Altcoins News
By Dan Saada
1 / 15
Current Standings: Native Markets Ahead, But Rivals Close Behind. Following Native Markets, the closest competitors are Paxos Labs, regulated in New York, with 7.
2 / 15
The Undecided Whales Could Decide the Outcome. The final result will largely depend on where these major validators place their votes.
3 / 15
A Prize Beyond Measure. The stakes in this race are unprecedented. Hyperliquid currently holds $5.
4 / 15
Strategic Implications for DeFi. Winning this vote would not just mean minting a new stablecoin; it would provide the victor with…
5 / 15
Looking Ahead. As the vote continues, all eyes are on the undecided validators and major institutional…
6 / 15
The race to select Hyperliquid’s native stablecoin, USDH, is heating up, with the Stripe-aligned Native Markets team taking an early lead.
7 / 15
The vote is high stakes. The winner will control a $5.5 billion prize in USDC deposits and gain influence over one of the fastest-growing decentralized finance (DeFi) exchanges.
8 / 15
Following Native Markets, the closest competitors are Paxos Labs, regulated in New York, with 7.6% of votes, and the innovative Ethena team, holding 4.5%.
9 / 15
Despite Native Markets’ early momentum, more than half of the total stake—around 57%—is still unassigned.
10 / 15
The final result will largely depend on where these major validators place their votes. Their decisions will determine whether Native Markets’ early lead becomes a decisive…
11 / 15
Each vote in this high-stakes scenario carries significant weight, as the winning stablecoin will directly influence Hyperliquid’s massive financial ecosystem.
12 / 15
The stakes in this race are unprecedented. Hyperliquid currently holds $5.5 billion in USDC deposits, which amounts to roughly 7.5% of the total circulating USDC supply.
13 / 15
Contenders have pitched ambitious plans to attract validator support. Paxos has promised to use 95% of its earnings to buy back Hyperliquid’s native HYPE token, while Frax has…
14 / 15
Winning this vote would not just mean minting a new stablecoin; it would provide the victor with the opportunity to shape the future financial rail of Hyperliquid’s ecosystem.
15 / 15
Moreover, the integration of USDH would affect liquidity, market dynamics, and potentially the pricing of other stablecoins.
The Currency Analytics
Want the full story?