[Sky Joins the Competition for USDH Stablecoin Issuance Rights under Hyperliquid] BlockBeats News, September 9 – Sky (formerly MakerDAO) has joined the competition for USDH stablecoin issuance rights under Hyperliquid. Sky co-founder Rune stated on the X platform: - USDH will gain instant liquidity of $2.2 billion USDC for off-chain redemption; - Sky can deploy its balance sheet of over $8 billion to Hyperliquid; - All USDH on Hyperliquid can achieve a 4.85% yield, higher than treasury yields, with all 4.85% yield generated by USDH allocated to the HYPE buyback fund; - Sky can provide $25 million in funding to create an independent Hyperliquid Star project, enabling the autonomous development of Hyperliquid DeFi; - Sky can transfer its buyback system to Hyperliquid, leveraging over $250 million in annual profits to build USDH liquidity.