About USDhl

What is USDhl?

USDhl is a fiat-backed stablecoin custom-built for the Hyperliquid ecosystem. It serves as a building block for HIP-3, FX, payments, and more.

Furthermore, unlike legacy fiat-backed stables, yield from USDhl is distributed back to users.

Additional Info:

• USDhl is powered by M0's stablecoin infrastructure - it is backed 1:1 by M, a wholesale dollar collateralized by short-term treasuries.

• USDhl is a public good built by Felix.

Core Documentation

USDhl Architecture

A detailed explanation of USDhl's design and how M0's infrastructure is leveraged.

Rewards Program

An overview of how USDhl's revenues are distributed back to users via a 2-week epoch rewards program.

Use Cases

A guide on how USDhl can be used: earn with USDhl, trade with USDhl, and pay with USDhl.

Advanced Documentation

Developers

Documentation on the contract deployment addresses and how to interact with USDhl programmably.

Security

A breakdown of the audits for each contract deployment.