#What is Hyperliquid's on-chain validator vote for the USDH stablecoin ticker?
Hyperliquid is embarking on a groundbreaking initiative to conduct an on-chain validator vote aimed at selecting a team to oversee the USDH stablecoin ticker. This strategic move reflects the protocol's commitment to enhancing user experience and liquidity within the trading environment.
#How will Hyperliquid enhance trading fees and liquidity?
To improve the trading experience, Hyperliquid plans to reduce fees associated with its spot trading. This will involve an impressive 80% reduction in taker fees, maker rebates, and user volume contributions for trading pairs that involve two spot quote assets. This change is part of the forthcoming network upgrade and aims to create a more seamless trading experience, ensuring that liquidity flows more freely.
#What is required from teams that want to acquire the USDH ticker?
Teams interested in obtaining the USDH ticker must engage in an on-chain validator voting process where they are required to submit comprehensive proposals that include their deployment address. Once selected, the team will participate in a gas auction specifically geared for spot deployments, further adding a competitive element to the acquisition of the ticker.
#How will validators participate in the ticker acquisition process?
The validators' involvement will take place via Hyperliquid's Layer 1 transactions, voting to approve a designated user address for acquiring the USDH ticker. This process mirrors the existing mechanism currently employed for delisting votes, ensuring a structured and transparent approach to the selection. Hyperliquid is firmly in pursuit of teams capable of creating a compliant USD stablecoin that remains aligned with the principles of Hyperliquid.
#What future plans does Hyperliquid have for spot quote assets?
Looking ahead, Hyperliquid intends to transition spot quote assets to a permissionless model, beginning with an implementation on the testnet. This evolution will introduce new staking requirements alongside slashing criteria, further details of which will be shared in subsequent announcements. These changes are anticipated to bolster the overall functionality and appeal of the platform, benefiting both users and developers alike.