Use Cases

USDhl unlocks the following use cases on Hyperliquid L1.

I. Passive Savings

Where to deploy	How it works	Why USDhl
Felix Vanilla Markets (lending)	Supply USDhl → earn borrower interest + embedded Treasury yield	Beats zero‑yield USDC/USDT without extra risk
HyperEVM AMMs (Curve / Hyperswap)	Add USDhl liquidity → earn swap fees, HYPE rewards, Treasury yield	Beats zero‑yield USDC/USDT without extra risk

II. Perps Margin

• HIP‑3 enables USDhl to be recognized as first‑class collateral for new perp markets.

• Traders post USDhl margin and continue to earn stable yield while positions are open - this cuts the cost of active perp positions.

Example: A 10 × long ETH perp financed with USDhl costs nothing in opportunity cost versus USDC,.

III. Payments & Cross-Border Transfers

HyperCore’s zero‑fee transfer() function turns Hyperliquid L1 into a cheap settlement rail for payments. Overtime, as more capital comes on Hyperliquid, we expect the L1 to be a utility for money movement between parties, with USDhl one of the core assets used for this use case.