Запуск стейблкоина USDH от Native Markets на платформе Hyperliquid Translation: Launch of the USDH Stablecoin by Native Markets on the Hyperliquid Platform

Native Markets has launched a stablecoin called USDH on Hyperliquid. Trading has commenced on the USDH/USDC pair, with an initial turnover of approximately $2.1 million.

USDH is the first «stablecoin» created as a result of a vote among Hyperliquid validators. This token operates on the HyperEVM network and is integrated into the exchange’s ecosystem.

In early September, Native Markets won a competition to launch a stablecoin, outperforming proposals from Paxos, Frax, Agora, and other companies.

The issuer has stated that USDH is fully backed by cash and short-term U.S. Treasury bonds. The transparency of reserves is ensured through oracles. A portion of the revenue from managing these reserves will be allocated to buy back HYPE tokens.

The debut of USDH comes amidst a growing trend in the stablecoin segment, with its total market capitalization exceeding $299 billion, according to CoinGecko.

Additionally, in mid-September, a blockchain researcher known as MLM reported on test transactions involving USDC within the HyperEVM framework.