USDH on HyperCore

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Overview

USDH on HyperCore is enabled via the HIP-1 native token standard. As an aligned quote asset, USDH contributes to the Hyperliquid protocol and provides enhanced functionality for trading and DeFi applications.

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Token Parameters

These parameters are standard across canonical stablecoin deployments on HyperCore, and compliance is enforced by the network as a prerequisite for quote asset status.

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Use Cases

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Spot Trading

USDH is available in spot balances for trading on multiple markets including USDH/USDC and HYPE/USDH.

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Collateral for HIP-3 DEXes

USDH can be used as collateral for HIP-3 decentralized exchanges including Felix and Ventuals.

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Permissionless Market Deployment

As an aligned quote asset, builders can permissionlessly deploy reduced-fee spot markets and HIP-3 DEX perp markets denominated in USDH via the token index, 360.

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Account Initialization

As a quote asset, protocols can use USDH to pay the $1 HyperCore account initialization fee when transferring the stablecoin to an uninitialized HyperCore address.

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Token Supply Architecture

At time of token deployment, USDH on HyperCore was initialized with a 100 billion token supply, atomically transferred to the token system address at time of genesis. In this way, all token transfers between HyperEVM and HyperCore remain fully collateralized 1:1 across the networks, with shared token balances. This is a best-practice, recommended approach for canonical HyperEVM ↔ HyperCore bridging.

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Bridging Between Networks

Any transfers of the ERC-20 token on HyperEVM or the HIP-1 token on HyperCore to the system address will automatically reflect an according disbursement of USDH tokens on the counterpart network.