🎯 CIRCLE JOINS HYPERLIQUID, REVAMPING EVERYTHING FOR STABLECOINS 🎯
Circle has acquired USDH and its deployer, announcing that it will gradually be replaced by USDC within Hyperliquid.
This is a massive strategic shift for one of the hottest protocols right now.
USDH was the native stablecoin of Hyperliquid and had a key feature: it redistributed 50% of the revenue generated offchain (like yields on government bonds) directly to the protocol.
With this acquisition, the model not only remains intact but expands: even the USDC on Hyperliquid (currently around 5 billion) will generate the same revenue stream, with 50% allocated to the protocol.
This means a significant potential boost to Hyperliquid's earnings, without having to bear the risks and complexities of a proprietary stablecoin.
Not only that: Circle has also staked an unspecified amount of HYPE, signaling a strong strategic alignment with the protocol.
The result?
Hyperliquid gains in liquidity, credibility, and attractiveness, especially for institutional traders who prefer USDC over less established stablecoins.
The market reacted immediately: HYPE is surging after the news, reflecting the excitement for this integration.
#breakingnews #Circle #Hyperliquid #stablecoin $HYPE $CRCL