#全球稳定币市场发展# Wow, this USDH battle is simply going to the sky! Paxos, Frax, Agora, and Native Markets are all in action, even Sky and Ethena have joined in to join the fun. Everyone is crazy about profits, with 95%, 100% profit sharing becoming standard. It's hard to say who will take the big cake. However, I am optimistic about Paxos's compliance + buyback HYPE model, which can bring more incremental resources to Hyperliquid. By the way, there’s also Native Markets, although not well-known, it has strong support from local factions, who knows it might surprise us. This stablecoin 2.0 battle is so exciting, I have to keep a close watch, maybe I can find arbitrage opportunities!