Hyperliquid, a company known for its recent token rally, is making headlines again with two major developments: a planned exchange-traded fund (ETF) and a new community governance protocol.
The company is launching a new stablecoin called USDH and, instead of choosing a development partner themselves, has put the decision to a community vote. Several blockchain firms are in the running, but Native Markets is the current favorite to win. To ensure a fair and democratic process, Hyperliquid has made a significant move by removing its own token holdings from the vote's outcome.
The vote is being conducted through a unique mechanism: HYPE token holders will stake their tokens with a validator who publicly supports one of the competing firms. This process is set to conclude on September 14.
This move, combined with the news of VanEck's plans to launch a HYPE ETF, is generating significant buzz and visibility for Hyperliquid. While this has yet to result in an immediate price increase for the HYPE token, the company's focus on community involvement and its growing presence in the traditional financial space are likely to maintain strong interest in the project.
September 2025, Cryptoniteuae