Ethena Exit Hyperliquid USDH Stablecoin Issuance Bidding
Source: ChainCatcher
Time: 2025-09-12 15:12:01
Ethena founder today announced that he would withdraw from the HyperliquidUSDH stablecoin issuance bid, giving the opportunity to the Native Markets team. After communicating directly with the community and validators, Ethena accepted criticism about its "non-Hyperliquid native team".
Despite exiting the bid, Ethena said it will continue to develop all the original planned products, including hUSDe native synthetic dollars, USDe-backed savings and card payment products, hedging liquidity on Hyperliquid, and innovative solutions based on the HIP-3 market.