Native Markets Triumphs in Fierce Competition to Launch Hyperliquid’s Game-Changing USDH Stablecoin
Breaking: Native Markets just outmaneuvered every major player to secure the exclusive launch of Hyperliquid's USDH stablecoin—this isn't just another stablecoin drop; it's a strategic power move.
The Race Heats Up
Multiple heavyweights battled for distribution rights, but Native Markets clinched the deal with aggressive liquidity provisions and razor-sharp execution—no room for second place in DeFi's custody wars.
Why USDH Matters
Hyperliquid's entry brings algorithmic stability backed by over-collateralized crypto assets—cutting out traditional banking middlemen while offering yield opportunities that make savings accounts look prehistoric.
Market Impact
Traders now get deeper liquidity pools, tighter spreads, and one less excuse to keep funds parked in legacy finance—unless you really enjoy earning 0.01% APY while banks pocket the difference.
Final Take
Another day, another stablecoin—but this one actually challenges the stagnant incumbents rather than just copying their homework.
Native Markets has secured the USDH ticker
The competition for the USDH ticker on Hyperliquid saw participation from some of the biggest names in the stablecoin and DeFi space, with Paxos, FRAX Finance, Sky and Agora all submitting proposals.
Other contenders, including Ethena, OpenEden, Curve, BitGo, and Bastion, submitted or considered proposals, though some either withdrew or failed to generate the same momentum as Native Market.
While announcing this milestone, Native Markets expressed appreciation to the Hyperliquid community.
“Thank you to all HYPE stakers and network validators for their time and effort in reviewing the proposals put forward,” Native Markets stated in its announcement.
They also noted “deep respect” for the other projects that submitted competing proposals, emphasizing their excitement about seeing different teams execute on their visions for the Hyperliquid ecosystem.
USDH rollout plan
Native Markets confirmed that the USDH HIP-1 implementation and the corresponding ERC-20 contract will be deployed within days. Once live, the team will begin a testing phase that allows minting and redeeming transactions of up to $800 per transaction with a limited set of users.
This controlled rollout is designed to ensure stability, security, and proper functioning of the system before opening it up to wider adoption. Following successful testing, the next steps include launching the USDH/USDC spot order book and removing the per-transaction cap to enable uncapped mints and redeems.
Native Markets also invited high-volume traders who are interested in participating in the testing process, particularly those who want to try out their API during the capped testing phase.
“In particular, if you trade large volumes on Hyperliquid and WOULD like to test out our API during this phase, please feel free to drop me a ping,” the statement urged.
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