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加密货币新闻

Hyperliquid的USDH Stablecoin:本地市场在Defi中大胆的举动

2025/09/25 04:45

探索USDH在超级流动性,本地市场的胜利以及对平台生态系统和更广泛的Defi景观的潜在影响上的推出。

Hyperliquid的USDH Stablecoin:本地市场在Defi中大胆的举动

Hyperliquid's USDH Stablecoin: Native Markets' Bold Move in DeFi

Hyperliquid的USDH Stablecoin:本地市场在Defi中大胆的举动

The buzz is real! Hyperliquid's new USDH stablecoin, powered by Native Markets, is making waves. Early trading volume hit over $2 million, and everyone's watching to see how it reshapes the network. It signifies Hyperliquid's ambition to evolve into a self-sustaining financial ecosystem.

嗡嗡声是真实的!由本地市场提供支持的Hyperliquid的新的USDH Stablecoin正在浪潮。早期交易量超过200万美元,每个人都在关注它如何重塑网络。它表示超流动性发展成为自我维持的金融生态系统的野心。

The Rise of USDH on Hyperliquid

USDH的兴起

USDH has officially launched on Hyperliquid's HyperEVM, marking a significant step towards platform independence. Native Markets secured the win to issue Hyperliquid’s native stablecoin, beating out established players. Over $15 million USDH was pre-minted in the first 24 hours, showing strong initial interest from traders.

USDH已正式在Hyperliquid的HypereVM上启动,这标志着朝着平台独立性迈出的重要一步。当地市场获得了发行超流动性的本地stablecoin的胜利,击败了既定的球员。在最初的24小时内预先宣传了超过1500万美元,表明交易者的初始兴趣强。

Native Markets: A Strategic Victory

土著市场:战略胜利

Native Markets' victory in the stablecoin competition was unexpected. Despite offering lower revenue sharing (50%) compared to competitors (95-100%), their deep platform integration and community alignment proved decisive. This win underscores the importance of ecosystem alignment over pure financial incentives.

当地市场在Stablecoin比赛中的胜利是出乎意料的。尽管与竞争对手(95-100%)相比,其收入共享较低(50%),但他们的深层平台集成和社区一致性证明是决定性的。这场胜利强调了生态系统一致性对纯财务激励措施的重要性。

USDH's Technical Structure and Benefits

USDH的技术结构和利益

USDH operates natively on Hyperliquid’s HyperEVM network, backed by cash and short-term U.S. Treasury securities. BlackRock manages off-chain assets, while Superstate handles on-chain reserves via Stripe’s Bridge. A key feature is the dual reserve system where reserve earnings are split: half goes to HYPE token buybacks, and the other half supports ecosystem growth, creating continuous demand for HYPE.

USDH在Hyperliquid的HypereVM网络上本地运营,并得到现金和短期美国财政证券的支持。贝莱德(Blackrock)管理链资产,而Sustertate通过Stripe的桥梁处理链储备。一个关键功能是储备金分配的双储备系统:一半用于炒作代币回购,而另一半则支持生态系统的增长,从而持续炒作。

Market Impact and Potential Revenue

市场影响和潜在收入

The launch of USDH could significantly impact Hyperliquid’s economics. A complete migration from USDC to USDH could potentially generate $220 million in annual revenue for HYPE holders, based on 4% yield assumptions. Currently, USDC represents over 90% of platform deposits, with most interest earnings flowing to Circle. USDH aims to change that by capturing those yields internally.

USDH的推出可能会极大地影响超流动性的经济学。基于4%的收益率假设,从USDC到USDH的完整迁移可能会为HYPE持有人的年收入带来2.2亿美元的收入。目前,USDC占平台存款的90%以上,大多数利息收益流向了Circle。 USDH的目的是通过内部捕获这些收益率来改变这一点。

Challenges and Competition

挑战和竞争

While the launch is promising, USDH faces challenges. It must compete with established stablecoins and maintain stability and user trust. Additionally, Hyperliquid faces growing competition from platforms like Aster DEX, which has even surpassed Hyperliquid in daily revenue at times. It is worth noting that Aster DEX is planning for an “Aster Chain”.

尽管发布很有希望,但USDH面临着挑战。它必须与已建立的Stablecoins竞争,并保持稳定性和用户信任。此外,超级流动性的面临着诸如Aster Dex之类的平台的竞争,该平台有时甚至超过了每日收入的超流动性。值得注意的是,Aster Dex正在计划“ Aster链”。

Phased Rollout and Future Plans

分阶段推出和未来计划

Native Markets is implementing a phased rollout for USDH. HyperEVM integrations are underway, with plans to make USDH a quote asset on the spot market. Native minting on HyperCore will soon be available, followed by USDH-margined perpetual order books. The initial phase targeted a limited user group before opening the USDH/USDC spot pair and removing transaction limits.

本地市场正在实施USDH的分阶段推出。 HypereVM集成正在进行中,并计划使USDH成为现货市场上的报价资产。 HyperCore上的本地铸造很快就会出现,其次是USDH划分的永久订单书。初始阶段针对有限的用户组,然后打开USDH/USDC点对并删除交易限制。

Final Thoughts

最后的想法

USDH represents more than just a new stablecoin; it's a strategic move by Hyperliquid to build a self-sufficient ecosystem. With strong backing, community support, and a clear roadmap, USDH is poised to make a significant impact. The team noted that $0.50 from every dollar earned by USDH reserves will support the fund, while the rest will be used to grow USDH. Will it dethrone the reigning stablecoin champs? Only time will tell, but one thing's for sure: the game just got a whole lot more interesting! So buckle up, crypto enthusiasts, it's going to be a wild ride!

USDH不仅代表了新的Stablecoin;这是建立一个自给自足的生态系统的杂种战略举动。有了强烈的支持,社区支持和明确的路线图,USDH准备产生重大影响。该团队指出,USDH储备金每收入的每一美元的0.50美元将支持该基金,而其余的将用于增加USDH。它会剥夺统治的Stablecoin冠军吗?只有时间会说明,但是可以肯定的是:游戏变得更加有趣!因此,加密爱好者搭扣,这将是一次疯狂的旅程!

原文来源:bravenewcoin

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