5 Strategic Steps for Native Markets to Take Control of USDH Ticker: Ready to Challenge USDC & USDT!

Jakarta, Pintu News – Native Markets has officially secured the USDH stablecoin ticker after winning a closely watched governance vote by validators in the Hyperliquid ecosystem. The project managed to outperform strong competitors such as Paxos and Ethena, which were previously considered the favorites.

According to a Decrypt report released on September 15, 2025, this decision is a big deal in the crypto world because it concerns the future of stablecoins that will be widely used in Hyperliquid-one of DeFi’s booming ecosystems.

1. Voting won after Ethena stepped down, chance skyrocketed 90%

One of the key moments in this vote was Ethena’s decision to withdraw from the competition. Ethena admitted that their proposal did not fully align with the native infrastructure principles that Hyperliquid was looking for.

This decision saw Native Markets’ odds shoot above 90% on Myriad’s prediction platform. Paxos tried to revise its proposal, but failed to catch the momentum of Native Markets, which already had the support of the majority of validators.

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2. BlackRock and Superstate, On-Chain and Off-Chain Managed Reserve Models

In its proposal, Native Markets offers a unique and compelling reserve structure. US government cash and bond reserves will be managed off-chain by BlackRock and Superstate through Stripe’s stablecoin infrastructure, according to their team’s official explanation.

Meanwhile, the reserve yield will be split in two: half for the Hyperliquid Assistance Fund, and half for ecosystem development. Transparency and efficiency are the main selling points offered in the proposal.

3. USDH Launch Stages: From Limited Trial to Open Minting

Max Fiege, founder of Native Markets, mentioned that the launch of USDH will be done in stages. The first step is the submission of an improvement proposal (Hyperliquid Improvement Proposal), followed by a limited trial for transactions worth a maximum of USD 800 or around IDR 13 million per user (exchange rate 1 USD = IDR 16,408).

Once the system is stabilized, the USDH/USDC spot order book will be opened. Full mint and redeem features will be available to all users once the testing phase is complete, making USDH an official part of Hyperliquid liquidity.

4. Large Institution Support: From Uniswap Labs to Paradigm

Native Markets’ success is also due to the support of experienced investors and operators. Those involved include big names from Uniswap Labs, Paradigm, and Polychain, according to a Decrypt report.

In addition, major validators such as CMI Trading provide significant early support. This gives Native Markets additional credibility in the eyes of the community and strengthens their position in a competitive field.

5. The Grand Challenge: Challenging the Dominance of USDC and USDT

Vincent Liu, Chief Investment Officer at Kronos Research, stated that while this victory is important, the real challenge is to beat the dominance of stablecoin giants like USDC and USDT.

Liu added that the key to USDH’s future success lies in two things: reserve transparency and strong governance. Without these two things, it’s difficult for a new stablecoin to gain trust and sustainable global adoption in the crypto world.

USDH Ready to Become a New Player in the Stablecoin Market

Native Markets’ victory in the USDH vote is an important moment in the development of governance-based stablecoins. With its hybrid reserve model, gradual rollout, and large institutional backing, USDH has the potential to become a major player amidst the dominance of USDC and USDT.

However, there is still a long way to go. Market trust, reserve transparency, and user adoption will determine whether USDH will be merely an experiment, or truly become the backbone of transactions in the next crypto era.

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Reference:

• Vince Dioquino / Decrypt. Native Markets Secures USDH Ticker Following Hyperliquid Governance Vote. Accessed September 15, 2025