The Hyperliquid platform has announced plans to launch its own stablecoin, USDH, which will be pegged to the US dollar. This information was shared by the project team in their Discord channel.
This is reported by Finway
Voting on the Launch of USDH and Selection of the Development Team
The final decision regarding the issuance of USDH has not yet been made — it will be put to a vote among validators. Additionally, the question of selecting the team that will develop the stablecoin will also be put to a vote. For this, they plan to use a first-level voting mechanism through transactions, similar to the asset delisting procedure on the platform.
“According to the publication, the decision to issue the asset has not yet been approved. It will be put to a vote among validators, as will the selection of the team that will work on the project.”
Reduction of Fees and New Opportunities for Users
Hyperliquid plans to significantly reduce fees for spot pairs with two quoted currencies — the reduction will be up to 80% for takers, makers, and user contributions. This is expected to enhance liquidity and lower trading costs.
After the implementation of the update, spot quotes will become publicly available. To create a new currency pair, it will be necessary to lock a “minimum” amount of HYPE tokens. The exact parameters and slashing mechanism will be disclosed by the developers soon.
It should be noted that there are currently no mentions of USDH on Hyperliquid’s official resources. Meanwhile, in June 2025, the M0 platform announced the issuance of the USDhl stablecoin, which is set to become an alternative to USDC and USDT within the Hyperliquid ecosystem.
Immediately after the news, the HYPE token showed moderate growth — over the course of a day, the rate increased by 3.4%, although a slight correction was observed later. Below is the price dynamics of HYPE/USDT on the MEXC exchange:
Hyperliquid continues to develop its own infrastructure, implementing innovative solutions for users in the cryptocurrency market.