Sky Joins USDH Stablecoin Bidding War as Fifth Major Protocol

Sky Protocol joined the intensifying competition to issue Hyperliquid's USDH stablecoin as the fifth major bidder, promising 4.85% yields and $25 million in ecosystem development funding while leveraging its proven seven-year security track record managing over $8 billion across USDS and DAI stablecoins amid growing coalition pushback against frontrunner Stripe's Bridge proposal.