According to @MilkRoadDaily, USDH is launching with Native Markets (source: @MilkRoadDaily, X post dated Sep 15, 2025). The post cites $6B in stablecoins on the platform and an estimated $240M per year in Treasury yield capture (source: @MilkRoadDaily, X post dated Sep 15, 2025). The post adds that this yield can be funneled into HYPE buybacks, validators, and growth, creating a defined use-of-proceeds path relevant to HYPE token flow if executed (source: @MilkRoadDaily, X post dated Sep 15, 2025). The $240M on $6B implies roughly a 4% annual yield based on the figures provided in the post (source: @MilkRoadDaily, X post dated Sep 15, 2025). The post does not disclose timing, allocation percentages, or buyback mechanics, so traders should watch for official execution details and on-chain activity related to HYPE (source: @MilkRoadDaily, X post dated Sep 15, 2025).

According to @KookCapitalLLC, Paxos needs to win the USDH vote and a victory would be a massive symbolic win that could turbo-charge USDH distribution efforts. Source: @KookCapitalLLC on X, Sep 12, 2025. The post calls for shifting control from a Hyperliquid OG cabal toward native markets, framing a Paxos win as bullish for USDH adoption and liquidity. Source: @KookCapitalLLC on X, Sep 12, 2025. For trading, the immediate catalyst is the USDH vote outcome; traders can monitor USDH market depth, volumes, and spreads across venues tied to Hyperliquid and native markets to gauge distribution momentum if Paxos prevails. Source: @KookCapitalLLC on X, Sep 12, 2025.

According to @jchervinsky, there is no GENIUS-compliant stablecoin today because the Act is only a framework with details to be defined by regulators, and it becomes effective 120 days after rulemaking is finalized, with an expected effective date of November 15, 2026, so current rules remain in force until then, source: @jchervinsky. According to @jchervinsky, traders evaluating USDH should focus on compliance with current law now because GENIUS will not alter the regulatory regime until late 2026, source: @jchervinsky. According to @jchervinsky, state regulation offers little benefit if USDH aims to exceed 10 billion in total supply because the federal pathway becomes mandatory above that level and the issuer must be a bank or obtain an OCC charter, source: @jchervinsky. According to @jchervinsky, supporting or opposing USDH proposals based on GENIUS compliance today is premature and the key is whether the team can meet future rules and execute distribution effectively on Hyperliquid, source: @jchervinsky. According to @jchervinsky, the trading takeaway is to treat GENIUS as a 2026 catalyst while prioritizing team execution and distribution as the primary drivers of USDH adoption and liquidity in the interim, source: @jchervinsky.

According to @KookCapitalLLC, community buy-in to Jeff’s ethos built Hyperliquid and makes ethos-aligned Native Markets the best long-term choice in the ongoing USDH proposals. Source: @KookCapitalLLC on X, Sep 10, 2025. According to @KookCapitalLLC, the validator set is expected to favor Native Markets, with the author emphasizing long-term thinking over short-term considerations and stating any validator outcome will be the right choice. Source: @KookCapitalLLC on X, Sep 10, 2025.

According to @KookCapitalLLC, the referenced Ethena USDH proposal is a signal of growing builder demand around Hyperliquid’s roadmap, which traders can treat as a directional indicator for the ecosystem. Source: @KookCapitalLLC on X, Sep 9, 2025. According to @KookCapitalLLC, multiple cutting-edge teams want exposure to Hyperliquid’s future, reinforcing a pro-growth thesis for the venue. Source: @KookCapitalLLC on X, Sep 9, 2025. According to @KookCapitalLLC, the trade idea is to buy HYPE spot and stake it, with the author stating that it is not late to enter. Source: @KookCapitalLLC on X, Sep 9, 2025.

According to @52kskew, HL USDH governance proposals are active and evoke the feel of the original DeFi era, source: @52kskew on X, Sep 9, 2025. According to @52kskew, he has been monitoring these HL USDH proposals and views the resurgence as positive for the ecosystem, source: @52kskew on X, Sep 9, 2025.

According to @Nick_van_Eck on Sep 8, 2025, USDH adoption is being driven by an inclusive, partner-first coalition at Agora, and companies are already reaching out to participate, source: @Nick_van_Eck. Based on this partnership-led approach, traders should set alerts for official Agora partnership announcements referenced by @Nick_van_Eck and watch five signals around those updates: USDH spot liquidity on exchanges, stablecoin swap spreads versus USDT and USDC, DeFi pool TVL, order book depth and slippage, and any issuance or supply disclosures, source: @Nick_van_Eck. Because @Nick_van_Eck indicated USDH will not be insourced to middle management at partners, attention should focus on integrations that can move quickly and the resulting effects on USDH peg stability during rollout communications, source: @Nick_van_Eck. Until specific partners and timelines are disclosed by Agora, treat USDH headlines as event-driven catalysts rather than confirmed fundamentals and manage position sizing accordingly, source: @Nick_van_Eck.

According to Nick van Eck, his team will work with MoonPay to enable in-app perpetual trading across MoonPay’s wallet network so that dozens of wallet companies can trade USDH on Hyperliquid; Source: Nick van Eck on X, Sep 7, 2025. According to Nick van Eck, MoonPay already supports providers like MetaMask, Trust Wallet, and OKX, indicating planned access paths for USDH perpetuals on Hyperliquid from these wallets within the MoonPay-supported network; Source: Nick van Eck on X, Sep 7, 2025. According to Nick van Eck, the announcement does not include a launch timeline, supported market list, or fee structure details; Source: Nick van Eck on X, Sep 7, 2025.

According to @Nick_van_Eck, MoonPay will join the coalition to light up USDH across all MoonPay rails on Day 1, providing immediate distribution for the Hyperliquid ecosystem; Source: @Nick_van_Eck on X, Sep 7, 2025. According to @Nick_van_Eck, this brings access to tens of millions of new users for Hyperliquid on launch, indicating significant scale for USDH reach at inception; Source: @Nick_van_Eck on X, Sep 7, 2025. According to @Nick_van_Eck, MoonPay executive @KeithGrossman stated MoonPay has more licenses and KYCed users than both Stripe and Bridge, highlighting regulatory coverage and user base size relevant for fiat on-ramps; Source: @Nick_van_Eck citing @KeithGrossman on X, Sep 7, 2025. For traders, Day 1 USDH availability across MoonPay rails signals broad fiat on-ramp coverage and immediate user access within Hyperliquid’s ecosystem at launch; Source: @Nick_van_Eck on X, Sep 7, 2025.

According to @Nick_van_Eck, an additional partner will join the USDH coalition to 'massively expand the reach of USDH on Day 1', source: @Nick_van_Eck on X, Sep 7, 2025. Details such as the partner's name, launch timing, and integration scope were not disclosed in the post, source: @Nick_van_Eck on X, Sep 7, 2025. The post flags an imminent announcement about broader USDH access on launch day, a trading-relevant signal for assessing initial availability and liquidity once specifics are released, source: @Nick_van_Eck on X, Sep 7, 2025.

According to @KookCapitalLLC, Hyperliquid announced a USDH ($USDH) stablecoin that will be natively minted and positioned as a Hyperliquid-first asset. Source: @KookCapitalLLC (X), Sep 5, 2025. The builder will be chosen via a democratic vote among validators, confirming that team selection will be determined by validator governance. Source: @KookCapitalLLC (X), Sep 5, 2025. The post does not provide launch timing, so traders should note that availability depends on the validator vote and subsequent development by the elected team. Source: @KookCapitalLLC (X), Sep 5, 2025.