This week, Hyperliquid received competing proposals from Paxos, Agora, and Frax to supply stablecoin infrastructure for USDH, with each bidder emphasizing regulatory posture, distribution, and how yield from reserves would be shared with the 0 Is Now Weighing Multiple Proposals 1 News previously reported on Paxos on Sunday, Sept. 7, and Paxos’s written bid
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