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Sky Joins Hyperliquid in Competition for USDH Stablecoin Issuance Rights
Summary: In breaking news, Sky (formerly MakerDAO) has joined the competition for USDH stablecoin issuance rights under Hyperliquid. Sky co-founder Rune announced on the X platform: The main advantages Sky offers to Hyperliquid for USDH: USDH will have immediate liquidity of $2.2 billion USDC for off-chain redemption; Sky can deploy its over $8 billion balance sheet ...
In breaking news, Sky (formerly MakerDAO) has joined the competition for USDH stablecoin issuance rights under Hyperliquid. Sky co-founder Rune announced on the X platform:
The main advantages Sky offers to Hyperliquid for USDH:
USDH will have immediate liquidity of $2.2 billion 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 government bond yields, with the 4.85% generated by all USDH going towards the HYPE buyback fund;
Sky can provide $25 million to create an independent Hyperliquid Star project for developing Hyperliquid DeFi autonomously;
Sky can transfer its buyback system to Hyperliquid, using over $250 million in profits annually to build USDH liquidity.
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Link: Sky Joins Hyperliquid in Competition for USDH Stablecoin Issuance Rights [Copy]
