Native Markets has been selected for the USDH token symbol of Hyperliquid stablecoin, and will launch its first improvement proposal

Odaily Planet Daily News Native Markets, which submitted the Hyperliquid USD Stablecoin (USDH) issue and management proposal, announced its successful claim to the USDH token symbol after the results of the community vote were announced. Founder Max Fiege said the project will release its first Hyperliquid improvement proposal (HIP) in the coming days and simultaneously launch Ethereum-based ERC-20 tokens. He introduced that the initial stage will enter the testing stage, with the maximum limit of single casting and redemption amounts of US$800, which is only open to some users; the USDH/USDC spot trading pair will be launched, and unlimited casting and redemption will be opened. Earlier, synthetic stablecoin issuer Ethena announced its withdrawal from competition last Thursday, causing the probability of Native Markets to be selected to soar to more than 99% on Saturday's Polymarket forecast market. This USDH token symbol competition has attracted widespread attention from the community and the industry, and has also triggered discussions on the fairness of the selection process and the prospects of the stablecoin industry. (The Block)