Svmuu News: Hyperliquid officials posted on X stating that the Hyper Foundation will provide approximately $10 million in grants to developers affected by the USDH exit to cover migration costs and support the ecosystem’s transition. The funds will be distributed to affected ecosystem participants, including HIP-1 spot deployment providers, HIP-3 perpetual contract deployment providers, the HyperEVM protocol, the USDH-USDC cross-chain bridge, and Native Markets.
HIP-1 and HIP-3 grants are based on an auction-style assessment of deployment costs, while HyperEVM grants are determined by the scale of impact on USDH TVL. All recipients must complete their migration or wind down their operations by the end of July. Migration grants are intended for teams that migrate USDH-related markets or deployments to USDC, while wind-down grants are intended for projects that choose to terminate USDH-related operations; the amount of these grants is lower than that of equivalent migration options.