Hyperliquid should launch its own fiatcoin.
User could deposit USDC, get swapped 1:1 for hypeUSD, which earns 4.25%. Seamless UX.
Hyperliquid currently custodies $3.4B in USDC --likely yielding 0%. That’s a relatively free $114M yearly left on the table / given to circle.
I know, I know. it probably doesn't make sense because that would mean dealing with regulators.
"We'd like a license so that our no-KYC centralized exchange can buy treasury bills with user deposits 🤓..."
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