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Sky Backs Hyperliquid’s USDH Stablecoin with $25M Growth Boost
Sky Backs Hyperliquid’s USDH Stablecoin with $25M Growth Boost
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BTCCSquare news:
Sky, the rebranded entity formerly known as MakerDAO, has proposed a strategic initiative to support the launch of Hyperliquid’s USDH stablecoin. The plan includes a competitive 4.85% yield on USDH, surpassing returns from US Treasury bills, alongside compliance features under the GENIUS Act.
A $25 million commitment from Sky aims to autonomously expand DeFi activity on Hyperliquid, targeting ecosystem growth. The proposal also unlocks $2.2 billion in instant liquidity and outlines a migration of Sky’s buyback engine to bolster USDH’s market position.
This MOVE positions USDH as a formidable player in the intensifying stablecoin arena, combining yield incentives with institutional-grade infrastructure.
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