Hyperliquid USDH Battle Ends: Ethena Pulls Proposal, Plans hUSDe and HIP-3 Push

TLDR: Ethena Labs withdrew from Hyperliquid’s USDH bid after acknowledging validator and community concerns. Founder Guy Young said Ethena will focus on hUSDe, USDe savings, and new HIP-3 market designs. Hyperliquid’s community favored a native team, signaling strong grassroots support for local builders. Ethena continues development on hedging flows and synthetic dollars despite stepping back [...]

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