The biggest crypto project to fight for USDH Stablecoin

High fat Suddenly, a flock of suitors make passionate pleas for marriage hands and create USDH Stablecoin.

It was a drama that kicked off last week and now reached a passionate pitch as some of the biggest crypto companies highly competitive The USDH ticker that is sought– Repeated on Sunday with votes in chains by high lipid stakeholders.

Large companies like Paxos, Sky and Frax Finance have thrown hats in the ring alongside Ethena and are backed by BlackRock executives. Still, it appears that the new and relatively unknown teams in the native market are at the forefront of the present.

High lipids are a Distributed Exchangespecialized in permanent futures trading, and it lives by the same thing in its own dedicated layer-1 network. At the time of writing, there are approximately $5.84 billion in stubcoins on the network. The fifth largest total of all blockchains, per defill—USDC accounts for 94.9% of the network’s stubcoins. Over the past 24 hours, he has been responsible for a whopping $1.076 billion in trading volume, solidifying his position as a key component of the chain economy.

Due to its unique stability, the high lipids are intended to avoid the biggest players in the space, such as Circle’s USDC and Tether’s USDT, and themselves are intended to protect the revenue these terminology coins generate.

According to the high lipid base, “special privileges” are not accepted in tokens, but Crypto Heavyweights is currently fighting for an opportunity to control USDH tickers. The foundation said the final stubcoin must be “Hyperliquid-first” and “Hyperliquid-Aligned” create frameworks that somehow return revenue to the ecosystem.

Anyone who ultimately launched USDH Stablecoin will benefit immensely from the growing high lipid community that accepts tokens Network Stablecoin.

High-liquid specimen factor, the responsible for protecting the network, must state their intentions for the vote by early Sunday and give users time to wager on validators that match their vote before the winner of the USDH competition is officially determined on the same day.

The issuers of conflicts to launch USDH Stablecoin on Hyperliquid are:

Native Market

It was specially established to “build the best and stupid things” for high lipids. SubsackNative Market began work “a few months ago” and asked about USDH tickers and informed the High Lipid Lab of its plan.

It suggests creating a ridiculous stubcoin that complies with genius behaviour, referring to the major stable laws in the United States that President Donald Trump recently signed into law. That’s a plan bridge– Platforms acquired by payment giants stripe In 2024, we will manage the preparations.

The native market contributes half of the yields generated from these reserves towards the USDH growth partnership, with the other half being Support Funda protocol-driven buyback fund.

“We are ready to launch a community-lined Stablecoin within a few days,” Native Market wrote on Substack Monday. Already, a Upper High Lipid Validator Called the CMI, it has moved forward and demonstrated support for the proposal.

At the moment, market sentiment is a number of key figures in the Crypto industry, but it has placed the native market as an overwhelming favourite to win the bids of USDH tickers. It came out before Suggest what the organization has received Unfair advantages.

Ecena x Black Rock

Esena especially took part in the race on Tuesday, supporting it from BlackRock, the world’s largest asset manager. Ecena is the publisher of the third largest Stablecoin by market capitalization, USDE and PER Co Ringeckobehind the tethers and circles of industry giants.

suggestion It suggests Esena USDTBthis is the seventh largest Stablecoin, which supports USDH and gives indirect collateral from BlackRock’s Buidl fund. Money Market Fund. Robert Mitchinik, head of BlackRock’s digital assets, provided a statement claiming that the token is “a uniquely positioned to provide agency-grade cash management.”

In addition to this, Ecena says 95% of the revenue generated by the USDH reserve will be given to the support fund or used to purchase hype, a native token for high lipid networks.

Also suggests that Ethena covers all transaction costs associated with making USDH the best Stablecoin of high lipids. For example, the cost of removing exchange pairs of high lipid trading pairs of USDH instead of USDC.

Pax

Established Stablecoin Company Pax– Publishers such as Pax Gold, Global Dollar are also very important to the mix.

Paxos’ proposal argues that its tokens not only comply with genius, but also comply with global regulations, including the European MICA. It also proposes a fiat-on-ramp via SWIFT, ACH and wire transfers, and plans to enable actual USDH payments. Additionally, I’m trying to support Hyperliquid tokens Paxos’ intermediary platform, It is used by PayPal, Venmo, etc.

Finally, 95% of the interest is used to purchase hype and redistribute to applications and baritators, rather than revenue from reserves supporting USDH.

Sky (Makeroo)

The giant sky of Ethereum Defi, formerly known as Makerdao, took part in the USDH race on Monday.

Sky is the publisher of the fourth largest Stablecoin by USDS, formerly known as DAI, market capitalization, USDS, which is the largest decentralized stubcoin in the market.

Unlike the pack, Sky’s proposal suggests that USDH is natively multichine (i.e. available simultaneously across various blockchain networks), with Layerzero, increasing security track record and risk management.

Sky also says it will deploy a portion of its balance sheet to high lipids, purchase hype with its profits, and grant a 4.85% return on USDH to the high lipid community.

now

Agora, the issuer of AUSD, the 29th largest stubcoin by market capitalization, directly invoked the native market’s dependence on stripes, pointing out “clear conflicts” as Stripe constructed its own. Tempo Layer-1 Network– Guesting that stripe will make you want to push the user to the tempo more than high lipids.

now I’ll suggest We boast of Vaneck as our asset manager to get complete control over the issuance of Stablecoin itself. It says it will share 100% of its net revenue with the support fund or buy back the hype, and as with the rest, it promises to follow the genius.

“We are urgently cautious about using Stripe (Bridge) as an publisher,” writes Nick Van Eck, co-founder of Agora. “Operating facility-grade liquid stubcoins on a global scale is challenging and we are urged by our community to select experienced partners set up for the long-term success of this initiative.”

Flux Finance

The mystical proposal by FRAX Finance suggests a “alignment with FRAX-led US bank issuers” to issue USDH. However, due to short windows and legal implications, the proposal cannot disclose the name of the issuer.

That said, the proposal states that USDH will be supported by the US Treasury via tokenized funds, in accordance with the genius and will somehow return the overall Treasury yield to high lipids.

others

There are many more suggestions for USDH Hunt from lesser known entities.

For example, one would burn a USDH ticker; A true flea market environment. Another, very obvious joke is written by someone pretending to be Jeff Yang, the high-lipid co-founder and CEO. Floor meme style He then states, “The chart makes Zig-Zag.”

Another more serious suggestion includes that Openeden100% of its fees cycles through hype purchases and distribution to network variators.

For many people, USDH enthusiasts are the most common exciting that On-Chain Governance It has been around for a long time. It all builds up to the main event on Sunday when the high lipid validators make the final vote.