Decentralized exchange hyperliquid (Advertising hype) He is preparing to launch his own US dollar Stablcoin, according to a Friday announcement of the Hyperliquid Foundation on the platform discord server.
The protocol has reserved the USDH ticket, which the validators will soon vote to assign through a government process in the chain, read in the announcement. The teams interested in implementing the USDH can send proposals, and the winning group will be selected by Validador Quorum, the publication added.
“The USDH’s ticket is suitable for a USD Stablecoin from Hyperliquid-First, Hyperliquid and aligned and compatible with,” he said.
Stablecoins are a crucial piece of infrastructure of cryptographic markets, which serve as liquidity and negotiation pairs to solve most operations. It is a kind of assets of $ 270 billion, currently dominated by the USDT of Tether and the USDC of Circle. However, with regulation instead, such as the genius law in the United States, industry actors increasingly create their own token for their ecosystems. Popular Crypto Wallet Metamask is launching a stable with an M0 infrastructure supplier, while the Stripe payment firm created its own internal stablocoin with Bridge.
Hyperliquid’s commercial activity suggests that there could be an immediate demand. The exchange managed $ 398 billion in volume of negotiation of perpetual derivatives and $ 20 billion in spot operations last month, as shown by defillma data. USDC of Circle (USDC) Currently, liquidity dominates, which represents 95% of the Stablecoin supply of $ 5.6 billion in the network.
By introducing its own stable, hyperlycide, in theory, it could reduce the dependence of the circle while capturing the income of the assets that support the token.
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