The original Stablecoin was launched from HyperleliIID, USDH, on Wednesday with a USDC trading pair, where he recorded approximately $ 2 million in early commerce.
With USDH now, Hyperliquid has its first assets that are equipped with dollars, giving traders a stable mathematical unit and association over the network.
The original markets will run from Exchange and oversee billions of dollars in potential flows. the Starting the encryptionLed by excessive investor, MAX Fiege, the former head of the Mary-Catterine Lader and the researcher Blockchain AGNIHOTRI, through the verification vote on September 14.
According to the original suggestion of NATIVE MARKETS, Stablecoin is supported by Cash and Treasury Conferences, and will depend on Bridge, the premium symbol platform in Stripe, to manage reserves.
Usdh is arrested on hyperevm, liquid height The implementation layer compatible with ethereumAllow it to circulate through its network while reducing dependence on the external stablecoins such as USDC Circle (USDCAnd maintaining the return within its environmental system.
The height of the liquid is the exchange of derivatives, not centralized Noise In November 2024, in July, he was treated around him $ 330 billion in trading volume With a team of only 11 people.
Related to: Crypto suggests 45 % noise supply
Bidding War for Stablecoin from HyperleliQuid
Bidding war for Version rights for stablecoin branch It started on September 5 when Hyperleiid announced that it would open a governance process to grant the US dollar tape.
Soon after, the original markets made an offer, committed to the original USDH version on Hyperevm and the division of backup income equally between the re -purchase of the distinctive symbol and the development of the ecosystem of financing.
In the following hours and days, the offers were presented by Paxos, Sky, Frax Finance, Agora, Curve, OpenDen, Bito and Ethena – although the latter ultimately withdrawn its offer and the accredited original markets.
The operation was not controversial. Some critics, such as the administrative partner at Venture Capital Dragonfly Haseeb Qureshi, have argued that it seems to be designed for the benefit of the original markets, although large companies like Paxos, Ethena and Agora have made more powerful proposals.
On September 9, Quraishi wrote on X that he heard from “multiple offers providers that none of the auditors are not interested in thinking about anyone alongside the original markets”, and that the fact that the proposal to start the encryption came out immediately after the announcement of the USDH request for the proposal, indicating “they had advanced notice.”
He also stated that the original markets are “a completely new starting”, which means that it has no busy record to justify the bidding very quickly.
Despite the critics, The original markets came out on top On September 14, he won the first major governance decision in the increasing governance with more than two -thirds of the votes of the auditors.
Over the past seven days, the noise, the original cryptocurrency in Hyperleberber has decreased by about 7 %, according to the data from Co Ringecko.
He also sees liquid height New competition from ASTERPermanent and decentralized exchange works on the BNB series.
Wednesday, Devilia Data It showed that Estrox’s permanent trading was closed at $ 30 billion, more than twice the size of the excessive liquid, which recorded about $ 10 billion at the time of writing this report.
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