Hyperliquid

USDhl's pretty wild. Quick TLDR 👇

Initiative from Felix & M0 for a HL native, treasury-backed stablecoin that recycles rewards back into ecosystem rather than going to a private company like Circle.

In the case of USDhl, all Treasuries yield is redistributed as $HYPE rewards to holders on a weekly basis.

Grown to $27M Market Cap in 2 weeks since release.

Now, USDhl also powers the first tokenized version of HLP live via HyperLend & Loop Collective — a long-awaited, hyped project to come.

Given Felix's diligence in risk assessment, this rehypothecation doesn't really raise too many concerns for me, though mixed with all the companies buying $HYPE may be a concern at some point.

I'm still bullish though & that wouldn't change if this happens — I'm just noting it could.

loopedHYPE

USDhl's pretty wild. Quick TLDR 👇

Initiative from Felix & M0 for a HL native, treasury-backed stablecoin that recycles rewards back into ecosystem rather than going to a private company like Circle.

In the case of USDhl, all Treasuries yield is redistributed as $HYPE rewards to holders on a weekly basis.

Grown to $27M Market Cap in 2 weeks since release.

Now, USDhl also powers the first tokenized version of HLP live via HyperLend & Loop Collective — a long-awaited, hyped project to come.

Given Felix's diligence in risk assessment, this rehypothecation doesn't really raise too many concerns for me, though mixed with all the companies buying $HYPE may be a concern at some point.

I'm still bullish though & that wouldn't change if this happens — I'm just noting it could.

https://x.com/Looped_HYPE/status/1936173802163257771