In a thrilling game of digital coin toss, Polymarket bettors are practically putting their money on Native Markets to claim the prize: the highly coveted right to introduce Hyperliquid’s upcoming native USD stablecoin, set to be known as USDH. A spectacular 94% chance-because who wouldn’t bet on that?
Hyperliquid Stablecoin Race Turns Lopsided as Native Markets Nears Lock-In
In the past week, several contenders have been scrambling for position, each eager to power the soon-to-debut Hyperliquid stablecoin, fittingly named USDH. Paxos, Agora, Bastion, Native Markets, Ethena, Sky (formerly MakerDAO), and Frax have all tossed their hats into the ring, presenting dazzling blueprints for yield-sharing, ecosystem tie-ins, and some very creative backing mechanisms.
Over at Polymarket, a massive $2.62 million wager pool shows Native Markets as the undeniable favorite to secure the USDH infrastructure deal. The vote to decide this thrilling spectacle will occur on Sept. 14, 2025, from 10:00 to 11:00 UTC. As of now, bettors are giving Native Markets an overwhelming 94% chance of victory, while Paxos is trailing far behind with just a measly 3%. The odds couldn’t be more lopsided if they tried.
To add to the drama, Polymarket puts Paxos at 22% with $541,941 riding on it, while Ethena stumbles along at a paltry 2%, losing 4% on $590,052 in trades. Sky? Sky barely registers-less than 1% support on $324,014. Frax and Agora aren’t doing much better, lingering under the 1% mark, backed by $210,002 and $196,637 respectively. And then there’s Native Markets, which, interestingly, stands apart with no prior history of minting or managing stablecoins. A mystery, wrapped in an enigma, served with a side of surprise.
Native Markets was created with a singular mission: to compete for the right to issue Hyperliquid’s USDH stablecoin, with the help of those already entrenched in the Hyperliquid ecosystem. In just three days, the community will find out if Hyperliquid will crown Paxos, Agora, Bastion, Native Markets, Ethena, Sky, or Frax. But beyond Polymarket wagers, Native Markets is also leading in early validator votes. A nail-biter indeed.
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2025-09-11 19:57