Hyperliquid to hold vote on introducing stablecoin USDH and to cut spot trading fees
Summary
- Hyperliquid said it will hold an on-chain vote related to introducing its own stablecoin USDH in the next network upgrade.
- It said the USDH issuance team will be selected through an on-chain vote and will have the authority to issue a native stablecoin compatible with Hyperliquid.
- It explained that spot fees and maker rebates for some trading pairs will be reduced by 80%, lowering users' cost burden.
Cryptocurrency derivatives exchange Hyperliquid will hold a vote in the next network upgrade to introduce its own stablecoin USDH and plans to reduce some spot trading fees.
On the 5th, virtual asset-focused media Odaily reported that Hyperliquid will soon conduct an on-chain vote on the issuance of the stablecoin USDH. The selected project will gain the right to issue a native stablecoin USDH compatible with Hyperliquid. Hyperliquid will provide the brand and the USDH ticker, while the team chosen by the vote will be responsible for the actual issuance and operation.
Meanwhile, Hyperliquid also announced a restructuring of the spot market. It said that execution fees, maker rebates, and volume contributions for some trading pairs will be uniformly reduced by 80%, which could lower users' cost burden.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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