Paxos Unveils USDH: A Stablecoin Driven by Rewards for Hyperliquid’s Growth

Paxos, a leading financial technology company, has announced the launch of USDH, a US dollar-pegged stablecoin designed to power Hyperliquid’s ecosystem. This innovative approach incorporates a unique built-in rewards engine. Nearly all interest generated by the stablecoin’s reserves (95%) will be allocated towards repurchase of HYPE, Hyperliquid’s native asset. These HYPE tokens then circulate through the network, incentivizing validators, developers, and active users. This mechanism aims to directly connect the stablecoin with Hyperliquid’s growth, strengthening incentives across the entire ecosystem.