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BlockBeats News, on September 9, Sky co-founder Rune stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that decentralization is the original intention for our participation in cryptocurrency. The fact that traditional financial systems are beginning to accept and embrace cryptocurrency by providing licenses and compliance mechanisms serves as a great bridge. We need to advance in a way that neither abandons the core advantages of decentralization nor loses the original characteristics of cryptocurrency. The approach that Sky provides to the HyperLiquid community for USDH is to initially launch a fully decentralized stablecoin. The design of decentralized stablecoins naturally comes with many protective mechanisms, which can prevent issues such as corruption or incompetence that may arise from centralized issuers, thus users are already equipped with out-of-the-box protection. However, it is clear that regulatory approval and additional clarity are still needed, which are very beneficial for meeting regulatory frameworks. Sky will let the community decide for itself how to balance between decentralization and compliance. It is entirely possible to make necessary adjustments on highly decentralized infrastructure to meet regulatory requirements. As previously reported by BlockBeats, last Friday Hyperliquid announced the launch of a "Hyperliquid-prioritized, Hyperliquid-concept-compliant USD stablecoin," and reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have quickly joined the competition for the issuance rights of the USDH stablecoin.

BlockBeats news, on September 10, Hyperion community leader Max stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that building a stablecoin system first requires some degree of innovation. Although there are many existing stablecoin solutions, Hyperliquid has a unique ecological positioning. Native Markets and Bridge clearly regard USDH as a collaborative project, with the protocol to be signed directly with Bridge (as I have emphasized multiple times), and believe that the necessary safeguard clauses have been established. It should be pointed out that cooperating with licensed companies also brings the advantage of access to Hyperliquid network infrastructure—something we value highly, and whose value far exceeds that of institutional-level interfaces themselves. Native Markets always maintains technological neutrality and ensures that this principle remains a core consideration throughout the decision-making process. As the least well-known bidder for USDH, Native Markets' proposal was put forward by Max, the community leader of Hyperion, the company previously leading the listing of Hyperliquid DAT. Native Markets plans to use Bridge to connect stablecoin to fiat channels, and in terms of profit sharing, will inject reserve interest profits into Hyperliquid's community assistance fund. Its advantage lies in the team's deep involvement in the Hyperliquid chain and thorough understanding of the local ecosystem. As previously reported by BlockBeats, last Friday Hyperliquid announced the launch of a "Hyperliquid-prioritized, Hyperliquid-aligned, and compliant USD stablecoin," and reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have quickly entered the competition for the right to issue the USDH stablecoin.