Hyper Foundation Earmarks $10M to Pivot Ecosystem to USDC

The initiative targets a broad spectrum of ecosystem participants, including HIP-1 and HIP-3 deployers, HyperEVM protocols, and bridge operators. These teams must navigate technical shifts—such as updating collateral settings and adjusting liquidity routes—to align with the platform's new preference for USDC. Native Markets, which previously won a validator vote to issue USDH in 2025, is among the eligible recipients, signaling a departure from the project's earlier goal of keeping reserve yield internal.

For users, the transition requires active management of balances and positions. While the USDH/USDC spot order book remains operational, the official migration dashboard offers conversion pathways to USDC and fiat currency only until July 17. The strategic pivot follows an integration with Coinbase, which became the network's official USDC treasury deployer in May. By centralizing liquidity into a single stablecoin, Hyperliquid aims to eliminate the friction caused by maintaining parallel systems, effectively ending a competitive experiment that once saw USDH vie for dominance against major industry issuers.