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HYPE
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$55.65
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The following content is sourced from .

Stablecoins have strong network effects. As a stablecoin issuer, their true value lies in the interoperability and deep integration of the economic distribution chain, rather than in government bond yields.
Therefore, @Frax is willing to return 100% of the profits to the @HyperliquidX community. We believe that its actual value should far exceed profit sharing.
Currently, DEFI is still relatively small compared to traditional finance, with enormous room for growth. This is also an opportunity for various stablecoins. Right now, stablecoins are in a critical window period, and Frax is definitely one of the most promising core players.✊

AB Kuai.Dong
Today is the day when the Hyperliquid stablecoin USDH closes bidding proposals, and there are currently more than 10 companies that have publicly announced their participation in the bidding.
The community also speculates that Hype is to reduce its dependence on USDC and Coinbase, ensure that the initiative is in its own hands, and maximize the benefits of the community.
Participating are:
Ethena: A stablecoin guaranteed by USDTb, 95% of the reserve income is donated to the Hype project and users are reimbursed for migration costs from USDC.
Paxos: U.S.-compliant stablecoin, enterprise-grade settlement and auditing, 95% interest income for HYPE token buybacks and ecological distribution, currently predicted by the community to lead the way, helping Hype expand the U.S. market.
Agora: Formed a bidding alliance with Paradigm, Moonpay, etc., 100% of the net income, returned to Hype officials, used to buy back HYPE tokens, and provided a full set of fiat currency deposit and withdrawal solutions, and the community predicted that it would lead.
Frax: Anchored based on frxUSD, backed by high-quality bonds such as Blackstone's BUIDL fund, providing stable income, 100% of net income is fully returned to Hype officials, and a combination that seamlessly converts with USDT and USDC.
Native Markets: Proposed by the Hype native community, HYPE MicroStrategy representatives, it emphasizes cooperation in deposits and withdrawals, and should give income to community assistance funds and long-term growth for stablecoin issuance, rather than taking it all back.
Curve: Knowing that I can't beat everyone, I hope to collateralize the issuance of on-chain stablecoin dUSDH based on USDH, and then obtain fixed income and share of the stablecoin.
Circle: Although I did not participate in this bidding, I issued a statement saying that I have done a lot for Hype, shedding tears and blood for the party and the country, emphasizing that my USDC is never comparable to other companies in terms of deep liquidity and cross-chain swaps, but I still didn't mention so much income, how to give dividends or buy back HYPE tokens to everyone.

About Hyperliquid (HYPE)
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Latest news about Hyperliquid (HYPE)

Ethena Joins Race for Hyperliquid's Stablecoin With BlackRock-Backed Proposal
Ethena's proposed stablecoin promises to return 95% of revenue to Hyperliquid’s ecosystem.
Sep 10, 2025|CoinDesk

Hyperliquid hits new all-time high above $55 as USDH proposals surge
Hyperliquid reached a new all-time high above $55 today as proposals for USDH gained momentum....
Sep 09, 2025|Crypto Briefing

Sky Pitches Genius-Compliant USDH Stablecoin With $8B Balance Sheet and 4.85% Yield
Formerly MakerDAO, Sky joins Paxos, Frax, Agora and Native Markets in the fight for Hyperliquid’s stablecoin contract.
Sep 09, 2025|CoinDesk
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Hyperliquid FAQ
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OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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