Sky Mavis: to Provide USDH with Crypto Derivatives Expansion Opportunity, Offering Holders Higher Yield

BlockBeats News, September 9th, Co-founder of Sky, Rune, stated at the "USDH Stablecoin Roundtable Conference" held by Hyperliquid that Sky has gone through multiple development stages and has achieved self-decentralization. Projects built on Sky compete and collaborate, deploying collateral asset portfolios in the best way to provide stablecoin holders with a better yield, while also bringing higher profits to the Hyperliquid ecosystem. The early dream and grand vision of Web3 was to break free from centralized exchanges and truly achieve decentralization, and that moment is about to arrive. As Hyperliquid drives the force of decentralized stablecoins, we hope to participate in it. Sky will provide scale network effects and technical support, leading to exponential growth in returns. Sky and Hyperliquid are among the few truly successful decentralized projects, and it would be exciting to collaborate due to USDH. Sky's core business is credit-enhanced lending. Sky has the opportunity to deploy Hyperliquid ecosystem assets into derivatives, spot leverage, or other scalable opportunities.

BlockBeats previously reported that last Friday Hyperliquid announced the launch of a "US Dollar stablecoin that prioritizes Hyperliquid, aligns with the Hyperliquid ethos, and is compliant," and has reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have rapidly entered into the competition for the issuance rights of the USDH stablecoin.