Pinned
To support the USDH sunset process, users may now redeem USDH on HyperEVM 1:1 to USDC on HyperCore with no fees via @AcrossProtocol
Please convert any remaining USDH you may have.
Native Markets
190 posts
Native Markets
@nativemarkets
Joined September 2025
- Native Markets reposted
We're kicking off the USDH → USDC collateral migration tomorrow. Starting June 10th, we'll begin winding down existing markets and settling open positions at mark price, working from least to most active over the coming days, ahead of the full transition to USDC. The final day - Native Markets reposted
In light of the USDH sunset, the Felix HIP-3 DEX and all live markets will begin sunsetting on June 19 and conclude on June 20. All traders are encouraged to close active positions before this time. Another reminder of this sunset will be sent in the Felix Discord and Telegram - Replying to @nativemarketsDetailed conversion instructions are available at usdh.com/migration
- Native Markets repostedAs part of the USDH sunset, Felix will be deprecating both USDH vaults on Felix Vanilla. Users should repay any open USDH borrow positions and transition supplied and borrowed USDH to USDC. Users can convert their outstanding USDH balances to USDC through the HyperCore USDH/USDC
- Replying to @nativemarketsThe above changes are now in effect. Please convert any remaining HIP-1 USDH to USDC via the USDH/USDC HyperCore order book or USDH dashboard.
- As part of the USDH sunset process, Native Markets will unstake the HYPE required for AQA + PQA status tomorrow. Existing USDH-denominated HIP-3 markets will continue to operate during and after the unstaking process. New markets will be unable to be created, and AQA benefits
- Replying to @nativemarketsPreviously onboarded users may continue to convert USDH to USDC or fiat via the USDH Dashboard. Minting USDH has been disabled. More information is available at usdh.com/migration
- Reminder: USDH will be sunset over the coming weeks. Please convert your USDH to USDC. The easiest way to convert USDH is via the HyperCore USDH/USDC spot order book. We are ensuring ample liquidity is present during this brief migration period.
- Native Markets repostedNotice on sunsetting Felix USDH-denominated HIP-3 markets will be shared in a future post; for now, they remain active. USDH deposits on Felix Vanilla are unchanged, and users can continue to lend USDH while USDH is live if they choose. Users are encouraged to change USDH borrow
- Native Markets repostedMarkets by Kinetiq will work with @HyperliquidX and @nativemarkets to ensure a seamless transition to USDC for the margin asset for the DEX. First, credit where it's due: Native Markets pioneered the first production-scale protocol-aligned stablecoin. AQAv2 wouldn't exist
Coinbase has announced its plan to activate AQAv2 on USDC as the treasury deployer, with Circle serving as the technical deployer responsible for CCTP and native cross-chain infrastructure. Both Coinbase and Circle have committed to stake HYPE to activate AQAv2. As part of this - Native Markets reposted
Sunsetting USDH on HyperLend In light of todays announcement that USDH will begin winding down operations on Hyperliquid we have made the decision to begin the process of sunsetting USDH borrowing and lending on HyperLend. Within 48 hours users will no longer be able to supply - Native Markets reposted
With Native Markets, we set out to create a stablecoin platform for Hyperliquid that stopped value leakage from its ecosystem and minimized its third party dependencies. These goals are achieved with the formalization of USDC as an AQA. Today’s announcement marks what I view to
