Hyperliquid has officially sunset USDH! ✅ All USDH-denominated markets on HyperCore have been fully settled. If you're holding or using USDH, act NOW: • Swap USDH → USDC 1:1 feeless on HyperEVM via Across • Trade USDH/USDC spot on HyperCore • Withdraw supplied USDH from Borrow/Lend • Repay borrows by buying USDH/USDC @HyperliquidX

As part of the USDH sunset, all USDH-denominated markets on HyperCore have completed settlement. Users are recommended to immediately: + Swap USDH on HyperCore for USDC on the spot order book: + Swap USDH on HyperEVM for USDC 1:1 with no fees via Across: + Withdraw supplied USDH from Borrow/Lend: + Repay borrowed USDH by buying USDH/USDC:

With final markets settling across the Hyperliquid ecosystem we would like to remind our users of the pending shutdown of USDH. HyperLend recommends that users repay any outstanding USDH debt and convert any supplied USDH to USDC. See QT for methods to convert USDH.

reminder to swap all your USDH to USDC ASAP (hard deadline is july 17th), especially if you have USDH borrows on hypercore your USDH debt will NOT be automatically converted to USDC and you will be at risk of liquidation because borrow rates will increase significantly

The final @Kinetiq_xyz Markets USDH pairs have completed settlement. By June 22, users are required to convert their remaining USDH via: - The HyperCore USDH/USDC order book - The @AcrossProtocol 1:1 USDH to USDC bridge - The USDH Dashboard

The final Kinetiq Markets USDH pairs have completed settlement. By June 22, users are required to convert their remaining USDH via: - The HyperCore USDH/USDC order book - The Across 1:1 USDH to USDC bridge - The USDH Dashboard

Ventuals will sunset all USDH pairs by June 19, with major markets settling today. Users should redeem their USDH for USDC by June 22. Zero-fee, 1:1 conversion is available on @AcrossProtocol via the HyperEVM USDH -> HyperCore USDC bridge.

Reminder: @Markets_xyz will be settling from June 10th to June 17th. @felixprotocol Markets will be settling from June 19th to June 20th. If you hold USDH from closed positions in these markets, you may convert to USDC 1:1 with no fees via @AcrossProtocol

We're kicking off the USDH → USDC collateral migration tomorrow. Starting June 10th, we'll begin winding down existing markets and settling open positions at mark price, working from least to most active over the coming days, ahead of the full transition to USDC. The final day to migrate will be June 17th. If you're holding positions: every close settles at mark. We'll post the schedule below + have daily reminders before each batch so nothing catches you off guard. USDC deployment + relisting of core markets is imminent, and details will be shared soon. Full Market Settlement Schedule below.

In light of the USDH sunset, the Felix HIP-3 DEX and all live markets will begin sunsetting on June 19 and conclude on June 20. All traders are encouraged to close active positions before this time. Another reminder of this sunset will be sent in the Felix Discord and Telegram announcements channels on June 15. Markets will be settled sequentially, with each market settling one hour after the previous market. For full settlement mechanics, please review the FLX HIP-3 Sunset section of the Felix docs here: Telegram announcements: felixannouncements Discord link in bio

As part of the USDH sunset, Felix will be deprecating both USDH vaults on Felix Vanilla. Users should repay any open USDH borrow positions and transition supplied and borrowed USDH to USDC. Users can convert their outstanding USDH balances to USDC through the HyperCore USDH/USDC order book, or via @AcrossProtocol 1:1 with no fees. USDC lending on Felix is currently yielding 5.81%. USDH Flagship and USDH Frontier vaults will be removed from the Felix frontend on Friday, June 12. Users are encouraged to shift to USDC lending and borrowing on Felix before then or contact our team with any concerns.

Notice on sunsetting Felix USDH-denominated HIP-3 markets will be shared in a future post; for now, they remain active. USDH deposits on Felix Vanilla are unchanged, and users can continue to lend USDH while USDH is live if they choose. Users are encouraged to change USDH borrow and lend positions to USDC—users can swap USDH for USDC on the HyperCore spot orderbook linked below. Timeline on USDH Frontier and USDH Flagship vault sunsets will be shared in a tweet, Discord post, and Telegram announcement soon. For more information on zero-fee USDH redemption options, visit

Markets by Kinetiq will work with @HyperliquidX and @nativemarkets to ensure a seamless transition to USDC for the margin asset for the DEX. First, credit where it's due: Native Markets pioneered the first production-scale protocol-aligned stablecoin. AQAv2 wouldn't exist without that work, and we were proud to ship it alongside them. Kinetiq contributed to >50% of USDH growth via $KNTQ and @Markets_xyz. The fragmentation between USDH <> USDC was completely abstracted on both frontends, desktop and mobile. That same abstraction layer makes the USDC transition invisible to traders. To traders of km assets, and kmHYPE stakers: As usual, we'll be over-communicative on the next steps and ultimately this does not affect stake, or $HYPE / $KNTQ buybacks in the slightest. Listings will carry over and expand aggressively. There is no action required on behalf of traders at this time.

Sunsetting USDH on HyperLend In light of todays announcement that USDH will begin winding down operations on Hyperliquid we have made the decision to begin the process of sunsetting USDH borrowing and lending on HyperLend. Within 48 hours users will no longer be able to supply or borrow further USDH on HyperLend as we look to wind down and eventually close this market. We encourage our users to be proactive in repaying any USDH loans they hold. @nativemarkets have been a pleasure to work with and a positive force in the Hyperliquid ecosystem and we wish the team all the best moving forward. As in all things DeFi, Hyperliquid will win in the end. gLend.