Unchained Why the War Over the USDH Ticker on Hyperliquid Is Bullish for Crypto - Ep. 902
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Sep 12, 2025 Shuyao Kong, co-founder of MegaETH, dives into the dramatic battle for the USDH ticker on Hyperliquid. She reveals why they chose Ethena as their partner for their new stablecoin, USDm, stressing the importance of aligning with Hyperliquid over short-term gains. The conversation highlights the need for both yield-chasing and yield-agnostic stablecoins, contemplating the potential sidelining of giants like Circle and Tether amid this competitive landscape. Tune in for insights on compliance and the evolving dynamics within the stablecoin market.
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Competition Returns Value To Users
- Competition for stablecoin tickers returns economic value to users and developers.
- Shuyao says this shift demonstrates protocols reclaiming economic value for their communities.
Launch Timing Shifted By USDH Drama
- MegaETH moved its USDm announcement earlier because Hyperliquid's USDH drama dominated attention.
- Shuyao describes working over the weekend to accelerate their announcement.
Choose Partners That Weather Storms
- Pick partners by evaluating their team, commitment, and ability to weather compliance storms.
- Shuyao recommends choosing partners who understand and value your ecosystem.
