Sky enters the competition to launch Hyperliquid's USDH stablecoin.
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Sep 09 2025Sky's Proposal for Hyperliquid: Crypto protocol Sky has proposed to support Hyperliquid's USDH stablecoin, offering a customizable token with a yield of 4.85%, which is higher than US Treasury bills, and the ability to comply with US stablecoin regulations under the GENIUS Act.
Competitive Bidding for USDH: Sky's bid is the fifth from various crypto projects, including Native Markets, Frax, Paxos, and Agora, all vying to create a native stablecoin for Hyperliquid, with validators set to vote on their preferred proposal after an upcoming network upgrade.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
