Frax bets on all Treasury yields to gain the advantage of decentralized USDH

Frax Finance is racing to issue Hyperliquid's USDH stablecoin, emphasizing a user-centric model that passes 100% of U.S. Treasury yields to users without charges. The decentralized exchange, which accounts for 80% of the DeFi derivatives market, will hold a validator vote on September 14 to select issuers. USDH aims to replace the $5.5 billion worth of USDC on the platform and earn considerable revenue from U.S. Treasury yields. Fears that Stripe may have an impact on economic sovereignty, competitive options include Paxos’ regulatory strategies and Agora’s alliance.