超流动性，USDH Stablecoin和Defi Growth：一个新时代？

探索超流动性的USDH Stablecoin发射，其对DEFI的影响以及该平台在分散的交换环境中的令人印象深刻的增长。

Hyperliquid, USDH Stablecoin, and DeFi Growth: A New Era?

超流动性，USDH Stablecoin和Defi Growth：一个新时代？

Hyperliquid's potential USDH stablecoin is poised to shake up DeFi, promising benefits and competition. Let's dive in!

Hyperliquid的潜在USDH Stablecoin准备好动摇Defi，有希望的好处和竞争。让我们潜入！

Hyperliquid's USDH Stablecoin: A Game Changer?

Hyperliquid的USDH Stablecoin：改变游戏规则的人？

Hyperliquid, a decentralized perpetuals exchange, is gearing up to launch its native stablecoin, USDH. The move, announced in early September, has the crypto world buzzing. USDH is touted as a "Hyperliquid-first and compliant" stablecoin, pegged to the U.S. dollar. But unlike traditional stablecoin launches, Hyperliquid is opening up the development process to competition. Validators will vote on the best team to build USDH, and even then, the chosen team must win a gas auction. It's a wild west of DeFi innovation!

超级流动性是一种分散的永久性交易所，正准备推出其本地stablecoin USDH。这一举动于9月初宣布，引起了加密世界的嗡嗡声。 USDH被吹捧为“超级典型和兼容”的稳定股，与美元挂钩。但是，与传统的Stablecoin发射不同，Hyproliquid正在开放竞争的开发过程。验证者将对最佳的团队投票，以建造USDH，即使到那时，选定的团队也必须赢得汽油拍卖。这是Defi Innovation的野外！

Impact on DeFi and Stablecoin Dominance

对Defi和Stablecoin优势的影响

This launch could significantly impact existing stablecoin providers, particularly Circle's USDC, which currently dominates derivatives trading on Hyperliquid. With billions in USDC deposits on the platform, a migration to USDH could generate substantial annualized revenue for HYPE token holders. Of course, that would mean a revenue cut for Circle and a reduction in USDC's outstanding supply. Competition is fierce in the stablecoin arena, with Tether's USDT currently holding a dominant market share. The total stablecoin market capitalization is growing, driven by institutional adoption and clearer regulation.

该发布可能会严重影响现有的Stablecoin提供商，尤其是Circle的USDC，该公司目前在超流动性上占主导地位。该平台上有数十亿美元的USDC存款，向USDH迁移可能会为炒作令牌持有人带来大量的年度收入。当然，这将意味着减少圈子的收入，并减少USDC的未偿还供应。 Stablecoin竞技场的竞争激烈，Tether的USDT目前拥有主要的市场份额。由机构采用和更清晰的法规驱动，总稳定市值正在增长。

Hyperliquid's Growth Trajectory

超流动的生长轨迹

Hyperliquid has been on a roll, capturing a significant share of the decentralized perpetual derivatives market. The platform boasts impressive daily trading volume and total value locked (TVL). Its fully on-chain order book and low-latency finality have allowed it to rival centralized exchanges. The native HYPE token has mirrored this momentum, reaching record highs. Hyperliquid's success is attributed to its focus on on-chain liquidity and builder-first incentives.

超流动性一直在卷中，捕获了分散的永久衍生品市场的很大一部分。该平台拥有令人印象深刻的日常交易量和总价值锁定（TVL）。它的完全链订单和低延迟的终结性使其可以与集中交易所相抗衡。本地炒作令牌已经反映了这一势头，达到了创纪录的高点。 Hyperliquid的成功归因于其专注于链上流动性和建造者优先的激励措施。

Other Key Upgrades and Innovations

其他关键升级和创新

Alongside the USDH stablecoin launch, Hyperliquid is also implementing other upgrades to improve trading efficiency. These include reducing fees and rebates for spot pairs involving two quote assets, aiming to deepen liquidity and lower barriers for traders. The platform also plans to expand access to spot quote assets, making them permissionless, starting on the testnet. These measures are designed to align user incentives while decentralizing participation in the exchange.

除了USDH Stablecoin的发布之外，Hyproliquid还正在实施其他升级以提高交易效率。其中包括减少涉及两个报价资产的现货对的费用和回扣，旨在加深流动性和较低的交易者障碍。该平台还计划扩大对现场报价资产的访问，从而从测试网上开始，使其无权许可。这些措施旨在使用户激励措施保持一致，同时分散参与交易所。

The Future of Hyperliquid and DeFi

超流动和defi的未来

Hyperliquid's strategic moves, including the USDH stablecoin launch and other platform upgrades, position it as a major player in the evolving DeFi landscape. The platform's growth, driven by innovation and a focus on user incentives, is a testament to the potential of decentralized exchanges. While risks and challenges remain, Hyperliquid's trajectory suggests a bright future for the platform and the broader DeFi ecosystem.

Hyperliquid的战略举动，包括USDH Stablecoin发布和其他平台升级，将其定位为不断发展的Defi景观中的主要参与者。该平台的增长是由创新和关注用户激励措施驱动的，这证明了分散交流的潜力。尽管仍然存在风险和挑战，但Hyperliquid的轨迹表明平台和更广泛的Defi生态系统的前途光明。

Personal Take: Bullish on USDH and Hyperliquid

个人看法：看涨USDH和超流动

Okay, let's be real. I'm pretty bullish on Hyperliquid and USDH. The governance-driven launch is innovative, and the competition among development teams should lead to a robust and reliable stablecoin. Plus, the potential for HYPE token holders to benefit from USDH adoption is a major win. Of course, nothing in crypto is guaranteed, but Hyperliquid's track record and strategic approach make it a project worth watching closely.

好吧，让我们成为现实。我对超流动和USDH的看法很看好。以治理为导向的推出具有创新性，开发团队之间的竞争应导致强大而可靠的Stablecoin。另外，大肆宣传令牌持有人从USDH采用中受益的潜力是一项重大胜利。当然，保证了加密货币中的任何内容，但是Hyplliquid的往绩和战略方法使它成为一个值得关注的项目。

Final Thoughts

最后的想法

So, will Hyperliquid's USDH stablecoin dethrone USDC? Will Hyperliquid continue its reign in the decentralized derivatives market? Only time will tell. But one thing is for sure: the DeFi space is about to get a whole lot more interesting. Buckle up, buttercups! It's gonna be a wild ride!

那么，Hyperliquid的USDH Stablecoin Dethrone USDC会吗？超流动性会继续在分散的衍生品市场中继续统治吗？只有时间会证明。但是可以肯定的是：Defi空间将变得更加有趣。系好，毛cup！这将是一个疯狂的旅程！