Hyperliquid Slashes Trading Fees by 80% Ahead of Native Stablecoin Launch

Decentralized perpetual futures exchange Hyperliquid is preparing to roll out its first native stablecoin while slashing spot trading fees by 80%, in a move designed to boost liquidity and deepen its hold over the decentralized finance (DeFi) derivatives ￰1￱ exchange announced on Discord that the next network upgrade will cut taker fees, maker rebates, and user volume contribution for spot pairs between two quote assets by ￰2￱ the fee changes, Hyperliquid has reserved the USDH ticker for a new dollar-backed stablecoin, which will be allocated through a validator ￰3￱ seeking to issue USDH must submit proposals including their deployment address, with the winning bid to be selected by validator quorum in a fully on-chain ￰4￱ Stablecoin Aims to Anchor Hyperliquid’s Expanding DeFi Suite USDH is intended as a “Hyperliquid-first” compliant stablecoin that will integrate across the platform’s ecosystem, including perpetuals, spot markets, staking, and protocols such as Kinetiq, Hypurrfi, and ￰5￱ exchange described stablecoins as the “backbone of any L1,” with USDH expected to serve as a settlement layer that can expand total value locked (TVL) across DeFi applications.) September 2, 2025 Despite the setback, Hyperliquid’s $HYPE climb in August rose by 4.5% to $45.62 , edging toward its all-time high on strong liquidity and protocol ￰6￱ token powers Hyperliquid’s on-chain perpetuals DEX, which operates a Central Limit Order Book (CLOB) and supports smart contracts via ￰7￱ is used for gas, staking, and ￰8￱ project’s tokenomics tie protocol fees to both an Assistance Fund and the HLP pool , which buy back $HYPE.

Current revenue distribution stands at 54% and 46%, ￰9￱ around HYPE intensified after former BitMEX CEO Arthur Hayes predicted the token could deliver 126x returns by 2028. Hayes’ thesis assumes Treasury-backed stablecoins will reshape global banking, driving trillions in deposits into compliant DeFi venues like Hyperliquid. @CryptoHayes says HYPE could surge 126x by 2028 as $10T stablecoin boom is set to reshape finance. #Hyperliquid #Stablecoin ￰0￱ — ￰10￱ (@cryptonews) August 28, 2025 Institutional interest is ￰11￱ himself acquired 58,631 HYPE tokens worth $2.6 million, while 21Shares listed exchange-traded products on Switzerland’s SIX ￰12￱ say expansion into tokenized assets and fintech integrations could further strengthen Hyperliquid’s position in the coming years.