Hyperliquid validators will vote on the USDH stablecoin ticker in the first governance trial beginning this month. The company aims to use the initiative to test the role of on-chain governance in shaping its stablecoin strategy. According to the company’s updated guidelines, the validator vote will only be for the ticker and does not grant USDH any privileges by the nature of its ticker name. The team behind Hyperliquid also disclosed that the USDH stablecoin will be only one of many such dollar-backed digital assets for its chain. Hyperliquid sets deadline for USDH ticker validator voting Hyperliquid introduced proposals from companies to support its USDH stablecoin, which is designed to serve as an alternative to bridged assets like USDC. The deadline for proposals is September 10. The deadline for validators to declare the USDH ticker is September 11, and voting will take place on September 14 between 10:00 and 11:00 UTC. The company also said its base currencies used to denominate trading pairs will become permissionless and will allow anyone to create new pairs without approval after the upcoming technical upgrades. Hyperliquid acknowledged that the Foundation’s validators will align with whichever team secures the most non-Foundation support . The initiative is meant to reduce perceptions of centralized influence while maintaining a stakeholder-based process. The voting has faced some criticism from some existing stablecoin teams on Hyperliquid. The already-established Hyperliquid stablecoin protocol, Hyperstable, claimed that the USDH ticker had previously been blacklisted. The author of the post, who goes simply by Max, argued that it was unfair for the company to change as many builders have already launched months prior. He urged the foundation to keep the USDH ticker blacklisted indefinitely or build an in-house stablecoin themselves if the company wants to maintain its reputation for being credible and neutral toward all current and future teams building on HyperEVM. The apparent co-founder of Hyperliquid DEX aggregator LiquidLaunch, Shisho, refuted Max’s claims, saying that the goal posts had not changed. Shisho explained that the regulatory environment changed following the signing of the GENIUS Act into law. Jaehyun Ha, research analyst at quantitative trading firm Presto, argued that the ticker voting initiative shows that Hyperliquid is positioning itself in opposition to the centralized control characteristic of many exchanges. He also believes the initiative elevates community oversight and transparency as central pillars of the company’s strategy. Circle seeks to deploy USDC on HyperEVM Circle also revealed plans to deploy its native USDC stablecoin and CCTP V2 on HyperEVM. The company hopes to include USDC deposits in HyperCore and HyperEVM apps. The stablecoin issuer said USDC will offer a regulated and fully reserved digital dollar on Hyperliquid. The company also hopes the initiative will enable institutional on/offramps like Circle Mint, as well as integrate easily into HyperEVM apps. Circle believes its CCTP V2 will help developers to allow users to move USDC between the firm and Hyperliquid. The company said the initiative will have a 1:1 capital efficiency. The stablecoin issuer added that the Cross-Chain Transfer Protocol will allow the development of applications for cross-chain onboarding. As previously reported by Cryptopolitan, Paxos Labs seeks to support the USDH stablecoin on its platform. The firm revealed plans to use 95% of the USDH yield to buy back and redistribute HYPE back to ecosystem initiatives. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
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