Svmuu Hyperion DeFi, the first publicly listed company in the Hyperliquid Treasury ecosystem, is unwinding two agreements totaling approximately $28.7 million, involving about 800,000 HYPE tokens, representing roughly 40% of its total holdings. The stablecoin USDH backing these two transactions has effectively ceased operations. The larger of the two is an agreement with the Felix Foundation for 500,000 HYPE tokens, valued at $18.3 million as of March 31, which supported trading activities denominated in USDH on the HIP-3 perpetual contract market. The second is a temporary usage agreement with Native Markets for 300,000 HYPE tokens, valued at $10.4 million as of the same date, intended to provide broader support for the USDH economy.