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Hyperliquid Opens Validator Vote for USDH Stablecoin and Slashes Spot Fees by 80%

The initiative aims to capture stablecoin economics within the ecosystem under a model that fits emerging U.S. rules.

Hyperliquid to cut fees and put USDH ticker up for validator vote
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Overview

  • Hyperliquid has reserved the USDH ticker and is taking proposals with deployer addresses, with validators set to approve one address through an on-chain vote before a required gas auction.
  • Decrypt reports a five‑day voting window for validators on Discord, and no deployer has been approved so far.
  • The next network upgrade will cut taker fees, maker rebates, and user volume contributions by 80% for spot pairs between two quote assets to bolster liquidity.
  • The platform plans to make spot quote assets permissionless starting on testnet, with staking requirements and slashing criteria to be detailed in future updates.
  • An existing project, Hyperstable, calls the process unfair and community posts question a proposer’s head start, while industry commentary suggests USDH adoption could redirect meaningful revenue from USDC to HYPE holders.