@robinson

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

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