Hyperliquid, the giant behind 80% of decentralized perpetual trading, is launching its own stablecoin USDH—but with a twist. Instead of building it themselves, six major players including Paxos, Ethena, Sky, Frax, Agora, and Native Markets are battling for the right to issue it.
With $5.6B in deposits and $220M in annual revenue on the line, this is the biggest stablecoin auction in DeFi history. The outcome could spark the next phase of the stablecoin wars and reshape the future of DeFi.
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– TIMESTAMPS –
0:00 – Biggest Stablecoin Auction in DeFi History
1:45 – Why Hyperliquid Is Launching USDH
3:20 – Meet the Contenders: Paxos, Ethena, Sky & More
6:10 – Governance, Validators & Community Vote Explained
8:05 – Circle’s $220M Revenue Threat & Wall Street Reaction
10:15 – What This Means for DeFi & the Future of Stablecoins
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#USDH #hyperliquid #stablecoin
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