Hyper Foundation announced on June 28 it has allocated approximately $10 million in grants to support projects impacted by the sunset of its USDH stablecoin. The initiative targets builders within the Hyper ecosystem who integrated USDH and must either migrate operations to USDC or wind down affected products. According to the Foundation, recipients must complete transitions before the end of July 2026.
Eligible Builders and Grant Types
Funding is open to builders directly impacted by the stablecoin's retirement: HIP-1 spot deployers, HIP-3 perpetual deployers, HyperEVM protocols, dedicated USDH:USDC bridges, and Native Markets. Migration grants support teams moving markets and deployments from USDH to USDC; wind-down grants assist teams choosing to end USDH-dependent operations rather than adopt another asset. The Foundation stated wind-down grants will remain smaller than equivalent migration grants. In return, recipients must commit to an orderly transition process before July ends.
Grant Calculation and User Swap Routes
For HIP-1 and HIP-3, awards depend on auction deployment costs; for HyperEVM, grants hinge on the amount of USDH total value locked (TVL) affected by the sunset. For USDH holders, the Foundation advised following guidance directly from protocols undergoing migration or closure. Liquidity options: users can exchange USDH for USDC on HyperCore via the spot order book, or swap on HyperEVM through Across at a 1:1 ratio with zero fees. HyperCore USDH markets have already completed settlements, making swap mechanisms the primary conversion route.
Progress and Acknowledgments
The Foundation said it has already contacted all eligible recipients and is working directly with affected teams. It acknowledged builders that developed products and markets using USDH, and thanked users who participated in the stablecoin's development as well as Native Markets for launching the asset. According to Hyper Foundation, the migration process has progressed smoothly so far thanks to active involvement from teams and the community throughout the transition.