Hyper Foundation: Voting for the issuance rights of the stablecoin USDH will begin on September 14th, and will be conducted on the chain and based on staking

PANews reported on September 11th that the Hyper Foundation announced that over the past week, the community has been discussing proposals for Hyperliquid's native stablecoin, USDH. Voting will begin at 6:00 PM Beijing Time on September 14th, and stakers must have staked to a validator that matches their voting preferences by then. Changing validators requires a two-step process: 1) unstaking from the original validator; 2) staking to a new validator whose voting preferences align. After staking to a new validator, there is a one-day cooldown period before unstaking from that validator. Important: Do not transfer HYPE from your staked balance to your spot balance; this will remove your HYPE from your staked balance and prevent you from participating in the voting. Voting will be conducted entirely on-chain through transactions on the Hyperliquid blockchain, with votes calculated based on staked volume. When a quorum (2/3) is reached, designated addresses will be able to bid for shares in the spot deployment gas auction. It should be noted that the Foundation’s validators will actually exercise their right to abstain from voting based on the non-Foundation team with the most votes among the validator commitments on September 11 (weighted by the stake amount on September 14).