Hyperliquid will release the USDH token symbol for stablecoin issuance

BlockBeats News, September 5th, according to official sources, Hyperliquid will release the USDH token symbol for stablecoin issuance. The current USDH trading pair symbol held by the Hyperliquid protocol will be released through a transparent on-chain process via validator voting.

After the next network upgrade, validators will be able to vote on whether to allow a particular user address to mint the USDH symbol. The voting process will take place entirely on-chain, carried out through Hyperliquid L1 transactions, similar to delisting voting.

Teams interested in applying for this symbol can submit a proposal on the new forum, which must include the user address that will be used to deploy the USDH symbol once elected by the statutory number of validators. It is important to note that even if a team is approved, they must still participate in the regular spot deployment gas auction.