Key Takeaways:
Coinbase takes the treasury deployer role for USDC on Hyperliquid, where supply has grown to roughly $5 billion, up 2x year-over-year.The AQAv2 framework ends fragmentation between USDC and USDH, redirecting reserve yield back to the Hyperliquid protocol for HYPE holders.Native Markets’ USDH will sunset over coming months, with feeless USDC conversions available to users through the USDH Dashboard.The Hyper Foundation is providing grants to eligible HIP-3 deployers, HIP-1 deployers, and builders who integrated USDH to cover migration costs. Hyperliquid said those grants “reflect an ongoing commitment to teams who choose to build on Hyperliquid and align with the protocol.”
