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Circle Joins Hyperliquid as USDC Expands Onchain

CW 38. Circle launched native USDC on Hyperliquid and became a direct HYPE holder, signaling deeper involvement in the ecosystem. Curve proposed Yield Basis, a new protocol to boost bitcoin liquidity with $60M crvUSD. Meanwhile, LMAX introduced BTC and ETH perpetual futures with up to 100x leverage.

Circle Joins Hyperliquid as USDC Expands Onchain

Circle becomes a HYPE holder

Stablecoin issuer Circle is expanding into Hyperliquid with an investment and the launch of native USD Coin on the protocol, as stablecoin competition on the network intensifies.

According to a Tuesday announcement, Circle is now a stakeholder in the Hyperliquid ecosystem, directly holding its native cryptocurrency Hyperliquid (HYPE). Circle is also considering becoming a validator for the protocol.

“This launch is the first step toward enabling USDC deposits into Hyperliquid’s spot and perpetuals exchange on HyperCore,” Circle said on X.

Curve to boost BTC liquidity

Curve Finance founder Michael Egorov proposed establishing a protocol called Yield Basis to create three bitcoin-focused pools capped at $10 million each.

Under the proposal, $60 million of Curve's crvUSD stablecoin will be minted before Yield Basis starts up. Funds from selling the tokens will support three bitcoin-focused pools; WBTC, cbBTC and tBTC, each capped at $10 million.

Yield Basis will return between 35% and 65% of its value to veCRV holders, while reserving 25% of Yield Basis tokens for the Curve ecosystem. Voting on the proposal runs from Sept. 17 to Sept. 24.

LMAX to offer 100x perps

LMAX Group is launching cash-settled perpetual futures for BTC and ETH, with max 100x leverage.

See announcement: https://www.lmax.com/press-centre/lmax-group-launches-perpetual-futures


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