DeFi Drama: Ethena Throws Hat in Hyperliquid’s USDH Bidding Ring 🎩💸
The brains behind USDe and USDtb have concocted a version of USDH backed entirely by USDtb-a stablecoin cozying up to BlackRock’s BUIDL fund and soon to be birthed through Anchorage Digital Bank. If chosen, Ethena has vowed-on its honor as a blockchain entity-to return 95% of reserve revenue to the Hyperliquid community. And because no DeFi story is complete without a touch of governance theater, they’ve proposed a “guardian network” of elected validators to keep everyone honest. Or at least pretending to be. 🦹‍♂️








