OpenEden and BitGo Compete to Manage Hyperliquid’s USDH Stablecoin Reserves

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-09-11 10:26:03

BTCCSquare news:

OpenEden and BitGo have entered the race to manage Hyperliquid's native stablecoin, USDH, bringing the total number of contenders to eight. Hyperliquid validators will vote on the proposals from Thursday to Sunday, with the winner overseeing a $5.9 billion reserve.

OpenEden, a real-world asset tokenization platform, plans to distribute all yield generated from USDH reserves back into the Hyperliquid ecosystem. This includes periodic buybacks of the HYPE token and additional support for validators. The firm has also pledged 3% of its native EDEN token supply as an incentive.

BitGo, meanwhile, aims to leverage US dollar-backed assets and Chainlink's technology for USDH minting and redemption. Native Markets currently leads the vote with a proposal to split reserve proceeds for HYPE buybacks.

By:

Log in to Reply

Apple iPhone 17 Introduces Advanced Security for Crypto Users with MIE

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.