Native Markets secured the right to launch the USDH stablecoin on Hyperliquid through a community governance vote. Various proposals from notable organizations were considered in this process.
Hyperliquid Governance Vote Results
A governance vote was held on the Hyperliquid platform, where HYPE token stakers and network validators selected the proposal from Native Markets. Competing submissions included organizations like Paxos, Frax Finance, Sky, and Agora. Some proposals were withdrawn while others did not garner enough support.
Details of USDH Stablecoin Testing
The USDH launch will take place in phases. Initially, users will be allowed to transact with an $800 limit per transaction. This approach is intended to ensure the security and proper functionality of the system.
Next Steps for Native Markets
The team plans to introduce a USDH/USDC trading pair and eliminate transaction limits afterwards. Native Markets is also seeking high-volume traders to test their API during the limited phase, inviting interested parties to contact them directly.
Native Markets' victory in the Hyperliquid vote paves the way for the USDH stablecoin launch, marking a significant step for the decentralized finance ecosystem.
