Hyperliquid Network is preparing to launch the highly anticipated USDH stablecoin, managed by Native Markets. The testing phase is set to begin shortly.
Management of USDH Stablecoin Launch
Following a vote from HYPE coin stakers, it has been decided that Native Markets will lead the launch of the new altcoin USDH. Max Fiege, co-founder of the company, confirmed the activation of the USDH HIP-1 and ERC-20 contracts on his X account. Initially, transactions for minting and redemption will be capped at $800.
Structure of USDH Reserve Management
The reserve management plan proposed by Native Markets received support due to its clear structure. A portion of the reserves will be managed by BlackRock using cash and US Treasury bonds. Tokenized reserves within the Blockchain will be managed by Superstate, supported by Bridge and Stripe. Half of the reserve income will be allocated to ecosystem development, while the other half will go to the Hyperliquid Assistance Fund. This model aims to ensure the long-term stability of the network.
Plans for Exchange Listings
The Kraken exchange also plans to list both the USDH and HYPE coins. Hyperliquid management has stated that other stablecoins, such as USDC, will continue to be supported if they meet conditions like liquidity depth and a strong peg.
The launch of the USDH stablecoin is expected in the coming days, with success dependent on testing and reserve management that underscores the importance of the selected structure.
