Hyper Foundation Allocates $10M to Support USDH Exit Migration

ChainCatcher reports that the Hyper Foundation has announced a grant of approximately $10 million to developers affected by the USDH wind-down, to cover migration costs and support an orderly transition of the ecosystem. This round of funding will be allocated to ecosystem participants including HIP-1 spot deployment teams, HIP-3 perpetual contracts deployment teams, HyperEVM protocols, the USDH:USDC cross-chain bridge, and Native Markets. Migration grants are intended for teams migrating USDH-related markets or deployments to USDC, while wind-down grants are for projects choosing to terminate USDH-related operations—these grants are lower than equivalent migration amounts to encourage a smooth ecosystem conclusion. HIP-1 and HIP-3 grants are calculated based on auctioned deployment costs, while HyperEVM grants are assessed according to the scale of USDH TVL impacted. All recipients must complete migration or wind-down operations by the end of July. For users, USDH holders must follow protocol-specific instructions and can convert their holdings to USDC via spot markets or the HyperEVM pathway; the official team has provided fee-free or spot trading channels to facilitate asset conversion. The Hyper Foundation also noted that the USDH migration has progressed smoothly thanks to the active cooperation of developers and the community, and expressed gratitude to all involved builders.