Hyperliquid Stablecoin USDH Auction Prediction: Paxos Winning Probability Rises to 44%

On September 10th, based on the Polymarket page, in the Hyperliquid stablecoin USDH bidding war, the winning probability of Native Markets has decreased to 52%, while the winning probability of Paxos has risen to 42% and ranked second. Ethena ranks third with a winning probability of 8%. Previously reported, the stablecoin issuer Paxos updated the USDH proposal to version 2, which provided three upgrades: · A partnership with PayPal, where HYPE will be listed on PayPal/Venmo (subject to regulatory approval), offering free deposits and withdrawals for USDH, a $20 million ecosystem incentive, and global payment integrations between Checkout, Braintree, Venmo, Hyperwallet, and Xoom; · A clear AF-first incentive structure, where Paxos can only earn rewards after reaching a TVL milestone and is capped at 5%, and all fees are collected in HYPE tokens; · Paxos can legally issue stablecoins in Europe, ensuring that USDH can expand globally in a fully compliant manner.