DNA

Over the past week, the community engaged with teams’ proposals for the USDH ticker for a Hyperliquid-first, Hyperliquid-aligned, compliant, and natively minted USD stablecoin. While USDH is no more than a reserved ticker at the protocol level, it has come to represent a community rallying around a common cause and a successful experiment in decentralized governance. Thoughtful dialogue, proposal iteration based on user feedback, and community stewardship are values that will continue to drive Hyperliquid forward. Regardless of the vote’s result, it will be exciting to see many of these proposals go live and contribute to growing the Hyperliquid ecosystem. Thank you to all participants who dedicated their precious time to be a part of this governance process. Each validator has stated their intended vote and reasoning in the Discord governance forum. Voting will begin on September 14 at 10:00 UTC, and stakers have until then to stake to a validator who matches their vote. There are 2 steps to change the validator you stake to: 1) Unstake from the validator and 2) Stake to a new validator who matches your vote. There is a 1-day cooldown after staking to a new validator before you can unstake from them. Important: Do not transfer HYPE from your staking balance to spot balance - this removes HYPE from your staking balance, and you will then be unable to participate in the vote. Voting is fully onchain through a transaction on the Hyperliquid blockchain and based on stake. When quorum (2/3) is reached, the designated address will be able to bid on the ticker in the spot deploy gas auction. As a reminder, the Foundation validators will effectively abstain by voting for the team with the most non-Foundation votes based on validator commitments made on September 11 weighted by stake on September 14.