- Ethena launches USDH with BlackRock and Anchorage support.
- $75-150M ecosystem incentives pledged.
- 95% revenue return to users.
Ethena, supported by BlackRock, has proposed issuing the USDH stablecoin backed by USDtb. This involves $75–$150 million in ecosystem incentives and a 95% revenue return to the Hyperliquid community, with institutional backing and on-chain liquidity management.
Ethena Labs has officially proposed issuing the USDH stablecoin, fully backed by USDtb from Anchorage, with substantial support from BlackRock. The proposal includes up to $150 million in incentives for the Hyperliquid community.
Ethena’s proposal for USDH backed by BlackRock’s USDtb could redefine stablecoin standards, potentially shifting market liquidity and leveraging institutional support.
Ethena Labs has proposed the launch of the USDH stablecoin, poised to be fully collateralized by USDtb, a new asset issued by Anchorage Digital and backed by BlackRock’s BUIDL fund. This move is designed to significantly advance the DeFi ecosystem.
Key players are actively involved in this launch. Ethena Labs is working closely with institutions like BlackRock and Anchorage Digital. Robert Mitchnick, Head of Digital Assets at BlackRock, noted, “USDtb … uniquely positioned to offer institutional-grade cash management as well as on-chain liquidity.”
The proposal’s impact on the market is substantial, particularly for Hyperliquid’s ecosystem. BlackRock’s involvement ensures institutional-grade cash management, potentially influencing liquidity flows into USDH. Revenue models indicate a 95% return to the community, sparking interest.
Several implications arise from this initiative. BlackRock’s support offers strong institutional credibility. This could pressure legacy stablecoins, resulting in financial shifts across markets. Ethereum and Bitcoin might experience changes due to liquidity redirection.
Potential outcomes include regulatory considerations for compliance and technological advancements in stablecoin architecture. Historical trends show substantial TVL surges in similar contexts, hinting at USDH’s future success if the setup parallels past high-profile stablecoin launches.
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