TechFlow news, September 5: Hyperliquid protocol announced it will release the USDH token symbol currently reserved by the protocol through validator voting, to be used for issuing a USD stablecoin native to the Hyperliquid ecosystem.
After the network upgrade, validators will use an on-chain transparent voting mechanism to select the team best suited to build the native minting, Hyperliquid-preferred stablecoin. Interested teams may submit proposals on the forum, including user address information where USDH will be deployed if selected.
As a high-demand standardized token symbol, USDH aims to become a compliant USD stablecoin specifically designed for the Hyperliquid ecosystem. Teams receiving approval must still participate in the regular spot deployment gas auction process after obtaining quorum support from validators.
