The ecosystem of Hyperliquid is on the verge of a major achievement as its native USDH stablecoin is about to be launched. Native Markets has also been able to win a decisive governance vote to have the mandate to manage the rollout of the stablecoin. The proposal was overwhelmingly approved by HYPE token holders, with over 70% of the stakeholders voting in favor of the proposal throughout the platform in its decentralized governance system.
The win makes Native Markets the main operator of the implementation and further operation of USDH in the trading infrastructure of Hyperliquid. The probability of success of Native Markets had been over 90% in market predictions on Polymarket, indicating a high level of confidence in their strategy by the community.
Native Markets co-founder Max Fiege affirmed that USDH implementation will start in days with the HIP-1 protocol implementation. The first launch will be characterized by a controlled launch with a transaction limit of $800 per mint or redemption operation. The high-volume traders will be chosen to trial the API capabilities of the platform prior to the expansion of the platform to the wider market.
The successful proposal of the firm described a complex reserve management framework that included institutional financial providers and blockchain infrastructure vendors. BlackRock will manage off-chain reserves that comprise cash deposits and U.S. Treasury securities to ensure the highest stability and compliance with regulations. Superstate will handle tokenized reserves on-chain, with Bridge and Stripe having a proven stablecoin technology to integrate with the blockchain.
An interesting aspect of the Native Markets strategy is the use of revenue-sharing schemes that are in the favour of the larger Hyperliquid ecosystem members. The reserve earnings will be divided in half between ecosystem development projects and the Assistance Fund of Hyperliquid to support the community. Veterans of the industry who worked at Uniswap Labs, Paradigm, and Polychain Capital also supported the proposal.
After the successful testing stages, USDH will enter the trading space of Hyperliquid alongside Circle USDC, but will continue to support the existing stablecoins. Major exchange Kraken already stated that it would list both USDH and HYPE tokens on its site. The leadership of Hyperliquid has been optimistic regarding the growing ecosystem of Hyperliquid following the launch of the stablecoin, which is nearing completion.
Highlighted Crypto News Today:
Binance Announces Three Avantis Token Trading Pairs; AVNT Price Shoots Up
Also read: Why Is Crypto Down Today? – September 15, 2025
