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Sky Backs Hyperliquid’s USDH Stablecoin with $25M Growth Boost

Published by
Sohrab Khawas

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.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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