Ethena Labs publishes proposal to bid for Hyperliquid’s USDH stablecoin issuance rights

Ethena Labs has published a proposal, requesting the community and validators to consider the USDH token identifier. The proposal proposes a stablecoin built on the Hyperliquid platform. This stablecoin will leverage the expertise and resources of Ethena and its partners, with a strong emphasis on security, community engagement, and regulatory compliance. Ethena is committed to investing significant financial and human resources to establish USDH as a leading stablecoin for Hyperliquid users and developers.