With Native Markets, we set out to create a stablecoin platform for Hyperliquid that stopped value leakage from its ecosystem and minimized its third party dependencies. These goals are achieved with the formalization of USDC as an AQA. Today’s announcement marks what I view to be the biggest win for Hyperliquid to date, unlocking meaningful additional annual revenue for the Assistance Fund, as well as allying the network with the strongest force in American crypto policy. It’s incredibly vindicating to see industry leaders recognize a thesis that few of us believed just a short time ago. I want to thank all of the builders who took a chance on USDH, as well as to give a special shout out to @mclader. It’s been a privilege working with her on USDH, and for all of us HYPE holders, we can be grateful to have her in our corner. Our blog post below walks through the timeline for sunsetting USDH over the coming months. We’ll be in touch with builders and partners who have questions, especially those navigating spot and perp order book migration.