USDH Stablecoin Goes Live on Hyperliquid, Trading Volume Crosses $2M
The post USDH Stablecoin Goes Live on Hyperliquid, Trading Volume Crosses $2M appeared first on Coinpedia Fintech News
USDH stablecoin is officially live on Hyperliquid, with strong interest from traders and the community.
It has quickly generated over $2 million in early trading volume and is currently trading at $0.99960. With an already impressive volume, this launch represents just the first step in a broader plan to expand USDH across the Hyperliquid ecosystem.
How will this new stablecoin reshape the Hyperliquid network? Everyone’s watching.
USDH Goes Live on HyperEVMThe USDH/USDC spot market is now available on HyperCore, with more than $15 million USDH pre-minted over the past 24 hours. Minted directly on the HyperEVM and aligned with the Assistance Fund, USDH is built to be a first-class stablecoin for the Hyperliquid network.
Native Market’s founder Max Fiege took to X to share that “the next stage of Hyperliquid’s ascendance will be driven by native stablecoins”, and added that USDH will lead the way and support the ecosystem every single day.
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.
According to the proposal, USDH will be issued directly on HyperEVM. The stablecoin will be fully backed by cash and U.S. Treasuries, with off-chain reserves managed by BlackRock and on-chain reserves handled by Superstate via Stripe’s Bridge.
USDH’s reserve earnings are split evenly, with 50% for HYPE buybacks and 50% for ecosystem growth.
Supporting the Assistance FundNative Markets shared that, consistent with the proposed aligned stablecoin framework, its contribution to the Assistance Fund will begin accruing from today. The team noted that $0.50 from every dollar earned by USDH reserves will support the fund, while the rest will be used to grow USDH.
Phased Rollout and Upcoming FeaturesUsers can expect a phased rollout of USDH in the coming months.
Users can expect a phased rollout of USDH over the coming months.
USDH HIP-1 and ERC-20 deployedUSDH / USDC spot order book on HyperCore