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Competition for the Issuance of Hyperliquid’s USDH Stablecoin: Who Will Win?

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by Giorgi Kostiuk

2 days ago

The cryptocurrency world is witnessing an important competition for the future of Hyperliquid’s native stablecoin, USDH, with major players presenting their visions.

Who’s Vying for the USDH Stablecoin Issuance?

Currently, two major players are in the race to issue the USDH stablecoin — OpenEden, a platform for tokenizing real-world assets, and BitGo, a global digital asset custodian. Their bids signify notable interest in this evolving space.

OpenEden’s Bold Proposal: Fueling Hyperliquid with EDEN Tokens

OpenEden has proposed allocating 3% of its native EDEN token supply to support the Hyperliquid ecosystem. This plan aims to encourage participation and development within Hyperliquid.

BitGo’s Strategic Play: Reinvesting for Hyperliquid’s Growth and USDH Stablecoin Stability

BitGo offers a distinct strategy that emphasizes a sustainable revenue model to support the Hyperliquid ecosystem. They plan to reinvest revenue generated from USDH reserves and provide consistent backing.

The competition for the issuance of the USDH stablecoin is a significant development that will influence both the stability of the stablecoin and the growth of the Hyperliquid ecosystem. The choice of issuer is crucial.

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