HyENA has announced plans to close every market between Aug. 31 and Sept. 2 after processing more than $4 billion in trades for over 12,000 users. HyENA will remove markets over three days HyENA said in an Aug. 28 shutdown…
- HyENA, a platform that processed over $4 billion in trades using Ethena's USDe as margin, is shutting down its markets between August 31 and September 2.
- The closure is attributed to changes in Hyperliquid's stablecoin setup, specifically its increased alignment with USDC, which reduced opportunities for USDe-backed margin products.
- Users can redeem their HLPe holdings and earned rewards through Upshift at a 1:1 rate, with open positions set to settle automatically.
Topics: Infrastructure providers, Blockchain usage, Integration with defi, Tokenization platforms, Ethereum evm l 1 s, Rwa collateral lending
Tags: #hyena #hyperliquid #usde #stablecoin #derivatives #settlement #margin #hlpe #upshift #tokenization
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