🚀 Native Markets has obtained the issuance rights for USDH, how should we play this?

Just saw the news, Native Markets actually outperformed old players like Paxos to win the competition for Hyperliquid's USDH stablecoin.

Why them?
• Former Uniswap Labs President MC Lader leads
• BlackRock's off-chain assets + Stripe's on-chain Bridge
• Most aggressive condition: 50% of reserve income is used to directly buy back HYPE.

🔥 How extreme is the buyback力度?

2025 Transcript:
• A total of 32 million HYPE has been repurchased, worth 1.5 billion USD
• Daily repurchase of 125,000, approximately 6.3 million USD/day
• Annualized repurchase of approximately 2.3 billion USD

USDH上线后加成：
• 5.5 billion USDC deposit × 5% yield = 275 million/year
• 50% buyback = 137.5 million additional buyback
• Total repurchase surged from 2.3 billion to over 2.44 billion.

💰 What does this mean?

At the current price of HYPE at $56, 2.44 billion can buy 43.6 million tokens.
= **13% of the circulating supply will be repurchased each year!**

Apple's most impressive buyback plan is only 3-4%, Hyperliquid is taking it to the extreme.

Positive feedback loop: Buyback → Supply decreases → Price rises → More transaction fees → More buybacks

DWF predicts: At this rate, the entire initial circulating supply can be repurchased in 1.5-3.4 years.

How high do you think this buyback flywheel can push HYPE? 🤔

$HYPE #Hyperliquid USDH