Bring value back to
Hyperliquid. Earn more.

USDhl is a fiat stable custom-built for the Hyperliquid ecosystem, serving as a building block for HIP-3, fx, payments, and more.

Total Supply

Collateral Yield

4.3%

Next Reward Distribution

July 23, 2025

HYPE Distributed (Last 30D)

1,541.38 HYPE

Brasília

Payment: $52.63 USDhl

London

Order: 500 NVDA/USDhl

Tokyo

Lend: 6.7% yield USDhl

A fiat stable powering
global finance

Use USDhl to save on dollars against inflation, trade financial markets, transfer money globally, and more.

Backed by treasuries

USDhl is over-collateralized by U.S short term treasuries. Reserves are 104% collateralized and fully verifiable via M0.

Rewarding users for usage

Revenues generated from the treasuries collateral (4%+ APY) are used as additional incentives to attract HyperEVM activity.

Proliferated across HyperEVM

Supported across major AMM venues (e.g Curve, Hyperswap) and lending venues on Hyperliquid EVM.

Why USDhl?

A better model for fiat stablecoins

Bridged USDC

USDhl

Transparency

Monthly reports

Daily proof-of-reserves

Open Network

Walled issuance network

Open, on-chain issuance network

Yield Distribution

Private balance sheet

HYPE rewards distributed to users

	Bridged USDC	USDhl
Transparency	Monthly reports	Daily proof-of-reserves
Open Network	Walled issuance network	Open, on-chain issuance network
Yield Distribution	Private balance sheet	HYPE rewards distributed to users

Security

Audits

USDhl and the M0 protocol have been reviewed by multiple top-tier auditing firms to ensure collateral integrity, network operations and functionality.