{"id":88918,"date":"2025-09-15T11:26:47","date_gmt":"2025-09-15T08:26:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88918"},"modified":"2025-09-15T11:30:16","modified_gmt":"2025-09-15T08:30:16","slug":"native-markets-secures-usdh-ticker-for-hyperliquid","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/native-markets-secures-usdh-ticker-for-hyperliquid\/","title":{"rendered":"Native Markets Secures USDH Ticker for Hyperliquid"},"content":{"rendered":"<p>Following a vote by the Hyperliquid validator community, Native Markets has been granted the rights to the USDH stablecoin ticker for the decentralized exchange ecosystem.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Native Markets has been awarded the USDH ticker on Hyperliquid.<\/p>\n<p>Thank you to all HYPE stakers and network validators for their time and effort in reviewing the proposals put forward.<\/p>\n<p>\u2014 max.hl (@fiege_max) <a href=\"https:\/\/twitter.com\/fiege_max\/status\/1967262666730430866?ref_src=twsrc%5Etfw\">September 14, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The newly established company outperformed several well-known stablecoin sector participants, such as <a href=\"https:\/\/forklog.com\/en\/news\/paxos-to-launch-stablecoin-for-hyperliquid-ecosystem\">Paxos<\/a>, BitGo, Ethena, and Frax Finance, during a week-long competition.<\/p>\n<p>On the prediction market <a href=\"https:\/\/polymarket.com\/event\/who-will-win-the-usdh-ticker-159?tid=1757762040312\">Polymarket<\/a>, investors assessed Native Markets&#8217; chances at nearly 100% just days before the tender concluded.<\/p>\n<p>The company was founded by early Hyperliquid investor Max Feige, blockchain researcher Anish Agnihotri, and former Uniswap Labs president and COO Mary-Catherine Lader.<\/p>\n<p>Some commentators reacted ambiguously to the newcomer&#8217;s lead during the competition.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Starting to feel like the USDH RFP was a bit of a farce.<\/p>\n<p>Hearing from multiple bidders that none of the validators are interested in considering anyone besides Native Markets. It&#8217;s not even a serious discussion, as though there was a backroom deal already done.<\/p>\n<p>Native Markets&#8217;\u2026 <a href=\"https:\/\/t.co\/qrc9xChv6z\">pic.twitter.com\/qrc9xChv6z<\/a><\/p>\n<p>\u2014 Haseeb \uff1e|\uff1c (@hosseeb) <a href=\"https:\/\/twitter.com\/hosseeb\/status\/1965520465172328717?ref_src=twsrc%5Etfw\">September 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Starting to feel like the USDH RFP was a bit of a farce. Hearing from multiple bidders that none of the validators are interested in considering anyone besides Native Markets. It&#8217;s not even a serious discussion, as though there was a backroom deal already done,&#8221; wrote Dragonfly managing partner Haseeb Qureshi.<\/p>\n<\/blockquote>\n<p>He noted that the newly formed company submitted its application almost immediately after the tender announcement, possibly knowing the requirements in advance. Other contenders took a couple of days to prepare their proposals, Qureshi pointed out.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have deep respect for all the teams that submitted proposals and look forward to seeing them bring their ideas for Hyperliquid to life,&#8221; commented Feige on the tender results.<\/p>\n<\/blockquote>\n<p>According to him, Native Markets will &#8220;in the coming days&#8221; begin a closed testing phase of the stablecoin with issuance and redemption transactions up to $800. This will be followed by the opening of the USDH\/USDC spot pair and the removal of transaction limits.<\/p>\n<p>As per the company&#8217;s proposal, the coin will be issued natively on Hyperliquid&#8217;s HyperEVM network. BlackRock will manage the off-chain reserves, while Superstate will handle on-chain assets through the Stripe-owned Bridge platform.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/stablecoins\/Hyperliquid%20L1\">DeFi Llama<\/a>, the total volume of stablecoins on Hyperliquid amounts to $6.22 billion, with approximately 97% accounted for by USDC.<\/p>\n<p>Earlier, Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-to-enhance-integration-with-hyperliquid-ecosystem\">announced<\/a> a &#8220;grand entry&#8221; into the exchange ecosystem, including the launch of native USDC on HyperEVM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a vote by the Hyperliquid validator community, Native Markets has been granted the rights to the USDH stablecoin ticker for the decentralized exchange ecosystem.<\/p>\n","protected":false},"author":1,"featured_media":88919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Native Markets wins USDH ticker for Hyperliquid after community vote.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[787,1823,807],"class_list":["post-88918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dex","tag-hyperliquid","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"464","promo_type":"1","layout_type":"1","short_excerpt":"Native Markets wins USDH ticker for Hyperliquid after community vote.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88918"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88918\/revisions"}],"predecessor-version":[{"id":88920,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88918\/revisions\/88920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88919"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}