Hyperliquid Launches USDH Stablecoin with Native Markets Overseeing Governance
Hyperliquid Network is set to introduce its USDH stablecoin following approval from HYPE coin stakers. Native Markets will spearhead governance and launch operations, with initial trading volume expected to be constrained.
The proposal by Native Markets secured validator consensus, triggering activation of USDH HIP-1 and ERC-20 contracts. Co-founder Max Fiege confirmed phased rollout plans: an $800 transaction cap during testing, followed by unrestricted USDH/USDC trading. Polymarket data had previously indicated a 90%+ likelihood of this outcome.
Reserve management combines BlackRock's treasury expertise with Superstate's blockchain-based asset handling. This hybrid approach aims to balance institutional credibility with decentralized transparency.
