Ethena Labs and Liminal to Launch Stablecoin on Hyperliquid

Ethena Labs, Liminal, and Hyperliquid have partnered to launch a new stablecoin involving a 1 million HYPE token lock-up. Ethena invests in the Hyperliquid ecosystem, with assets backed by BlackRock’s BUIDL fund, enhancing institutional credibility.

Ethena Labs and Liminal announced plans to launch a stablecoin on Hyperliquid, with the initiative mandating a 1 million HYPE token lock-up.

The initiative indicates potential growth in the DeFi sector, providing new liquidity options and enhancing stablecoin usage.

Ethena Labs and Liminal are collaborating to launch a new stablecoin on Hyperliquid, a leading decentralized derivatives platform. This powerful partnership includes a mandatory lock-up of 1 million HYPE tokens, channeling new resources within the decentralized finance landscape.

Guy Young, founder of Ethena Labs, along with Liminal, a custody and wallet infrastructure provider, aims to enhance the DeFi ecosystem. The stablecoin introduction will involve the use of key assets such as BTC, ETH, and SOL as collateral.

The collaboration signifies Ethena’s investment in Hyperliquid’s ecosystem, promising potential shifts in collateral asset usage. Market dynamics include a promised return of 95% of net revenue to the community, aimed at incentivizing participants in the network.

“We aim to return 95% of net revenue from USDH reserves back to the Hyperliquid community.” — Guy Young, Founder, Ethena Labs

Institutional involvement, including Anchorage Digital Bank and BlackRock’s BUIDL Fund, lends credibility to the undertaking, yet official primary confirmations remain absent. The lack of primary-source reports remains a notable gap.

Insights suggest that stablecoin launches could positively impact governance token pricing and trading volume on leading platforms. Previous examples show potential for rapid growth, although precise effects will become clear through verified data.

Regulatory backing of USDtb provides additional stability, aligning with GENIUS compliance guidelines. This move could inspire similar institution-grade stablecoins, positioning them favorably with regulators for the future.