In brief
- Validators will decide the USDH ticker in an on-chain vote scheduled for September 14.
- Hyperliquid claims the ticker carries no special privileges, while analysts see it as a push to reduce reliance on USDC.
- Analyst estimates suggest USDH could divert $5.5 billion from USDC and generate $220 million annually for HYPE holders.
Hyperliquid, a decentralized exchange and Layer-1 chain, is slated to place the USDH ticker through a validator vote this month, testing the role of onchain governance in shaping its stablecoin strategy.
In an update posted Sunday to clarify guidelines, the team behind Hyperliquid said the vote concerns only the ticker and does not grant USDH “any special privileges by nature of its ticker name,” adding that USDH “will be only one of many such stablecoins” for its chain.
USDH is the project’s proposed native U.S. dollar stablecoin, intended to serve as an alternative to bridged assets like USDC.
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Author: Vince Dioquino
