Lo! The USDH stablecoin has descended upon the Hyperliquid realm, igniting the hearts of traders and the masses alike with fervent anticipation. Ah, two million dollars in mere hours-what a spectacle of modern man’s avarice and ambition! At 0.99960, one might ask: is this a stablecoin or a sardonic jest? 😂
This grand unveiling, though but the first tremor of a seismic shift, promises to shatter the very foundations of the Hyperliquid ecosystem. Or perhaps not. The jury, it seems, is still deliberating in a tavern somewhere. 🍻
USDH Ascends the HyperEVM Throne
The USDH/USDC market now dances upon HyperCore’s stage, a prelude to a symphony of $15 million USDH minted in a single day. A veritable deluge of digital currency, crafted on the HyperEVM and tethered to the Assistance Fund-how poetic, how practical, and yet… how very 2025. 🎭
Max Fiege, that architect of chaos and code, declared on X: “The next stage of Hyperliquid’s ascendance will be driven by native stablecoins.” A noble proclamation, if one ignores the faint scent of hubris wafting through the air. 🤡
USDH is now live for all Hyperliquid users!
The USDH / USDC spot order book is open on HyperCore, with over $15M USDH pre-minted in the last 24 hours.
– Native Markets (@nativemarkets) September 24, 2025
USDH, they say, is backed by cash and U.S. Treasuries-off-chain by BlackRock, on-chain by Superstate via Stripe’s Bridge. A marriage of finance and futurism, or merely a tenuous thread woven from hope and hype? 🤔
Reserve earnings split evenly: 50% for HYPE buybacks, 50% for ecosystem growth. A tale as old as time, yet here it is, draped in blockchain’s shimmering cloak. 💸
The Assistance Fund: A Philanthropy or a Ponzi?
Native Markets, in their infinite wisdom, pledged $0.50 from every dollar earned by USDH reserves to the Assistance Fund. The rest, they claim, will grow USDH. A delicate balance, this-philanthropy and profit, dancing hand-in-hand like two lovers in a noir film. 🕺
The Phased Rollout: A Play in Five Acts
Users, brace yourselves for a phased rollout of USDH. Will it be a masterstroke or a masterclass in mismanagement? Only time shall tell. But let us not forget the roadmap: HIP-1, ERC-20, HyperEVM integrations, and eventually… USDH-margined perps. A journey, perhaps, but one with a destination. 🚀
Users can expect a phased rollout of USDH over the coming months.
USDH HIP-1 and ERC-20 deployed
USDH / USDC spot order book on HyperCore
HyperEVM integrations underway
USDH as a spot quote asset
Native minting on HyperCore
USDH-margined perp order books via HIP-3– Native Markets (@nativemarkets) September 24, 2025
HyperEVM integrations march forward, and USDH shall soon grace the spot market as a quote asset. Native minting on HyperCore? Afoot. USDH-margined perps via HIP-3? A distant dream, perhaps. Or a feverish hallucination. 🔮
Native Markets, victorious in their bid against Paxos, Frax, and Agora, now bask in the glow of their triumph. Yet one wonders: is this victory a crown or a noose? The community, ever the fickle muse, cheers them on. 🎉
And so, dear reader, this launch is but the first act in USDH’s grand opera. Will it sing a hymn of progress or a dirge of folly? The curtain rises… 🎭
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2025-09-24 17:24