Sky joins bidding war to launch Hyperliquid’s USDH stablecoin

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. 

Read more