Paxos Pitches USDH: PayPal, Payouts, and a Penny for Paxos’ Thoughts 💸

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Dearest reader, let us sashay into the glittering world of Paxos Labs, where blockchain and fintech collide with all the subtlety of a drunken fox. Today, they unveil Version 2 of their USDH stablecoin proposal, a glittering sequel to their September 7 debut. One might say they’re determined to outdance the competition in Hyperliquid’s stablecoin ballet.

This new iteration boasts three grand upgrades: a PayPal partnership (because nothing says “trust” like Venmo), community rewards so generous they’d make Scrooge blush, and global expansion efforts that ignore geopolitics like a tourist in a war zone. As the statement pompously declares, “Paxos only wins if Hyperliquid wins-how quaintly selfless!”

PayPal Partnership: The Usual Bureaucratic Tango

Behold! The first glittering jewel in Paxos’ crown is a partnership with PayPal, where HYPE tokens will soon be available on Venmo, pending regulatory approval (because nothing says “urgency” like red tape). USDH will also enjoy free on/off ramps, because nothing says “democratize finance” like making it easy for users in all supported countries.

PayPal, ever the generous host, is throwing in $20 million in incentives, because why not? HYPE and USDH will also grace PayPal Checkout and Braintree, including the new “Pay With Crypto” solution. One might say it’s a love letter written in blockchain.

Community Rewards: A Tale of Reinvestment and Resentment

All USDH revenue will be reinvested into the platform until TVL hits $1 billion. After that, Paxos’ fees are capped at 5%-a noble gesture, really. It’s the DeFi version of “I’ll only get rich if the world gets richer.”

Meanwhile, ecosystem rewards will dangle carrots before partners and platforms. The Hyperliquid community can vote on distribution changes, because nothing says “democracy” like letting people choose how their money is spent. Paxos also boasts of its legal stablecoin prowess across Europe, because nothing says “global expansion” like ignoring half the planet.

Growing USDH: A Circus of Competitors

Paxos, ever the charming host, already powers stablecoin services for Stripe, Mastercard, and Robinhood. Yet the USDH bidding war is a veritable tea party of contenders: Frax Finance, Agora, and even Sky (yes, the one with the weather). Hyperliquid, the gracious ringmaster, will let validators vote on the winner by September 14, while the Foundation remains “neutral” like a diplomat at a riot.

All this drama, dear reader, is merely a reminder that DeFi is less about finance and more about performance art. Now, if you’ll excuse me, I have a Venmo transaction to make. 💸✨

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2025-09-10 15:06