The Rollup

Hyperliquid USDH Special Day 2

Sep 10, 2025
Rune Christensen, Co-founder of Sky, sheds light on the future of stablecoins and the innovative USDH proposal. He discusses the importance of compliance and community engagement in decentralized finance. The conversation also dives into competitive dynamics among stablecoins, predicting market trends and the evolving economic landscape. Insights on the role of stablecoins in underbanked regions and the impact of regulatory changes highlight the challenges and opportunities in the ever-shifting crypto world.
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ANECDOTE

Framework's Deep Hyperliquid Involvement

  • Framework disclosed being a top-20 HYPE holder and incubating a major market maker on Hyperliquid.
  • They combine token ownership, trading relationships, and contributor staff to influence the ecosystem.
INSIGHT

Stablecoins As Hyperliquid's Growth Engine

  • Stablecoins on Hyperliquid can become a dominant economic engine that multiplies protocol buybacks and yields.
  • Vance and Rune argue multi-ticker, diversified yield strategies outperform pure T-bill approaches for long-term upside.
ADVICE

Judge Proposals On More Than Revenue Share

  • Evaluate USDH proposals across multiple dimensions, not just headline revenue share.
  • Consider yield strategy, jurisdictional risk, distribution plan, and long-term commitment of stewards.
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