At present, there are already five companies that have joined the competition for the issuance of the Hyperliquid stablecoin USDH.
They are: Paxos, Ethena, Frax, Agora, Native. There is still a week left until the runoff vote.
Paxos emphasizes compliant stablecoins and is willing to buy back 95% of interest income to buy back HYPE tokens.
Ethena has expressed this intention many times, and its USDe is currently growing rapidly.
Frax BlackRock background, I want to engage in seamless exchange between USDH and USDC and USDT.
Agora has formed a bidding alliance, implying that 100% of the net proceeds will be donated to the Hype platform or used to buy back HYPE tokens.
There is one thing to say, for the first time in the history of the currency circle, looking at various stablecoin issuers, so active, Hyperliquid has indeed created a new history.
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