Hyperliquid Unveils New Stablecoin with USDH: Community Voting and Buyback Model

Hyperliquid, a blockchain platform known for its innovative DeFi solutions, is making a significant move towards establishing its own stablecoin called USDH. This initiative utilizes community voting to select the team responsible for developing this crucial asset, ensuring transparent governance of the project’s development. 4% of Hyperliquid’s treasury yield will be allocated to buy back and distribute HYPE, the platform’s native token, creating a unique model that rewards participants directly through growth. This move aims to bolster the value of HYPE while promoting sustainable investment opportunities within the ecosystem.