Native Markets claimed the US dollar-pegged stablecoin ticker following a heated bidding war closely watched by the crypto community.
Native Markets, one of the teams that submitted a proposal to issue and manage the Hyperliquid crypto exchange’s US dollar stablecoin (USDH), officially claimed the USDH ticker on Sunday, following a community vote.
The project will deploy the inaugural Hyperliquid Improvement Proposal (HIP) for USDH and an ERC-20 token, the token standard for the Ethereum network, in the coming days, Max Fiege, founder of Native Markets, said in an X post. He also outlined the next steps:
Native Markets’ odds of winning the ticker spiked to over 99% on Saturday, on prediction market Polymarket, following synthetic stablecoin issuer Ethena’s withdrawal from the race on Thursday.
