Ethena Labs recently proposed an attractive USDH proposal, which has attracted wide attention in the Crypto Assets community. The proposal includes incentives of up to 75 million USD (which may rise to 150 million USD) and is supported by 95% of HyperliquidX's net income, aiming to promote the development of the HIP-3 market.



The core of the proposal lies in Ethena's compliant payment stablecoin USDtb. This stablecoin is issued in collaboration with Anchorage Digital Bank, a crypto bank chartered by OCC, and is supported by BlackRock's BUIDL fund. It is noteworthy that Ethena has accumulated considerable experience in the stablecoin field, successfully minting and redeeming over 23 billion USD tokenized assets (USDe and USDtb), with no security incidents or system downtime.

From a technical perspective, the smart contract of USDtb has undergone rigorous auditing, and no medium or high-level issues have been found. More importantly, its issuance process fully complies with the upcoming GENIUS regulations, demonstrating Ethena Labs' strong commitment to compliance.

In terms of revenue distribution, this proposal also demonstrates deep consideration for the Hyperliquid community. 95% of the net income generated from the USDH reserves will benefit the community in various ways, including purchasing HYPE tokens, establishing a fund for assistance, or rewarding HYPE holders who stake their coins. This decision fully reflects the project's emphasis on community development.

It is worth mentioning that the proposal also includes a flexible governance mechanism. In the future, representatives elected by Hyperliquid validators (such as LayerZ) can adjust the revenue distribution plan to adapt to market changes and community needs.

Overall, Ethena Labs' USDH proposal is not only highly attractive in terms of economic incentives but also takes comprehensive considerations in technical implementation, compliance, and community governance. It could bring new development momentum to the stablecoin market and deserves continuous follow-up from industry insiders.
ENA-4.09%
USDE-0.06%
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TokenVelocityTraumavip
· 09-10 10:44
Another Be Played for Suckers stablecoin
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DeepRabbitHolevip
· 09-09 17:51
After so many stablecoins, you are the only reliable one left.
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OldLeekConfessionvip
· 09-09 17:51
Still not buying, let's see how long it can hold up.
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GasFeeCriervip
· 09-09 17:50
Another stablecoin Be Played for Suckers
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NFTHoardervip
· 09-09 17:48
Making money is not a shame.
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NftDataDetectivevip
· 09-09 17:28
ngl this is actually impressive... 75m incentives + blackrock backing feels different from usual stablecoin plays
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screenshot_gainsvip
· 09-09 17:23
Stable, all favourable information, bullish.
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