💥 Gate Square Event: #PTB Creative Contest# 💥
Post original content related to PTB, CandyDrop #77, or Launchpool on Gate Square for a chance to share 5,000 PTB rewards!
CandyDrop x PTB 👉 https://www.gate.com/zh/announcements/article/46922
PTB Launchpool is live 👉 https://www.gate.com/zh/announcements/article/46934
📅 Event Period: Sep 10, 2025 04:00 UTC – Sep 14, 2025 16:00 UTC
📌 How to Participate:
Post original content related to PTB, CandyDrop, or Launchpool
Minimum 80 words
Add hashtag: #PTB Creative Contest#
Include CandyDrop or Launchpool participation screenshot
🏆 Rewards:
🥇 1st
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.