Web3_s_Rewritten_Rules__De-Banking_AI_Mules_and_the_Chaos_of_.mp3
Hyperliquid’s launch of its native stablecoin, USDH, is more than just a product upgrade; it’s a declaration of exchange sovereignty. At the same time, Polymarket, once sidelined, has regained regulatory leniency and reopened at the very edge of U.S. jurisdiction. Meanwhile, Justin Sun and WLFI have staged a full-blown on-chain Rashomon, shifting from alliance to freeze, from spotlight to sacrifice. The question of what “on-chain freedom” truly means remains unsettled.
We are in a stage of structural rewiring, blurred rules, and shifting narratives. Faith has not yet collapsed, but order is being rewritten.
Welcome to this edition of the Biweekly Digest, where we observe in uncertainty, ask questions in the fog, and leave you with one hidden Easter 🥚🎉 along the way.
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Mask Network (mask.io) on Twitter / X
Hyperliquid has officially launched USDH, its own native stablecoin, this cuts reliance on Circle while capturing the yield from reserve assets for itself.
On the governance side, USDH distribution will be determined through on-chain voting, with teams able to submit proposals to win deployment rights. And with Hyperliquid posting $398B in derivatives and $20B in spot trading volume just last month, market demand is practically guaranteed.