Hyperliquid’s USDH Stablecoin Vote Sparks $55 HYPE Price Breakout

• Hyperliquid has opened a governance vote to award the reserved ticker USDH to a stablecoin issuer that is “Hyperliquid-first, aligned, compliant, and natively minted”
• The vote is fully on-chain with validator staking power; proposals were due September 10, validator declarations by September 11, and the final vote is set for September 14 at 10:00 UTC
• Major stablecoin issuers are in the mix, including Paxos, Frax Finance, Agora, Ethena Labs, Native Markets, Sky, and others

Hyperliquid has opened a governance vote to award the reserved ticker USDH to a stablecoin issuer that is “Hyperliquid-first, aligned, compliant, and natively minted.” This process means that multiple teams are contending for the right to build a stablecoin under that specific name, and network validators will vote to select the winning proposal.

The vote is fully on-chain with validator s…

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