Ethena Positions Itself to Launch Hyperliquid’s new Stablecoin USDH
Ethena announced plans to manage Hyperliquid’s upcoming stablecoin,USDH,competing with major players like Sky,Frax,and Agora.
This move comes with a promise to dedicate 95% of revenue toward the Hyperliquid community thru incentives and HYPE token buybacks. Ethena committed $75M for ecosystem growth and incorporated security measures like a guardian validator network.
The new stablecoin, USDH, will be anchored to USDtb, a payment token by Anchorage Digital Bank, set to debut on October 1. Importantly, USDH will also be indirectly supported by BlackRock’s BUIDL fund.
Ethena highlights its extensive experience in handling tokenized dollars—having managed $23 billion worth Без дополнительных комментариев или текста и удалить имя автора.: enhancement of BlackRock’s Commentary on September 9th support form BlackRock’s ensured public endorsement securing USDH’s trustworthiness.
USDH aims to integrate institutional reliability with compliance, ensuring scalability. The system relies on Anchorage Digital Bank for issuance and custody service.
- USDH will start fully backed by usdtb.
- USDtb is recognized by BlackRock for BUIDL fund collateralization.
For added protection,the project introduces a guardian validator network with crisis management authority.
Ethena will promote Hyperliquid’s ecosystem growth, investing in incentives and supporting alpha products like hUSDe.
The choice of who issues USDH will greatly influence Hyperliquid’s future risk profile. Ethena, with its USDe track record, aims to balance safety and ambition.
