Hyper Foundation allocates $10 million for USDH migration

The Hyper Foundation is allocating approximately $10 million to support builders affected by the discontinuation of USDH. The grants are intended to cover migration costs and to recognise efforts towards an orderly wind-down. Recipients must complete their migration or wind-down process by the end of July.

Hyperliquid is available at OKX and Bybit.

Who is eligible for the grants?

The Hyper Foundation will contact all eligible recipients directly. The grants go to a broad group of parties: HIP-1 spot deployers, HIP-3 perp deployers, HyperEVM protocols, USDH:USDC bridges and Native Markets. All involved parties that integrated USDH may qualify, depending on what they do with their deployment.

There are two types of grants. Migration grants are for teams that move their markets or deployments to USDC. Wind-down grants are intended for teams that cease their USDH-dependent activities instead of migrating to a new asset. The latter category receives a lower amount than teams that do migrate.

How are the amounts calculated?

The size of the grants varies per type of participant. For HIP-1 and HIP-3 parties, the amounts are based on the original auction and deployment costs. For HyperEVM protocols, the TVL affected by the USDH sunset is used as a basis for calculating the grant amount.

The announcement comes via the official Hyperliquid announcement channel and makes clear that the foundation is taking responsibility for the consequences of ending USDH. All recipients commit to an orderly completion of the migration or wind-down process before the end of July. You can read more about the platform in our Hyperliquid review.