Frax founder: All parties compete for USDH issuance rights not for potential benefits, but for grabbing a huge distribution scenario

Odaily Planet Daily News Frax founder Sam Kazemian posted on X that for stablecoin issuers and infrastructure companies, the key point of competing for the submission of Hyperliquid stablecoin USDH issuance proposals is not revenue sharing, but the real value lies in achieving interoperability and depth of 1:1 integration with Hyperliquid, a super-large distribution scenario. In fact, all parties shortlisted for the proposal (Frax, Paxos, Agora) have proposed to return 100% of the proceeds.