Hyperliquid will release the USDH token symbol for stablecoin issuance

ChainCatcher news, according to official sources, Hyperliquid has announced that it will release the USDH token symbol currently held by the protocol through validator voting, for the issuance of USD stablecoins in the Hyperliquid ecosystem.

After the network upgrade, validators will choose the most suitable teams for building native minting and Hyperliquid priority stablecoins through an on-chain transparent voting mechanism. Interested teams can submit proposals in the forum, including user address information for deploying USDH if selected.

USDH, as a highly demanded standard token symbol, aims to become a compliant USD stablecoin specifically designed for the Hyperliquid ecosystem. Approved teams, after receiving support from the required number of validators, will still need to participate in the regular gas bidding process for spot deployment.