Key Takeaways
- Hyperliquid is initiating an on-chain validator vote to select a team for the USDH stablecoin ticker.
- The protocol will reduce spot trading fees by 80% to enhance liquidity and user experience.
Hyperliquid will implement reduced fees for spot trading pairs and open a validator voting process for its USDH stablecoin ticker, the project announced on Discord.
The protocol plans to cut taker fees, maker rebates, and user volume contributions by 80% for spot pairs between two spot quote assets in its next network upgrade to enhance liquidity and reduce friction.
The USDH ticker, currently held by the protocol, will be released through an on-chain validator voting process. Teams seeking to acquire the ticker must submit proposals, including their deployment address. The selected team will need to participate in a spot deploy gas auction.
Validators will vote through Hyperliquid L1 transactions to approve a user address for purchasing the USDH ticker, following the same mechanism used for delisting votes. The protocol seeks teams capable of developing a “Hyperliquid-first, Hyperliquid-aligned, and compliant USD stablecoin.”
The platform also revealed plans to make spot quote assets permissionless in the future, starting with testnet implementation. This change will include staking requirements and slashing criteria, which will be announced later.
This is a developing story.
Source: https://cryptobriefing.com/usdh-stablecoin-vote-hyperliquid/
