PANews reported on September 12th that Ethena Labs has withdrawn from the bidding for the Hyperliquid stablecoin USDH. Founder Guy Young stated that previous discussions with validators and community members raised questions about the Ethena team's position within the Hyperliquid ecosystem, including its non-native status, its product scope beyond USDH, and its broader goals beyond partnering with a single exchange. Based on this feedback, Ethena has decided not to compete and has withdrawn. He also congratulated the Native Markets team on their success in winning community support. In the future, Ethena Labs will continue to focus on developing innovative products, including native synthetic USD hUSDe, USDe-backed savings and card payment products, hedging liquidity solutions on Hyperliquid, as well as reward trading collateral based on HIP-3 market design, modular brokerage services and stock perpetual contracts. According to previous news, the Hyper Foundation: Voting for the issuance rights of the stablecoin USDH will begin on September 14, and will be conducted on the chain and based on staking .PANews reported on September 12th that Ethena Labs has withdrawn from the bidding for the Hyperliquid stablecoin USDH. Founder Guy Young stated that previous discussions with validators and community members raised questions about the Ethena team's position within the Hyperliquid ecosystem, including its non-native status, its product scope beyond USDH, and its broader goals beyond partnering with a single exchange. Based on this feedback, Ethena has decided not to compete and has withdrawn. He also congratulated the Native Markets team on their success in winning community support. In the future, Ethena Labs will continue to focus on developing innovative products, including native synthetic USD hUSDe, USDe-backed savings and card payment products, hedging liquidity solutions on Hyperliquid, as well as reward trading collateral based on HIP-3 market design, modular brokerage services and stock perpetual contracts. According to previous news, the Hyper Foundation: Voting for the issuance rights of the stablecoin USDH will begin on September 14, and will be conducted on the chain and based on staking .
Ethena Labs withdraws from Hyperliquid stablecoin USDH bidding
PANews reported on September 12th that Ethena Labs has withdrawn from the bidding for the Hyperliquid stablecoin USDH. Founder Guy Young stated that previous discussions with validators and community members raised questions about the Ethena team's position within the Hyperliquid ecosystem, including its non-native status, its product scope beyond USDH, and its broader goals beyond partnering with a single exchange. Based on this feedback, Ethena has decided not to compete and has withdrawn. He also congratulated the Native Markets team on their success in winning community support.
In the future, Ethena Labs will continue to focus on developing innovative products, including native synthetic USD hUSDe, USDe-backed savings and card payment products, hedging liquidity solutions on Hyperliquid, as well as reward trading collateral based on HIP-3 market design, modular brokerage services and stock perpetual contracts.
According to previous news, the Hyper Foundation: Voting for the issuance rights of the stablecoin USDH will begin on September 14, and will be conducted on the chain and based on staking .
Market Opportunity
Hyperlane Price(HYPER)
$0.13601
$0.13601$0.13601
USD
Hyperlane (HYPER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Fed Decides On Interest Rates Today—Here’s What To Watch For
The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23
Will XRP Price Increase In September 2025?
Ripple XRP is a cryptocurrency that primarily focuses on building a decentralised payments network to facilitate low-cost and cross-border transactions. It’s a native digital currency of the Ripple network, which works as a blockchain called the XRP Ledger (XRPL). It utilised a shared, distributed ledger to track account balances and transactions. What Do XRP Charts Reveal? […]
Share
Tronweekly2025/09/18 00:00
Exclusive interview with Smokey The Bera, co-founder of Berachain: How the innovative PoL public chain solves the liquidity problem and may be launched in a few months
Recently, PANews interviewed Smokey The Bera, co-founder of Berachain, to unravel the background of the establishment of this anonymous project, Berachain's PoL mechanism, the latest developments, and answered widely concerned topics such as airdrop expectations and new opportunities in the DeFi field.
Share
PANews2024/07/03 13:00