{"id":46048,"date":"2025-09-05T21:16:52","date_gmt":"2025-09-05T21:16:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=46048"},"modified":"2025-09-05T21:16:52","modified_gmt":"2025-09-05T21:16:52","slug":"popular-dex-hyperliquid-moves-forward-to-launch-proprietary-stablecoin","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=46048","title":{"rendered":"Popular DEX Hyperliquid Moves Forward to Launch Proprietary Stablecoin"},"content":{"rendered":"<div>\n<p>Decentralized exchange Hyperliquid (HYPE) is preparing to launch its own U.S. dollar stablecoin, according to a Friday <a href=\"https:\/\/discord.com\/channels\/1029781241702129716\/1030197017655394447\/1413485439360434238\">announcement<\/a> from the Hyperliquid Foundation on the platform&#8217;s Discord server.<\/p>\n<p>The protocol has reserved the ticker USDH, which validators will soon vote to allocate through an on-chain governance process, the announcement read. Teams interested in deploying USDH can submit proposals, and the winning group will be selected by validator quorum, the post added.<\/p>\n<p>&#8220;The USDH ticker is well-suited for a Hyperliquid-first, Hyperliquid-aligned, and compliant USD stablecoin,&#8221; it said.<\/p>\n<p>Stablecoins are a crucial piece of infrastructure of crypto markets, serving as liquidity and trading pairs to settle most trades. It&#8217;s a $270 billion asset class, currently dominated by Tether&#8217;s USDT and Circle&#8217;s USDC. However, with regulation put into place such as the GENIUS Act in the U.S., industry players increasingly create their own token for their ecosystems. Popular crypto wallet MetaMask is <a href=\"https:\/\/www.coindesk.com\/business\/2025\/08\/20\/stripe-s-bridge-teams-up-with-m0-protocol-to-issue-stablecoins-starting-with-metamask-s-musd\">launching<\/a> a stablecoin with infrastructure provider M0, while payment firm Stripe <a href=\"https:\/\/www.bridge.xyz\/news\/usdb\">created<\/a> its own in-house stablecoin with Bridge.<\/p>\n<p>Hyperliquid\u2019s trading activity suggests there could be immediate demand. The exchange handled $398 billion in perpetual derivatives trading volume and $20 billion in spot trades last month, <a href=\"https:\/\/defillama.com\/protocol\/hyperliquid?dexVolume=true&amp;tvl=false&amp;perpVolume=true&amp;groupBy=monthly\">DefiLlama data<\/a> shows. Circle\u2019s USDC (USDC) currently dominates liquidity, making up 95% of the $5.6 billion stablecoin supply on the network.<\/p>\n<p>By introducing its own stablecoin, Hyperliquid, in theory, could reduce dependency on Circle while capturing revenue from assets backing the token.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/08\/30\/hyperliquid-s-hype-token-why-arthur-hayes-thinks-it-has-126x-upside-potential\">Hyperliquid\u2019s HYPE Token: Why Arthur Hayes Thinks It Has 126x Upside Potential<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized exchange Hyperliquid (HYPE) is preparing to launch its own U.S. dollar stablecoin, according to a Friday announcement from the Hyperliquid Foundation on the platform&#8217;s Discord server. The protocol has reserved the ticker USDH, which validators will soon vote to allocate through an on-chain governance process, the announcement read. Teams interested in deploying USDH can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-46048","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46048"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46048\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}