Kraken Adds Hyperliquid’s USDH Stablecoin & HYPE Token for Improved DeFi Liquidity

Cryptocurrency exchange Kraken has announced plans to list Hyperliquid’s USDH stablecoin and HYPE token, a move designed to enhance liquidity and integration within the decentralized finance (DeFi) ecosystem. Hyperliquid’s USDH aims to address liquidity challenges by utilizing reserve interest generated from stablecoin returns to repurchase HYPE tokens. This innovative mechanism seeks to redistribute value across various stakeholders in the Hyperliquid ecosystem. 95% of USDH’s reserve interest will be allocated to buy back HYPE tokens, offering significant benefits for users and protocols.