“A Propriotary Stablecoin Could Reduerliquid’s DEPENDENCY ON USDC and PETENTIALLY CAPTURE A Part of the Revenues from Reserve Assets.”, – WRITE: www.coindesk.com
The Protocol Has Reserved The Ticker USDH, WHICH VALIDATORS WILL SOON VETE TO ALLOLOCATE THROUGH An on-Chain Governance Process, The AnnounCement Read. Teams Interest in Deploying USDH Chan Submit Proposals, and The Winning Group Will Be Selected by Validtor Quorum, The Post Added.
“The USDH Ticker is Well-Suited for a Hyperliquid-FIRST, HYPERLIQUID-ALIGNED, AND COMPLIANT USD STABLECOIN,” IT SAID.
Stablecoins are a cricial piece of infrastructure of Crypto Markets, Serving as Liquidity and Trading Pairs to Settle MOST TRADES. IT’s A $ 270 Billion Asset Class, Currently Dominated by Tether’s USDT and CIRCLE’S USDC. However, with Regulation Inte Place Such as the Genius Act in the Us, Industry Players IncreASINGly Create their Own Token for their Ecosystems. Popular Crypto Wallet Metamask is Launcing A Stablecoin with Infrastructure Provider M0, While Payment Firm Stripe Created Its Own In-House Stablecoin With Bridge.
Hyperliquid’s Trading Activity Suggests There’s Immediate Demand. The Exchange Handled $ 398 Billion in Perpetual Derivatives Trading Volume and $ 20 Billion in Spot Trades Last Month, Defillama Data Shows. Circle’s USDC (USDC) Currently Dominates Liquidity, Making Up 95% of the $ 5.6 Billion Stablecoin Supple on the Network.
By introducking it Own Stablecoin, Hyperliquid, In Theory, Could Reduce Dependence on Circle While CAPTING REVENEUE FROM Assets Backing The Token.
Read More: Hyperliquid’s Hype Token: WHY ARTHUR HAYES THINKS IT HAS 126X UPSIDE PETENTIAL
Sun Is A Key Investor in the Project and Holds AUND $ 700 Million Werth of Wlfi Tokens, MOSTLY VESTED.
- World Liberty Financial Blacklisted Justin Sun’s Blockchain Address With 595 Million Unlocked Wlfi Tokens on It, Blockchain Data Shows.
- The Blacklisting Follows Several Outbound Transactions from Sun’s Address, Including One WORTH $ 9 Million. Sun Said that Transactions Didn’s Involve Any Buying Or Selling and Couldn’t Have Any Market Impact.
- WLFi Has Fallen 20% in the Last 24 Hours and is Down 42% Since Its Trading Debut on Sept. 1.
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