Sky joins the competition for the issuance rights of the USDH stablecoin under Hyperliquid

By: theblockbeats.news|2025/09/09 08:42:38

BlockBeats News, September 9th, Sky (formerly MakerDAO) joined the Hyperliquid-backed USDH stablecoin issuance competition. Sky co-founder Rune stated in a post on Platform X: "Sky's key advantages for Hyperliquid's USDH are as follows:

· USDH will receive $2.2 billion in instant liquidity from USDC for off-chain redemption;

· Sky can deploy its over $8 billion balance sheet to Hyperliquid;

· All USDH on Hyperliquid can earn a 4.85% yield, higher than the government bond yield, with the 4.85% yield generated by all USDH used for the HYPE buyback fund;

· Sky can provide $25 million to create an independent Hyperliquid Star project for self-development of Hyperliquid DeFi;

· Sky can migrate its buyback system to Hyperliquid, leveraging over $250 million in annual profits to build USDH liquidity."

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