Thoughts on Paxos' new proposal: -HYPE listing is pretty significant as PayPal/Venmo are selective with assets (Both only have BTC, ETH, SOL, LTC, BCH, and LINK). Can't tell exactly the demand but 2024 PayPal 10-K listing shows that they custodied $2.8B of crypto funds - so not insignificant. Would also be the first US venue to offer HYPE. -"Both HYPE and USDH will be added to our brokerage infrastructure (...) offering builder code access to the order flow brought in from distribution platforms." Implication here is that assets are integrated via builder codes (revenue goes to HL). -"We can onboard tokenized asset issuers who are bringing coveted off-chain assets on-chain and are looking for access to instant liquidity and active traders, making Hyperliquid their destination of choice." Actually think this is the key point, Huge to have Paxos (largest Tokenized gold issuer) assisting with bringing off-chain assets and making them tradable on Hyperliquid. -"Paxos will also enable...
72 hours. Every comment read and concern addressed.
We’re out of the war room, with @PayPal + @Venmo on board.
USDH Proposal v2:
❏ PayPal ecosystem integrations + $20M incentives
❏ AF pledge starts at 20% and rises w/ TVL
❏ Paxos takes 0 until >$1B, capped at 5% past $5B
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