Bastion Co-founder: Hyperliquidity Migration to USDH should be promoted, with new markets natively supporting USDH

BlockBeats News, September 10th, Bastion Platform co-founder Nass Eddequiouaq stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that they are willing to incentivize the migration of tens of billions of dollars in liquidity from USDC on Hyperliquid to USDH through a cost-reimbursement mechanism. Bastion Platform believes the most important core element is to build a strong flywheel effect: continuously drive the conversion from USDC to USDH through incentive mechanisms and ensure that all new markets built on USDH use USDH natively instead of USDC. We should migrate the existing ecosystem to this community-benefiting financial system, while all new ecosystems should no longer be burdened by the legacy monetary system and must be natively built on top of USDH.

BlockBeats previously reported that last Friday Hyperliquid announced the launch of a "USDH Stablecoin prioritizing Hyperliquid, in line with the Hyperliquid ethos, and compliant," and reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have rapidly entered into the competition for the right to issue the USDH stablecoin.