Personally also endorsing
@Paxos .
- Previously managed $25B without any exploits or hacks. Competent.
- Most experienced and ready infrastructure by far. US, EU, Asia, Middle east. Have compliance & on/off ramps ready for all.
- PayPal, Venmo and more all ready to onboard HYPE for millions of global users.
- No conflicts of interest. Stripe has their own L1 to worry about. BlackRock has many investments in other chains and projects when it comes to Native. Ethena has their own stables and partnership's with Binance etc.
- BlackRock doesn't sound "native" at all. It's the most anti-crypto and anti-HL ethos I can think of.
- Paxos is the easiest for institutions to trust with billions.
All things considered, Paxos is the obvious choice for me. Sky seemed a very good DeFi-only option. I believe Native and Ethena have other allegiances rather than just being the best purely for HL & HYPE and can cause problems or "extract" from the eco long term. This is my personal opinion.
Hyperliquid.
📢 Purrposeful x HyBridge x PiP will be endorsing Paxos in the upcoming USDH governance vote
We recognize the tremendous quality of submitted proposals but after careful consideration, our decision centers on these key factors:
✅ Compliance and credible neutrality
✅ Unmatched network effects
✅ Strong HL alignment (required AF contribution)
✅ Own infrastructure and track record of delivering at scale, globally
✅ Ambition and clear vision to scale USDH to $1B, $10B, and $100B
I’m excited to see the original Looped Collective team (now part of Paxos) cook with full support of a global leader in stable coin issuance. I’ve worked with them since day 1 of EVM and I have confidence in them helping shape roadmaps and future products with strong HL DNA. Builder codes and HIP-3 at scale are incredibly exciting.
On a personal note, this is my 9th year in crypto, and I've rarely seen this level of passion and thoughtful debate around governance. Our ecosystem truly is special. Regardless of the vote outcome, I hope all teams and the community maintain this energy, continue building and working together. We have everything needed to propel Hyperliquid 100x forward.
If you align with our analysis, consider delegating to Purrposeful x HyBridge x PiP before Sep 14. Your vote matters!
Hyperliquid