DeFi's high-risk stablecoin auctions compete with traditional models
Source: CoinWorld
Time: 2025-09-10 23:55:18
Hyperliquid has launched a bidding program for its native stablecoin USDH, attracting key players such as Paxos, Frax Finance and the LayerZero-led alliance. Winners will manage a $5.5 billion liquidity base and could generate $220 million in annual revenue. Paxos allocates 95% of interest to HYPE repurchase and PayPal integrated incentives; Frax promises to provide users with 100% Treasury yields without charges; the LayerZero Alliance focuses on cross-chain neutrality and full net income returns. The final result will be decided by a September 11-14 validator vote and will drive HYPE prices up amid a competitive proposal.