# Native Markets Wins Mandate to Architect Hyperliquid's Native Stablecoin USDH ▴ News

**Published:** 2025-09-15
**Categories:** News

---

The selection of Native Markets to issue USDH on Hyperliquid represents a systemic evolution for the derivatives platform. It internalizes stablecoin issuance, transforming a core dependency into a native architectural component. This integration creates a closed-loop economic system where reserve asset yield directly fuels the platform’s native token, HYPE, through buybacks. The result is a more robust and self-reinforcing liquidity framework.

The on-chain governance vote that decided the outcome establishes a clear precedent for future strategic decisions, solidifying the protocol’s decentralized operational structure. This development directly challenges the incumbent stablecoin, USDC, by introducing a native competitor engineered to enhance the platform’s own economic incentives and capital efficiency.

The introduction of a native, yield-sharing stablecoin re-architects the platform’s foundational liquidity structure, creating a self-reinforcing economic model and asserting protocol sovereignty.

- 
**Governing Mandate** ▴ Two-thirds supermajority of staked HYPE token vote

- 
**Incumbent Liquidity** ▴ Nearly $6 billion in USDC reserves on platform

- 
**Proposed Yield Allocation** ▴ Split between HYPE buybacks and USDH distribution programs

Signal Acquired from ▴ <a href="https://www.theblock.co/post/291551/native-markets-team-wins-hyperliquid-usdh-stablecoin-bid-eyes-test-phase-within-days?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" target="_blank" rel="nofollow">theblock.co</a>

**Tags:** [Native Issuance](https://options.greeks.live/area/native-issuance/), [On-Chain Governance](https://options.greeks.live/area/on-chain-governance/), [Liquidity Architecture](https://options.greeks.live/area/liquidity-architecture/), [Perpetuals Exchange](https://options.greeks.live/area/perpetuals-exchange/), [Ecosystem Growth Initiatives](https://options.greeks.live/area/ecosystem-growth-initiatives/), [Supermajority Vote](https://options.greeks.live/area/supermajority-vote/)	

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---

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---

**Original URL:** https://options.greeks.live/news/native-markets-wins-mandate-to-architect-hyperliquids-native-stablecoin-usdh/
