Ethena decentralized finance protocol He sent on Tuesday a proposal to broadcast the next Hyperliquid Stablin, joining a tender race that has already attracted a series of companies such as Paxos, Sky, Frax and Agora.
The Token would be totally supported by the USDTB of Ethena, a stablcoin issued with Digital Digital Digital and fully backed by Buidl, the money background tokenized by the Giant of the Blackrock and Securitize Assets Administration.
“We are excited to allow Ethena USDTB, which is 100% backed by BUIDL and positioned exclusively to offer institutional degree cash management, as well as chain liquidity to hyperlycide users,” said Robert Mitchnick, head of Blackrock digital assets, in the proposal.
If adopted, Ethena promised that 95% of the net income of the USDH reserves would return to the hyperlichid ecosystem, according to the proposal. Ethena also said that it would cover the costs of migrating USDC trade pairs existing in hyperlycides to USDH to relieve adoption.
The proposal occurs as a competition to win the emission of the USDH Stablecoin of the Hyperliquid USDH, intensifies. The decentralized exchange executed almost $ 400 billion in the volume of perpetual negotiation last month, which makes it an attractive market for Stablecoin suppliers to the corner. Darling (previously Makerdao)Paxos, Sky, Frax, Agora and the native markets threw their hat into the ring. The validators are ready to vote on the proposals on September 14.
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