PANews June 28 news, Hyper Foundation announced it will provide approximately $10 million in grants to developers affected by the USDH wind-down to cover migration costs and support an orderly ecosystem transition. This round of funding will be allocated to affected HIP-1 spot deployment parties, HIP-3 perpetual contract deployment parties, HyperEVM protocols, the USDH:USDC cross-chain bridge, Native Markets, and other ecosystem participants.

Among them, migration grants are aimed at teams migrating USDH-related markets or deployments to USDC; exit grants are aimed at projects choosing to terminate USDH-related operations, with amounts lower than equivalent migration plans to encourage a smooth ecosystem wind-down. HIP-1 and HIP-3 grants are calculated based on auction deployment costs, while HyperEVM grants are assessed based on the scale of USDH TVL affected. All recipients must complete migration or business wind-down by the end of July.

On the user side, USDH holders need to follow the guidance of each protocol and can convert to USDC through the spot market or HyperEVM path. The official has provided no-fee or spot trading channels to support asset conversion.

The Hyper Foundation also stated that the USDH migration is progressing smoothly thanks to the active cooperation of developers and the community, and expressed gratitude to the relevant builders.