Sky Commits $25M to Boost Hyperliquid’s USDH Stablecoin Ecosystem

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 $25 million commitment to autonomously grow decentralized finance (DeFi) on the Hyperliquid platform, targeting ecosystem expansion and liquidity enhancement.

USDH offers a competitive 4.85% yield, outperforming traditional US Treasury bills, while providing compliance options under the GENIUS Act. The proposal also features $2.2 billion in instant liquidity and plans to migrate Sky's buyback engine to bolster USDH's market position.

This MOVE positions USDH as a formidable contender in the increasingly competitive stablecoin market, combining yield advantages with institutional-grade infrastructure support.