Hyperliquid settles all USDH markets as part of token sunset
Users were urged to swap remaining USDH for USDC on HyperCore or HyperEVM and unwind any related borrow and lend positions as the exit process advances.
USDC
HYPE
Fact Check
Multiple authoritative sources confirm the claim. The official Hyperliquid Announcements channel explicitly states all USDH-denominated markets completed settlement by June 20 as part of the USDH Sunset. Native Markets, the official USDH developer, posted matching announcements describing settlement completion and directing users to swap USDH for USDC via the HyperCore order book or the Across 1:1 zero-fee HyperEVM->HyperCore bridge—precisely matching the claim's described mechanisms. The original supplied link (DegenerateNews) is a news aggregator but its content aligns fully with these primary sources.
Summary
Hyperliquid said all USDH-denominated markets on HyperCore have completed settlement as part of the USDH sunset. The platform urged users to act immediately by converting remaining USDH to USDC through the HyperCore spot order book or on HyperEVM, and also to withdraw USDH from its Borrow/Lend product and repay any borrowed USDH through purchases in the USDH/USDC pair. The move marks the wind-down of USDH trading venues on the platform and extends the exit process beyond market settlement to outstanding lending and borrowing positions.
Terms & Concepts
- USDH-denominated markets: Trading markets priced and settled in USDH.
- spot order book: Marketplace matching immediate buy and sell orders.
- Borrow/Lend: A platform feature that lets users borrow assets or lend them to earn returns.