🚨NEWS IN: $HYPE BUYBACK BY PAXOS🔥🔥🔥
On September 7th, Lookonchain published that there is a significant development for the Hyperliquid ecosystem, regulated stablecoin issuer Paxos has formally submitted a proposal to become the official issuer of the protocol's upcoming USDH stablecoin.
The proposal, titled "Paxos-Supported USDH Issuance," includes a major incentive for HYPE token holders. Paxos has committed to a substantial revenue-sharing model, pledging to allocate 95% of the interest earned from the USDH-backed reserves to buy back $HYPE tokens. These repurchased tokens would then be redistributed to fund ecosystem initiatives, partners, and users.
This move comes just days after Hyperliquid announced the release of the USDH ticker for its native stablecoin. The selection of an issuer will be a transparent, on-chain process decided by validator voting. Interested teams must submit proposals, and approved issuers must still compete in regular gas auctions for spot deployment.
Paxos's entry brings considerable credibility to the process, potentially positioning USDH as a major player in the DeFi stablecoin landscape.
