The decentralized trading platform Hyperliquid has announced plans to introduce the USDH stablecoin and reduce trading fees on its spot market.
Validator Voting Process for USDH
An official statement from Hyperliquid’s Discord account revealed that the USDH stablecoin is currently held by the protocol. With the upcoming network update, validators will conduct an on-chain vote to allow user addresses to purchase this coin. The voting will follow the same mechanism used in delist processes on the network.
Fee Reductions and Structural Changes
The new update will reduce trading fees by 80% in trading pairs created between two spot transfer assets. Additionally, market maker incentives and user trade volume contributions will be incorporated into the system, enhancing market depth. Furthermore, spot transfer assets will fully transition to a permissionless structure in the future, initially on the test network before moving to the main network.
Future of the Platform and Role of Validators
The announced changes will reduce transaction costs while strengthening the role of validators. Increasing the responsibilities of validators will be mandatory for network security. Thus, the update aims to establish new standards for both users and teams engaged with the platform.
Hyperliquid's plans to implement the USDH stablecoin and significant changes to trading fee structures may influence decentralized trading in the future.
