Bastion Co-founder: Hyperliquid Liquidity Migration to USDH should be promoted, and new markets should natively support USDH

BlockBeats News, September 10th, Bastion Platform co-founder Nass Eddequiouaq stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that they are willing to incentivize the migration of tens of billions of dollars in liquidity from USDC on Hyperliquid to USDH through a cost reimbursement mechanism. Bastion Platform believes the most critical element is to build a strong flywheel effect: continuously drive the conversion from USDC to USDH through incentivization and ensure that all new markets built on USDH use USDH natively instead of USDC. We should migrate the existing ecosystem to this inclusive financial system that benefits the entire community, while all new ecosystems should no longer be burdened by the legacy monetary system and must be natively built on top of USDH.

BlockBeats previously reported that last Friday, Hyperliquid announced the launch of a "Hyperliquid-first, Hyperliquid-aligned, and compliant USD stablecoin" and reserved the USDH token code for this purpose. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have rapidly entered the competition for the issuance rights of the USDH stablecoin.