Been talking about native stablecoins on hyperliquid for a minute. After learning more about the USDC deal and the fact that they're going to be putting revenue back into the HL ecosystem, this could be massive for hype... Let's see how Coinbase handles ecosystem support.
Do you guys realize how much money Hyperliquid has potentially missed out on by not having a native stablecoin?
There’s ~$5.6B in external stables sitting on HL. With a non-native coin, the reserve interest goes to the issuer, not the ecosystem.
Rule of thumb: every 1% on $5.6B ≈ $56M/yr.
At ~3–4% bills, that’s ~$170–$225M leaking each year.