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According to Coinbase, USDC has become the official stablecoin of Hyperliquid, replacing Native Markets' USDH. 90% of the USDC reserve income on the Hyperliquid platform will be returned to the ecosystem. OAK Research analysis shows that there are approximately 6.27 billion USDCs in circulation in the ecosystem, expected to bring in $180 million in annual revenue for aid funds, an increase of 21% to 30% compared to the current level. In addition, USDC, as a unified quoted asset, will simplify the development process and be applicable to all HIP-3 and HIP-4 markets. Coinbase and Circl each pledged 500000 HYPEs worth $640 million.