Sky joins bidding war to launch Hyperliquid’s USDH stablecoin
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Sky, formerly Maker, is the fifth major crypto protocol to propose to help issue and manage USDH, a planned stablecoin from Hyperliquid.
Crypto protocol Sky has become the fifth crypto project to launch a bid to help the decentralized perps exchange Hyperliquid launch and issue a stablecoin.
Sky co-founder Rune Christensen on Monday posted his project’s proposal to back Hyperliquid’s USDH stablecoin, offering up Sky’s resources and promising a customizable token with a yield rivaling US treasury bills.
“By using Sky to power USDH, the Hyperliquid community will gain unbeatable advantages that no other stablecoin project can offer,” Christensen said in his pitch.
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