News

BlockBeats News, September 9 — Sean Kelley, Vice President of Communications at Frax, stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that regarding "whether there are plans to allocate funds from yields for buybacks," he believes the specific allocation ratio should be decided by the community, and Frax absolutely hopes to resolve this issue through governance. A balance may need to be found between allocating part of the funds for buybacks to support further growth of USDH and improving other areas of the ecosystem considered weaker. The specific percentage should ultimately be determined by the community. As for the transparency of yield distribution, Frax places great emphasis on data visualization and wants to ensure that fund flows can be transparently tracked. Data will be published on the dashboard for users to access, essentially tracking everything on-chain within the ecosystem. Regarding buyback allocation, Frax believes that conducting it once per quarter may be reasonable, and all operations will be executed through smart contracts. BlockBeats previously reported that last Friday, Hyperliquid announced the launch of a "USD stablecoin that prioritizes Hyperliquid, aligns with Hyperliquid's philosophy, and is compliant," 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.

BlockBeats News, on September 9, Sky co-founder Rune stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that Sky has gone through multiple development stages and has already achieved self-decentralization. Projects built on Sky compete and collaborate with each other to deploy collateral asset portfolios in the best way, providing better returns for stablecoin holders, while also bringing higher profits to the Hyperliquid ecosystem. The big dream and vision of the early Web3 era was to break free from centralized exchanges and truly realize decentralization, and this moment is about to arrive. As Hyperliquid drives the power of decentralized stablecoins, we hope to participate. Sky will provide scale network effects and technical support, bringing exponential growth in returns. Sky and Hyperliquid are among the few truly successful decentralized projects, and it would be exciting if cooperation could be achieved through USDH. Sky's core business is credit-enhanced lending. Sky has the opportunity to deploy Hyperliquid ecosystem assets into derivatives, spot leverage, or other scalable opportunities. BlockBeats previously reported that last Friday Hyperliquid announced the launch of a "Hyperliquid-first, 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.