Hyperliquid’s native stablecoin USDH hit more than $ 2m trading volume after debut
Hyperliquid’s own stablecoin USDHL, developed by native markets, won Wednesday, making up more than $ 2 million in early quantities.
As of writing, the Hyperliquid listed Exchanged by the USDH/USDC pair At 1.001, with a total trading volume of 2,244,932.79 USDC.
Last week, the Hyperliquid Validator Community was selected Native market To receive the USDH ticker following a long war on the war that saw proposals from Paxos, Etha, Frax, and others.
The dollar-pegged stablecoin was issued by the native to Hyperevm and supported by cash and short-term US treasury security. Stablecoin will help reduce hyperliquid dependency on external stablecoins such as the USDC -released circle, which costs more than 90% of platform deposits.
Having a homegrown stablecoin will help the platform maintain liquidity and the yield formed from reserves within its own ecosystem. The USDH is designed to channel the yield formed from its ecosystem reserves by a 50-50 split, such as half of the income from USDH reserve reserve enters the funding of hype purchases and the other half supports the ecosy system growth initiatives.
Hyperliquid is the leading on-chain perpetual decentralized exchange of the world, controlling more than 35% of global activity. The market sharing, however, retreated from 70% to a point in May.
