Native Markets Win Hyperliquid Stablecoin USDH Token Name

According to Coinjie.com, last Sunday, after a community vote, Native Markets officially announced that it has successfully claimed the USDH token symbol as one of the teams submitting the proposal for the issuance and management of Hyperliquid USD Stablecoin (USDH). Native Markets founder Max Fiege posted on the X platform that the project will launch its first Hyperliquid improvement proposal (HIP) for USDH in the next few days, and also issue ERC-20 tokens based on the Ethereum network. He also outlined his next plan: “We will start the testing phase with initial transaction volumes of up to $800 for a single minting and redemption, involving a portion of users; the USDH/USDC spot order book will be opened and unlimited minting and redemption will be supported.” The probability of Native Markets winning the USDH token symbol soared to more than 99% on Saturday’s forecast market Polymarket after synthesized stablecoin issuer Ethena announced its exit from competition last Thursday. The USDH token symbol battle has attracted widespread attention from crypto community and industry executives, and has also triggered doubts about the "blind-box operation" of the selection process and reflection on the future of the entire stablecoin industry.