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Hyper USD (USDHL)
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USDhl is a HyperEVM L1-native, fiat-backed stablecoin fully collateralized 1:1 by the M dollar instrument (short-term U.S. Treasuries), with 104% over-collateralization and on-chain proof-of-reserves. Unlike legacy stables, USDhl's ~4.3% APY yield is distributed back to users as HYPE rewards. It powers DeFi lending, AMM liquidity, perpetual trading collateral, and zero-fee payments within the Hyperliquid ecosystem.
USDhl is a Solvent-backed stablecoin on HyperEVM, pegged 1:1 to the U.S. dollar via the “M” instrument, and designed to deliver real yield and DeFi utility within Hyperliquid.
USDhl is backed 1:1 by M (a Treasury-collateralized dollar) at 104% over-collateralization. Daily on-chain proof-of-reserves are published via the M0 mechanism for full transparency.
USDhl uses an open issuance network: after initial onboarding, anyone can mint or burn USDhl on-chain by depositing or redeeming the required collateral.
Supply USDhl to Felix Vanilla Markets to earn borrower interest plus embedded Treasury yield, or provide USDhl liquidity in Curve/Hyperswap pools to earn swap fees, HYPE rewards, and yield.
Every two weeks, HYPE tokens are airdropped to USDhl users proportional to their usage of USDhl (trading, lending, liquidity).
Yes. USDhl qualifies as HIP-3 collateral for Hyperliquid perpetual markets, so traders earn stable yield on collateral even while positions are open.
Use HyperCore's `transfer()` on Hyperliquid L1 for zero-fee, near-instant cross-border USDhl transfers, ideal for payments and FX.
USDhl is available exclusively on Hyperliquid's on-chain DEX venues: Hyperliquid (USDHL/USDC), Hybra Finance V3 (USDHL/WHYPE), and HyperSwap V3 (USDHL/USDC, USDHL/WHYPE).
As a Hyperliquid-compatible token, USDhl works with any wallet that supports adding custom EVM networks, including MetaMask, Trust Wallet, Coinbase Wallet, Rainbow, Ledger, and Trezor.
USDhl offers real, transparent Treasury-backed yield paid as HYPE, plus seamless integration for lending, liquidity provision, perpetual trading, and fee-free payments—turning dollar deposits into a productive DeFi asset.
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