeks!

– Luke Cannon (@lukecannon727) September 14, 2025

Drama, Drama, Drama: The USDH Bidding War Gets Spicy 🌶️

Of course, no crypto event is complete without a healthy dose of controversy. Dragonfly’s Haseeb Qureshi raised an eyebrow, suggesting the whole thing was “custom-made” for Native Markets to win. But Ethena’s Guy Young? He’s all cheers, calling it proof that Hyperliquid gives newcomers a fair shot. Guess it depends on whether you’re holding the winning ticket or not. 🎟️

The Future of Stablecoins: Say Goodbye to USDC and USDT?

Mert Mumtaz, CEO of Helium Labs, thinks this whole USDH bidding war is a sign of the times. Stablecoins, he says, have become as commoditized as a bag of chips at a gas station. His prediction? Tickers like USDC and USDT will vanish from user interfaces, replaced by a simple “USD” while apps handle the swaps behind the scenes. Sounds convenient, but let’s see if the crypto world is ready to simplify. 🧐

And there you have it-Hyperliquid’s march toward stablecoin independence, complete with drama, innovation, and more acronyms than a government agency. Strap in, folks; this ride’s just getting started! 🚀

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2025-09-15 12:53