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Sky, formerly MakerDAO, proposed to help launch Hyperliquid’s USDH stablecoin. It offers a 4.85% yield on USDH, higher than US Treasury bills, and compliance options under the GENIUS Act. Sky commits $25 million to autonomously grow DeFi on Hyperliquid, aiming to boost ecosystem development. The proposal includes $2.2 billion in instant liquidity and plans to migrate its buyback engine to support USDH, making it a strong contender in the stablecoin race.
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