$10M Grant Program Supports Builders Amid USDH Sunset

Hyper Foundation is allocating $10 million in grants to support builders affected by the USDH sunset. This move is part of Hyperliquid's wider shift towards USDC, with Coinbase now serving as the official USDC treasury deployer.

The grant program will cover migration and wind-down costs for eligible teams, including HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges, and Native Markets. These builders must complete migrations or orderly shutdowns by July 31st to be eligible for the grants.

The USDH sunset follows a competitive stablecoin race that drew attention across DeFi, with Native Markets ultimately winning the validator vote to issue USDH in September 2025. However, as trading activity shifts towards USDC, the ecosystem is simplifying markets and reducing conversion steps.