

Yugbert
2.3K posts

@yugsy
Ops and Project deliveroor ⚡️🏗👷♂️🫡




Coinbase has announced its plan to activate AQAv2 on USDC as the treasury deployer, with Circle serving as the technical deployer responsible for CCTP and native cross-chain infrastructure. Both Coinbase and Circle have committed to stake HYPE to activate AQAv2. As part of this transition, Native Markets has agreed to terms granting Coinbase the right to purchase the USDH brand assets. With Coinbase, in its role as treasury deployer, sharing the vast majority of reserve yield revenue with the protocol, USDC will become the most aligned stablecoin on Hyperliquid. As a result, canonical outcome (HIP-4) markets will use USDC as the quote asset in a future network upgrade. User and builder feedback has been consistent that fragmentation leads to degraded experience; now, the community no longer needs to choose between liquidity and protocol alignment. The pioneering work of Native Markets in launching USDH as the first production-scale stablecoin sharing yield directly with a protocol in a purely onchain implementation made AQAv2 possible. The learnings and mechanics pioneered by USDH will live on in AQAv2. The Hyper Foundation will give grants to eligible HIP-3 deployers, HIP-1 deployers, and builders who integrated USDH, supporting teams through migration over the next months. These grants reflect an ongoing commitment to teams who choose to build on Hyperliquid and align with the protocol. USDH markets are fully functional but will sunset over time. USDH remains fully backed, with feeless conversions to USDC and fiat available to users during this transition.





TSLA-USDH perp is now live to trade on Hyperliquid The perp market is deployed and managed by the Felix team (via HIP-3). The starting parameters of the market are the following: >On hours pricing covers 9:30AM ET to 4PM ET to start (not accounting holidays), with plans to support pre-hours, post-hours, and beyond in the next iteration >Off hours pricing involves a self-referential price that utilizes the local orderbook’s impact price, with price bands applied around the On hours last close >The max leverage to start is 5x for positions of 0 - 1M and 3x for positions of 1M+ >OI cap set at 0.5M USD to start USDH is the margin asset for Felix-deployed perp markets. Beyond the Hyperliquid cultural alignment, our goal is to offer tangible economic benefits / cost reductions to both takers and makers. USDH-margined perp markets will have the following upgrades after the aligned stablecoin proposal is deployed to mainnet: 20% lower taker fees, 50% better maker rebates, and 20% more volume contribution toward fee tiers. Furthermore, we are also introducing the Felix VIP program for further trader discounts. Users can reach out to the Felix team for more information on VIP. Trade here: app.hyperliquid.xyz/trade/flx:TSLA Docs can be viewed here: usefelix.gitbook.io/perps







.@HyperliquidX deserves a stablecoin partner with nativity, alignment, scale, compliance, and global distribution. We believe we’re uniquely positioned to be that partner. Here’s why: 🧵