- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
WE-Launch
Ethena Labs Releases Bid Proposal for USDH Issuance Right
BlockBeats News, September 10th. According to official sources, Ethena Labs has joined Hyperliquid's USDH stablecoin issuance competition and released a bid for the USDH issuance right.
Ethena Labs stated that if selected as a USDH issuer, USDH will be 100% backed by USDtb, issued by Anchorage Digital Bank, and fully collateralized by BlackRock BUIDL. Ethena has committed to allocating at least 95% of the net income generated from the USDH reserve back to the Hyperliquid community through HYPE buybacks, reward funds, and other means. Ethena will bear the cost of USDC migration and plans to introduce a liquidity support mechanism to enhance the depth of the USDH in the perpetual contract market.
Ethena has already set aside at least $75 million (composed of cash and token incentives) to support the HIP-3 front-end development for Ethena-related products (including USDe, hUSDe, and USDH), contingent on the approval of this proposal. 50% of the fee revenue generated by these front-ends will be shared with Hyperliquid.
You may also like
Gainers
Latest Crypto News
The People's Bank of China Convenes Meeting of the Coordination Mechanism for Cracking Down on Virtual Currency Transaction Speculation
「1011 Insider Whale」 Opens New 5x ETH Short Position, Reaching $15 Million in Position Size
Today, the Hyperliquid team's address released 2.6 million HYPE from staking.
By 2025, investment institutions have poured nearly $25 billion into cryptocurrency companies, far exceeding market expectations
Yesterday the US Ethereum Spot ETF saw a net inflow of $76.6 million
Customer Support：@weikecs
Business Cooperation：@weikecs
Quant Trading & MM：[email protected]
VIP Services：[email protected]
App