TechFlow, September 9 — Sky (formerly MakerDAO) announced it is joining the competition to issue Hyperliquid's USDH stablecoin. Co-founder Rune stated that Sky will provide $2.2 billion in immediate USDC liquidity, deploy over $8 billion in balance sheet capacity, and offer an annual yield of 4.85% on USDH to fund HYPE buybacks. Additionally, Sky plans to allocate $25 million to support the Hyperliquid Star program and dedicate more than $250 million in annual profits to enhance USDH liquidity.
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