🚨 LATEST: Paxos proposes Hyperliquid-first stablecoin $USDH, with 95% of yield from reserves funding $HYPE token buybacks redistributing it to users, validators and partner protocols. https://t.co/8uNNWDED8x ...

Stablecoin Competition - Paxos, Frax, and Agora are competing for Hyperliquid's USDH stablecoin contract [1] - More bids for the contract are expected [1]

Paxos co-founder has said they will be buying $HYPE for "alignment" as well as part of the proposal for the stablecoin:https://t.co/QwkyE9mbye0xngmi (@0xngmi):paxos proposing to spend 95% of interest earned in HYPE buybacksusing the current bond/cash ratio of USDC, if USDH replaces USDC in hyperliquid, that'd be an extra 191m/yr in buybacks https://t.co/AZjqFNj4Hy ...

RT Ignas | DeFi (@DefiIgnas)Paxos proposes 95% of interest from reserves to buy back $HYPEOn top, USDH would be fully compliant stablecoin with GENIUS and MICA as well as offering banking rails to on/offramp USD.Hard to beat proposal.Hyperliquid https://t.co/NJmzfClY4k ...

hyperliquid operating as an exchange + L1 + native stablecoin is quite the trifectaRamen🍜 (@Ramen_HL):This is the strongest proposal yet and I feel comfortable endorsing @PaxosI feel strongly that the team responsible for undertaking this project should have experience in stablecoin issuance AND have native ties to HyperliquidPaxos checks both boxes, albeit the native to https://t.co/8VoVP4p5NC ...

Stablecoin & Partnership - Paxos proposes to support Hyperliquid's launch of the USDH stablecoin [1] - USDH issued by Paxos aims for global distribution compliant with the GENIUS regulatory framework [1] - The partnership includes a revenue-sharing mechanism supporting HYPE, the protocol, and validators [1] Revenue & Tokenomics - Paxos will use 95% of the interest generated by its reserves supporting USDH to repurchase HYPE [1] Growth & Compliance - The collaboration ensures compliance and scale to match Hyperliquid's rapid growth [1]

hyperliquid holds $5.3b usdc. 7.6% of total supply. usdh proposals competing to give 95% of yield for hype buybacks. paxos, frax, ethena all promising the same structural bid. $200m annual buying pressure guaranteed regardless of winner. the protocol already won before voting starts. ...

Great point here:Paxos moving from Binance to HL would be a fun twist of events.https://t.co/tlX18BI8xIaltoshi (@stablealt):just a fun fact: BUSD, Binance’s stablecoin, was issued by Paxosit would be pretty ironic if USDH, Hyperliquid’s stablecoin, ended up being issued by the same company.Paxos are willing to use 95% of yield to buyback HYPE & redistribute back to the community.I don’t think ...

Paxos proposes 95% of interest from reserves to buy back $HYPEOn top, USDH would be fully compliant stablecoin with GENIUS and MICA as well as offering banking rails to on/offramp USD.Hard to beat proposal.Hyperliquid https://t.co/NJmzfClY4kPaxos (@Paxos):Proposal submitted: USDH powered by PaxosUSDH issued by Paxos would mean:❏ Global issuance that is GENIUS compliant❏ Revenue sharing that fuels HYPE, protocols and validators❏ Regulatory clarity + global scale to match @HyperliquidX's explosive growthHyper ...

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