Hyperliquid Validators to Vote on USDH Stablecoin Ticker Assignment

Hyperliquid, a decentralized exchange and Layer-1 blockchain, will hold a governance vote on September 14 to determine which team receives the USDH ticker for issuing a native stablecoin. The vote, scheduled between 10:00 and 11:00 UTC, will involve protocol validators staking their preferences.

Proposals from Paxos Labs, FRAX Finance, Agora, and Native Markets are under consideration. Teams must submit their proposals by September 10, with validators declaring their choices by September 11 to allow users to align their stakes accordingly. Voting power is determined by stake weight, and validators will submit addresses corresponding to their preferred team.

The decision solely assigns the ticker—no exclusive rights or privileges are granted. Hyperliquid emphasized that USDH will coexist with other stablecoins on its blockchain, maintaining an open ecosystem for new entrants.