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Native Markets Has Won Bid On Hyperliquid For USDH Stablecoin Tiker

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Native Markets has won the bid for the USDH stablecoin ticker on Hyperliquid, marking a significant milestone in the platform’s governance and ecosystem development.

This outcome came after a competitive week-long voting process involving Hyperliquid validators and staked HYPE token holders, where Native Markets secured over two-thirds of the vote approximately 70% support, outperforming established competitors like Paxos, BitGo, Frax, and Ethena which withdrew citing infrastructure misalignment.

Hyperliquid, a leading decentralized perpetuals exchange with billions in monthly volume, sought a native USDH stablecoin to reduce reliance on external assets like USDC which holds a dominant ~$6B position on the network.

Bidders proposed aggressive yield-sharing models to benefit the ecosystem, such as directing stablecoin reserve yields toward HYPE token buybacks and growth initiatives.

Native Markets, an early Hyperliquid backer co-founded by Max Fiege, submitted the first proposal and emphasized deep alignment with the platform, including 50% of yields going to HYPE buybacks via the Hyperliquid Assistance Fund and the other 50% to USDH distribution through partnerships.

USDH will be fully backed by cash and short-term US Treasuries, with off-chain reserves managed by BlackRock and Superstate for security and yield generation.

On-chain custody and compliance will be handled by Bridge (Stripe-owned), ensuring GENIUS Act and global regulatory compliance (e.g., MiCA). This setup combines institutional-grade reliability with Hyperliquid-native focus, avoiding the “white-label” approach of larger issuers.

Native Markets plans a phased rollout starting imminently: Capped mints and redemptions (e.g., $800 per transaction limit) to validate functionality, API stability, and on-chain mechanics. High-volume traders are invited to participate for feedback.

Launch of a USDH/USDC spot pair on Hyperliquid. Removal of caps for uncapped minting and redemptions, enabling broader adoption. The team will deploy the USDH Hyperliquid Improvement Proposal (HIP-1) and an Ethereum-compatible ERC-20 token contract in the coming days, positioning USDH for seamless integration across Hyperliquid’s perps, spot, staking, and HyperEVM apps.

Why This Matters for Hyperliquid and DeFi

This is Hyperliquid’s first major on-chain governance vote beyond routine listings, signaling maturing community control.

USDH could capture yield currently leaking to Circle from USDC reserves, potentially generating hundreds of millions annually for HYPE buybacks and ecosystem growth—boosting TVL, DeFi activity (e.g., lending on Hypurrfi or Kinetiq), and network effects.

Prediction markets like Polymarket gave Native Markets 99% odds pre-vote, reflecting strong community preference for speed and alignment over big-name incumbents. Critics have questioned the process for potential bias toward Native Markets but the supermajority vote underscores broad support.

USDH’s launch allows Hyperliquid to shift away from dependence on USDC, which currently dominates with ~$6B in on-chain volume. By redirecting yield from stablecoin reserves previously benefiting Circle to HYPE token buybacks and ecosystem growth, Hyperliquid can retain more economic value within its network.

This marks Hyperliquid’s first major on-chain governance vote beyond asset listings, demonstrating a maturing decentralized decision-making process. The strong support for Native Markets 70% of validator votes reinforces community alignment and sets a precedent for future governance initiatives.

Native Markets’ proposal allocates 50% of USDH reserve yields from cash and US Treasuries managed by BlackRock/Superstate to HYPE token buybacks via the Hyperliquid Assistance Fund. This could inject hundreds of millions annually into the ecosystem, potentially increasing HYPE’s value and incentivizing staking.

The other 50% of yields will support USDH distribution through partnerships (e.g., Hypurrfi lending, Kinetiq vaults), fostering new DeFi use cases like lending, borrowing, and yield farming. This could significantly boost Hyperliquid’s TVL and attract more users.

USDH’s backing by BlackRock/Superstate and custody via Bridge (Stripe-owned) ensures alignment with regulations like the GENIUS Act and MiCA. This institutional-grade setup could attract risk-averse users and institutions, enhancing Hyperliquid’s credibility in the DeFi space.

A successful USDH could inspire other DEXs or layer-1s to launch their own stablecoins, reducing reliance on centralized issuers like Circle or Tether. This trend could decentralize stablecoin markets and shift yield flows to native ecosystems.

The USDH launch positions Hyperliquid as a more self-sufficient, competitive player in DeFi, with potential to redirect significant economic value to its ecosystem. It strengthens community governance, incentivizes HYPE holders, and could catalyze new DeFi applications.

However, success hinges on flawless execution in the coming days’ test phase and sustained community trust. If USDH scales as planned, it could redefine stablecoin dynamics in DeFi and inspire similar moves across other platforms.

If successful, USDH could challenge USDC’s dominance on Hyperliquid and set a precedent for exchange-native stablecoins in DeFi. Watch for the test phase rollout this week for early signs of adoption.

Market-Implied Odds For A 25-Basis-Point Rate Cut Probability Surge to 90%

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Market-implied odds of a single 25 basis point 0.25% rate cut by the Federal Reserve at its FOMC meeting on September 17-18, 2025, have climbed to around 90% or higher as of September 16, based on Fed funds futures data and economic analyses.

This reflects cooling in the labor market (e.g., recent downward revisions to job gains and unemployment at 4.2%), inflation trending toward the Fed’s 2% target around 2.7% as of June 2025, and signals from Fed Chair Jerome Powell suggesting easing to manage downside risks.

The current federal funds target range is 4.25%-4.50%, and a cut would bring it to 4.00%-4.25%. Probabilities for other outcomes are low: less than 10% for no change, and a small but growing chance (around 5-10%) of a larger 50 basis point cut due to labor weakness, though most analysts expect a measured 25 bp move.

The CME FedWatch Tool, which derives these odds from futures pricing, shows this consensus building since mid-August, with earlier estimates at 80-85% now firming up closer to 95% in some aggregates. The decision will be announced Wednesday afternoon, followed by Powell’s press conference.

Reduced rates on loans (e.g., mortgages, auto loans, credit cards) encourage spending. Mortgage rates, already declining (7.05% for 30-year fixed as of early September 2025), could drop further, boosting housing demand.

Cheaper corporate borrowing lowers the cost of capital for investment in equipment, expansion, or hiring, stimulating business activity. With inflation at ~2.7% and trending toward the Fed’s 2% target, lower rates ease financial pressure on households, especially as real wage growth has slowed (1.3% annualized in Q2 2025).

More disposable income could drive consumption, which accounts for ~70% of U.S. GDP. Recent data shows labor market softening. A rate cut signals the Fed’s intent to prevent further deterioration, potentially encouraging firms to maintain or increase hiring.

Lower rates typically lift stock markets by reducing discount rates for future cash flows, making equities more attractive. S&P 500 and Nasdaq futures have rallied slightly 1-2% in September on rate cut expectations. Housing and other asset prices may also rise, increasing wealth effects.

A rate cut could weaken the U.S. dollar, making exports more competitive. This helps manufacturing and trade sectors, though the effect may be modest given global currency dynamics (e.g., ECB and BoJ also adjusting policies).

With inflation close to 2%, a small cut is unlikely to reignite price pressures but will provide breathing room for the Fed to balance growth and price stability. However, if cuts are too aggressive, markets may worry about inflation rebounding.

How Rate Cuts Bolster the Economy

By lowering borrowing costs, a rate cut encourages investment and consumption, directly supporting GDP growth. Current projections estimate 2025 GDP growth at 1.8-2.2%; a cut could push this toward the higher end by reducing recession risks.

The Chicago Fed’s National Financial Conditions Index has tightened slightly in 2025 around 0.15 in August, above neutral. A rate cut loosens conditions, making credit more accessible and reducing default risks for households and firms.

With labor market signals (e.g., 818,000 fewer jobs created in 2024 than initially reported) and manufacturing PMI near contraction 47.2 in August, a cut acts as a preemptive measure to avoid a downturn, especially as consumer confidence dipped to 65.9 in September.

Lower rates reduce the hurdle rate for corporate projects, potentially reversing the 2% decline in business investment seen in Q2 2025. This supports long-term productivity and job creation.

A single 25 bp cut is modest and may not significantly alter economic trajectories if global demand weakens or geopolitical risks escalations. Markets have already priced in a 90%+ chance of a cut, so the impact on asset prices may be muted unless the Fed signals a more aggressive easing cycle.

A 25 bp rate cut would bolster the economy by lowering borrowing costs, encouraging spending and investment, and supporting a softening labor market, all while keeping inflation in check. It acts as a cautious step to sustain 2% GDP growth and avoid recession, though its impact depends on follow-through policies and global conditions.

From Avatars To Assets, Why Virtual Goods Are Becoming Real Investments

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The digital world has now become an economy of its own, where, at one stage, it was just a space for entertainment and social connection. Billions are being spent each year on online games, metaverse platforms, and even virtual communities, where items are bought that only exist on a screen. From weapon designs, character outfits, to virtual land and branded accessories, these digital goods are now gaining recognition as assets with real financial value.

This shift has been fueled by the changing behavior of consumers, as they have a new understanding of digital identity. Many spend time in virtual spaces and see their online presence as an extension of themselves. The transformation from “just for fun” to something people are willing to invest in has grown drastically, both for self-expression and for profit growth.

Digital Ownership Through Blockchain

Blockchain technology is one of the most powerful technologies, turning virtual goods into real investments. Unlike the normal in-game purchases that disappear the minute a platform shuts down or accounts are lost, blockchain has backed items that are verifiable, secure, and transferable.

Blockchain allows digital assets, such as rare game skins, virtual land, or branded collectibles, to exist independently of the platform they were created on. Showing clear proof of ownership, these assets are more than just “pixels”, but become tradable items with a large financial value.

The cosmetics marketplace surged where virtual goods act more like commodities, or even collectables. Today, blockchain allows gamers to wager on various in-game cosmetic items, facilitating betting CSGO skins, for example. Not only can gamers participate in CSGO roulette, but they can also participate in a coinflip where players bet skins or coins against another player. At the end of the round, the lucky gamer walks away with both skins.

With blockchain now providing transparency and security, gamers can check a public ledger to ensure that the roulette or coinflip game was fair. This type of ownership transformed into investments of its own, combining the gap between online culture and financial markets.

Virtual Goods: A Cultural And Social Symbol

Social identity is no longer confined to physical spaces. Within gaming and online communities, virtual goods are now a powerful marker of self-expression and status. Like designer clothing or luxury cars would symbolize success in the physical world, avatars, rare skins, and in-game items have the same concept, which is shaping how an individual is seen by their peers.

Gamers are willing to invest in these virtual assets as they are improving their personal identity and social standing with other chosen communities. Owning a rare weapon or exclusive skin is not only an upgrade, but it also shows dedication, taste, or even your financial status. If you own these virtual assets, you stand out in a highly competitive environment, where your individuality can be quite difficult to express.

These cultural values of assets are then reinforced by influencers, streamers, or even esports professionals, showcasing them to large audiences. These virtual items not only elevate their personal brand, but are also a trend setter, creating inspiring goals for fans and followers. As this ripple effect drastically grows, the symbolic power of the virtual goods makes them highly sought-after commodities. In the physical world, one is unable to craft your identity; the opposite happens when owning virtual goods. These items give individuals the freedom to define who they are, or who they wish to be, online.

Virtual Goods Represent Real Opportunities for Monetization

Virtual goods started off as simple in-game perks, moving over and turning pixels into profit, more so than personal enjoyment. Gamers now look at the potential for resale or trade within thriving secondary markets. Platforms are now available that enable peer-to-peer trading, which have transformed virtual items into liquid assets, like rare skins, weapons, or collectables, selling for thousands of dollars.

Players are now viewing gaming as a potential investment, much like art collectors in the physical world; those holding digital assets are motivated by the chance to profit from scarcity and demand.

This trend has been legitimized due to the rise of blockchain-based items and NFT investments, ensuring ownership rights are secure and enabling users to sell their assets beyond the confines of one specific platform.

Monetization opportunities have also been embraced by publishers and developers, who have been designing ecosystems where limited releases or seasonal drops encourage ongoing interaction, while creating new revenue streams. Both creators and players benefit from this economy, as virtual goods gain real value. In-game marketplaces often allow players to cash out their earnings, filling in the gap between virtual and real-world money.

The monetization of virtual goods reveals why they are increasingly viewed as investments, whether through trading, direct sales, or speculation. Gamers are financially gaining from the potential of digital assets. Showing us that the virtual economy is becoming a serious counterpart to traditional markets and growing at a rapid pace.

Conclusion

The journey from avatars to assets highlights just how virtual goods have moved from playful add-ons to serious investments with real-world involvement. This transformation lies in digital ownership through blockchain, allowing players verifiable control over their virtual goods, which ultimately secures their place in the evolving digital economy.  Blockchain-backed goods are transferable, tradeable, and can hold value beyond the game itself, unlike traditional in-game purchases.

Virtual goods have also become a powerful cultural and social symbol, acting as markers of status, belonging, and identity in online spaces. Ranging from rare skins showcased by influencers to collaborative items, uniting communities, these virtual assets serve as an expression of individuality, reinforcing collective ties at the same time.

The financial potential is just as important, where these virtual goods symbolize real opportunities for monetization, where players are able to trade, resell, or even buy digital items, much like traditional assets. This trend is also being leveraged by developers, who are building marketplaces and ecosystems, creating a flow between users and platforms.

Combined, these forces show why virtual goods are becoming real investments, blending technology, culture, and commerce, proving that in this fast-paced digital-first world, what exists online can carry as much significance as what exists offline.

The Rise of Online Bingo: Exploring Its Soaring Popularity

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Bingo, once synonymous with community halls and social gatherings, has undergone a digital transformation that has revitalized its appeal for modern audiences. The migration of bingo to online platforms has turned it into a thriving industry, captivating millions of players worldwide. But what exactly is driving the surge in online bingo’s popularity? Let’s delve into the factors fueling this digital renaissance.

  1. Accessibility and Convenience

One of the key reasons behind the rise of online bingo is its unparalleled accessibility. Traditional bingo often required players to visit specific venues at scheduled times, which could be inconvenient for those with busy lifestyles. Online bingo eliminates these barriers, allowing players to enjoy their favorite game anytime, anywhere. Whether it’s during a lunch break or from the comfort of their living rooms, online platforms offer the flexibility that modern audiences crave.

Additionally, online bingo is no longer limited to desktop computers. Mobile apps and responsive websites ensure that players can access games seamlessly on smartphones and tablets, making it more convenient than ever to participate.

  1. Diverse Game Variations

The digital landscape has enabled bingo to evolve far beyond its traditional formats. Online bingo platforms offer a wide array of game variations, catering to different preferences and demographics. From classic 90-ball and 75-ball bingo to themed games like holiday bingo or pop culture-inspired rooms, there is something for everyone.

This diversity has helped attract younger audiences who may have previously overlooked bingo as a pastime. The ability to experiment with creative themes and formats ensures that online bingo remains fresh and exciting, appealing to both seasoned players and newcomers.

  1. Social Features and Community Building

Despite the shift to online platforms, bingo has retained its strong social component, which is integral to the game’s popularity. Bingo sites online incorporate chat rooms and interactive features that allow players to communicate in real time. This sense of community mirrors the camaraderie found in traditional bingo halls, fostering connections among players.

For many, online bingo becomes more than just a game—it’s a social hub where friendships are formed, achievements are celebrated, and players bond over shared experiences. The combination of gaming and social networking creates a compelling environment that keeps users engaged.

  1. Gamification and Rewards

Gamification is a trend that has revolutionized online gaming, and bingo is no exception. Many platforms integrate gamified elements such as leaderboards, achievements, challenges, and loyalty programs to enhance the overall experience. Players are motivated to complete tasks, unlock rewards, and climb the ranks, adding a layer of excitement to the game.

Rewards systems, such as free spins, bonuses, or cashback offers, keep players invested and encourage them to return to the platform. This gamification strategy not only boosts engagement but also appeals to a broader audience, including younger players who are accustomed to interactive and rewarding digital experiences.

  1. Technological Advancements

The rise of online bingo coincides with advancements in technology that have transformed the gaming experience. Cutting-edge graphics, immersive sound effects, and sleek interfaces make online bingo visually appealing and user-friendly. Features such as customizable avatars, themed rooms, and animated celebrations further enhance the gameplay.

Virtual reality (VR) and augmented reality (AR) are emerging technologies that could redefine online bingo in the future. Imagine stepping into a virtual bingo hall, interacting with players and hosts in real time, and experiencing the game in a fully immersive environment. These innovations promise to take online bingo to new heights.

  1. Inclusivity and Global Reach

Online bingo’s digital presence has made the game accessible to diverse audiences across the globe. Players from different countries, cultures, and backgrounds can come together to enjoy the game, breaking down geographical and societal barriers. Multilingual support and culturally relevant themes further ensure that platforms cater to global demographics.

Moreover, online bingo platforms often prioritize inclusivity by offering features designed for players with disabilities. Screen readers, alternative input methods, and adjustable interfaces enable individuals with accessibility needs to participate and enjoy the game.

  1. Responsible Gaming Practices

Online bingo’s popularity has been bolstered by the industry’s focus on responsible gaming. Many platforms offer tools that allow players to set limits on their spending, time, and activity. Educational resources and self-exclusion options help ensure that players can engage with the game responsibly.

This commitment to player welfare fosters trust and loyalty among users, positioning online bingo as a safe and enjoyable form of entertainment.

  1. Entertainment Value

At its core, bingo is a game that offers entertainment and excitement, and the online version amplifies these qualities. The thrill of marking off numbers, the suspense of waiting for the final call, and the satisfaction of shouting “Bingo!” (virtually, of course) are experiences that players cherish. Coupled with captivating themes and interactive features, online bingo delivers a dynamic gaming experience that keeps players coming back for more.

Conclusion

Online bingo’s popularity is a testament to its ability to adapt and thrive in the digital age. By combining accessibility, diverse offerings, social interaction, and cutting-edge technology, online bingo has evolved into a modern entertainment powerhouse. Whether you’re a lifelong fan or a curious newcomer, online bingo offers an engaging and inclusive experience that caters to a wide range of players.

As the digital landscape continues to expand, online bingo is likely to remain a beloved pastime, reinvented and reimagined for future generations. With innovation and community at its heart, the game has solidified its place as a standout in the world of online gaming.

The Reasons Why Real Money Slots Are So Popular

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Casinos rely on slot games to bring in most of their revenue, whether you are going to a glitzy resort on The Strip in Las Vegas or to a casino in your local city. In fact, casinos make around half their profits from slot machines, and there are several reasons why gamers, both online and in person, choose to play slot games.

Online slots real money are available in all online casinos like Bally Casino, and this is because these games are the most popular among beginners, but also for more experienced players.

Slot machines, in varying guises, have been around about the same amount of time as the diesel engine, the elevator, and even the humble zipper – yet they have seen way more development and growth than many of these other inventions. Slot machines started using basic mechanics (not surprising considering it was invented by a mechanic in San Francisco), and then developed using electromechanical parts, then added video, then went online – over a hundred years or so.

However, you don’t need to know the history of the slot machine to be able to play real money slots, and that is just part of their popularity.

Let’s look at exactly why slots, and particularly real money slots, are so popular.

1.    Fun

The first reason, and perhaps the most important reason, that many people start (and continue) playing slots is that they are fun. From their earliest inception just before the end of the 1800s, slot games have been a simple, enjoyable challenge that allowed players to get involved in something without having to spend ages learning a new skill.

Modern slot games are designed to be bright, colourful, and entertaining, and real money slots add the thrill of a potential payout to the fun.

2.    Easy to Learn

This is important – you don’t need any prior gaming knowledge to be able to play slot games successfully. In fact, beginners are just as likely to win as experienced players because there is little to no learning curve involved. All you need to learn is what symbols you are looking for to get into the bonus games and land some winning combinations.

3.    Easy to Play

In almost all slot games, the play is easy. Simply press a button and the reels spin – and the symbols land as they will – all based on chance through algorithms. Games can last mere moments, while others might last longer if you find yourself in a bonus round, so you don’t need to concentrate on it too much either.

4.    Range of Games

There really is a slot game for everyone. Whether you want to play a game based on your favourite movie or TV show, your music taste, your hobby, or even just a classic slot trope like Ancient Egypt, you have the choice of potentially hundreds of thousands of game options.

Then, you can increase that range by considering the different add-on mechanics too – such as Megaways which can increase your chance of winning by giving you more than 117,000 possible paylines.

5.    Convenient

Physical casinos are not necessarily the most convenient places to go if you want to play slot games, and while a night out with friends in Vegas is a bucket list item, it isn’t something you will be able to do regularly.

However, major casino companies have made it much easier to play by creating online casinos. Here you can get involved in table games like poker and blackjack, as well as some of the best slot games available.

What is even more convenient is the slew of casino smartphone apps that are available, meaning that you can play your favourite slot games wherever you can get an internet connection, which, let’s face it, is pretty much anywhere these days.