Coinbase becomes the treasury deployer for USDC on Hyperliquid
The USDH era is coming to an end, and the rules of the DeFi game are changing.
Key insights from the new partnership:
- New AQAv2 standard: ~90% of the yield from USDC treasury reserves (T-bills, etc.) will no longer stay with the issuer, but will be routed back into the protocol.
- Boost for
$HYPE: Thanks to this, Hyperliquid could potentially generate ~$200M/year.
- Coinbase has already staked the mandatory 500k
$HYPE (~$31M). Circle also has to do this, but their on-chain purchase is still ahead
A massive catalyst for the entire ecosystem! 🚀
Coinbase is now the official deployer of
@HyperliquidX's USDC treasury wallet.
We will be activating AQAv2 from the two addresses below:
0x4E5319dEb1072B01439EE674db5C321d11fd96F8
0xc20699185c15D0a2fD65779BB5d69f5b0B113c00