Hyperliquid @HyperliquidX ran a governance vote to pick its native stablecoin issuer. Validators chose the scrappy ecosystem-native team @nativemarkets over Paxos, Ethena, and Frax. Eight months later, Coinbase bought Native Markets' brand assets, USDC now has the stablecoin slot, and USDH is sunsetting. Read more here: https://thedefiant.io/news/defi/coinbase-lands-hyperliquid-stablecoin-role-eight-months-after-governance-vote-picked-native(The Defiant)