Hyperliquid Stablecoin USDH Auction Prediction: Paxos Winning Probability Rises to 44%

By: theblockbeats.news|2026/03/28 16:01:16

BlockBeats News, September 10, according to the Polymarket page, in the Hyperliquid stablecoin USDH auction battle, Native Markets' winning probability has dropped to 52%, Paxos' winning probability has risen to 42%, ranking second, and Ethena ranks third with a winning probability of 8%.

Prior reports indicated that stablecoin issuer Paxos updated the USDH proposal to version 2, which provided three upgrades:

· Partnership with PayPal, where HYPE is launched on PayPal/Venmo (subject to regulatory approval) and offers free deposits and withdrawals for USDH, a $20 million ecosystem incentive, and global payment integrations between Checkout, Braintree, Venmo, Hyperwallet, and Xoom;

· Clear AF-first incentive structure, where Paxos can only earn rewards after reaching a TVL milestone, capped at 5%, and all fees are collected in HYPE tokens;

· Paxos can legally issue stablecoins in Europe to ensure that USDH can expand globally in a fully compliant manner.

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