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Hyperliquid removes Team $HYPE from USDH vote, enabling pure governance and possible Paxos win
Hyperliquid's pivot to a community-driven governance model may empower new contenders and foster greater transparency in stablecoin selection.
Hyperliquid removed team-staked $HYPE tokens from validator weighting in the USDH vote today, reducing Native Market’s voting weight from 75% to 66% and creating a pure governance structure for the stablecoin ticker decision.
The move excludes team-staked tokens from the weighting calculation, diminishing insider influence and expanding community input on the stablecoin partnership. This change opens the possibility for Paxos to secure the USDH ticker, with their proposal offering 95% of USDH reserve yield for $HYPE token buybacks.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.