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About USDH
USDH is a fiat-backed stablecoin built natively for the Hyperliquid ecosystem, designed by Native Markets and issued by Bridge Building Inc. It is the first Aligned Quote Asset (AQA) on Hyperliquid, offering lower taker fees, enhanced maker rebates, and faster access to fee discount tiers. USDH is fully reserved 1:1 by GENIUS-ready assets including cash, short-term US Treasuries, repo agreements, and tokenized equivalents (e.g., BlackRock BUIDL, Superstate USTB), with reserves attested monthly by BPM, a top-40 accounting firm. Cash is custodied at US-regulated banks, TradFi assets at JP Morgan Chase, and crypto assets via Fireblocks MPC infrastructure. Native Markets contributes 50% of gross revenue to the Hyperliquid Assistance Fund to buy back HYPE, with contributions made programmatically on-chain.
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