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Hyperliquid’s USDH: Establishing Financial Independence in the Dynamic DeFi Landscape

Hyperliquid’s USDH: Establishing Financial Independence in the Dynamic DeFi Landscape

Bitget-RWA2025/09/28 00:09
By:Coin World

- Hyperliquid launched USDH, a stablecoin backed by cash and U.S. Treasuries, to strengthen its DEX ecosystem amid competition from rivals like Aster. - USDH enables trading against HYPE and USDC, with $15M pre-minted to boost liquidity and community governance approval. - The stablecoin aims to reduce reliance on external assets while generating reserve yields to fund HYPE buybacks and stabilize its market position. - Despite USDH's $23M market cap, Hyperliquid faces pressure from Aster's $147B weekly vol

Hyperliquid’s USDH: Establishing Financial Independence in the Dynamic DeFi Landscape image 0

Hyperliquid has rolled out

, a stablecoin created to strengthen its decentralized exchange (DEX) platform as competition heats up. Debuting on September 27, USDH is supported by cash and short-term U.S. Treasuries, providing a reliable trading and derivatives benchmark Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ]. The token can be traded against Hyperliquid’s governance token, HYPE, and , giving users more liquidity choices USDH Stablecoin Goes Live on Hyperliquid with $2.2M Early … [ 2 ]. Native Markets, the team behind the project, pre-minted $15 million in USDH to jumpstart liquidity and secured approval from the community through a governance vote, outpacing proposals from established players like Paxos and Agora Hyperliquid Unveils USDH Stablecoin to Boost Liquidity [ 3 ]. The reserves for the stablecoin are managed using a combination of off-chain assets and on-chain transparency tools, such as oracle feeds that confirm balances in real time Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ].

Hyperliquid’s decision to launch USDH comes as competitor exchange Aster, backed by YZi Labs (affiliated with Binance founder Changpeng Zhao), sees a surge in trading. According to DeFiLlama, Aster handled $147 billion in perpetual trading volume last week, overtaking Hyperliquid’s $81 billion Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ]. Although Hyperliquid leads in 30-day cumulative volume with $296 billion versus Aster’s $162 billion, the rivalry remains intense. Experts caution that Hyperliquid’s market share could be further threatened as a $12 billion HYPE token unlock is set for November. The gradual release of 237.8 million HYPE tokens over two years could put additional downward pressure on the price, especially after HYPE dropped more than 20% in the previous week Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ].

The introduction of USDH is part of Hyperliquid’s broader plan to lessen dependence on external stablecoins like USDC and to capture yield from reserves internally. Native Markets has locked up 200,000 HYPE tokens for three years to align governance interests and stabilize liquidity Hyperliquid Unveils USDH Stablecoin to Boost Liquidity [ 3 ]. Additionally, profits from USDH reserves will be used for periodic HYPE buybacks, strengthening the token’s economic base Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ]. This strategy mirrors a growing DeFi trend where platforms aim to shield themselves from external volatility and build sustainable revenue streams through stablecoin initiatives USDH Stablecoin Goes Live on Hyperliquid with $2.2M Early … [ 2 ].

Even as Hyperliquid’s ecosystem evolves, the competitive environment remains dynamic. Aster’s adoption of cross-chain swaps on the

Chain and support from PancakeSwap’s network have increased its attractiveness USDH Launch Boosts Hyperliquid Amid Competitor Pressure [ 5 ]. At the same time, Hyperliquid is working to integrate USDH into spot markets and launch USDH-margined perpetual contracts to maintain its competitive advantage. The platform’s ability to innovate and manage the upcoming HYPE token unlock will be crucial for its continued market presence Hyperliquid Launches Its Stablecoin With $23 Million Market Cap [ 1 ].

USDH currently has a market capitalization of $23 million, with initial trading volumes reaching $2.2 million USDH Stablecoin Goes Live on Hyperliquid with $2.2M Early … [ 2 ]. While this is modest compared to Tether’s $173 billion

market cap, USDH’s emphasis on ecosystem integration rather than broad cross-chain adoption positions it as a specialized contender in the diverse stablecoin sector USDH Stablecoin Goes Live on Hyperliquid with $2.2M Early … [ 2 ]. As DeFi platforms continue to compete for stablecoin issuance, USDH’s future will likely depend on Hyperliquid’s ability to keep users engaged and adapt to shifting regulatory and market conditions Hyperliquid Unveils USDH Stablecoin to Boost Liquidity [ 3 ].

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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