[Hyper Foundation Announces $10 Million Grant Due to USDH Stablecoin Gradual Phase-Out] BlockBeats News, June 28, Hyper Foundation announced that it will provide approximately $10 million in grants to help developers affected by the gradual phase-out of USDH offset migration costs. The grants are divided into two categories: migration grants for teams that have integrated USDH and are migrating related markets or deployments to USDC; and phase-out grants for teams choosing to terminate USDH-related operations rather than migrate, with amounts lower than equivalent migration grants. HIP-1 and HIP-3 grants are calculated based on auction deployment costs, while HyperEVM grants are determined by the affected USDH locked volume. All grant recipients must commit to completing orderly migration or phase-out by the end of July. Users can directly exchange USDH for USDC on the HyperCore spot order book or use the Across protocol on HyperEVM to exchange at a 1:1 ratio free of charge. Hyper Foundation expresses its gratitude to all developers who built real markets based on USDH, users who supported USDH growth, and Native Markets for their pioneering work in launching protocol-native stablecoins. Thanks to the active cooperation of the team and community, the migration process is currently smooth and orderly.
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