After the community vote, as one of the teams that submitted the proposal for the issuance and management of the Hyperliquid US Dollar Stablecoin (USDH), Native Markets officially announced that it has successfully claimed the USDH token symbol. Native Markets founder @fiege_max posted on the X platform that the project will launch its first Hyperliquid Improvement Proposal (HIP) for USDH in the coming days, while also issuing an ERC-20 token based on the Ethereum network.
Competing for the issuance rights of USDH, the giants are pulling out all the stops.
The Hyperliquid ecosystem is engaged in a fierce bidding war for the issuance of its native stablecoin USDH, with institutions like Paxos, Frax, Sky, and Ethena participating in the competition, exerting all their efforts to release various commitments to gain support.
Does Hyperliquid really need a decentralized stablecoin?
Which bidder has a better chance of winning the bidding proposal?
Stay tuned for more details in this issue:
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