According to Foresight News, Sky (formerly MakerDAO) joined the competition for the issuance rights of USDH stablecoin under Hyperliquid. Sky co-founder Rune tweeted that “Sky provides Hyperliquid with the main advantages of USDH: USDH will receive USDH of USDH for off-chain redemption; Sky can deploy its balance sheet of over USDB to Hyperliquid; all USDHs on Hyperliquid can receive a 4.85% yield, higher than Treasury yield, and all USDHs will be used for the HYPE repurchase fund; Sky can provide USD 25 million to create a standalone Hyperliquid Star project to independently develop Hyperliquid DeFi; Sky can transfer its repurchase system to Hyperliquid, builds USDH liquidity using more than $250 million in profits per year.

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