Hyperliquid Rolls Out $10M Grant Initiative for Builders

Hyperliquid launches a $10 million grant program to help builders migrate from USDH to USDC or complete orderly project wind-downs before July ends.

The Hyper Foundation has announced a grant program worth about $10 million to support builders affected by the USDH sunset. The funding will support projects to pay for migration expenses or to wind down projects in an orderly manner. Furthermore, all eligible recipients have been reached out to and have started the transition process, the Foundation said.

Hyper Foundation Supports USDH Migration

The new grant program is designed to help projects that previously integrated USDH into their products. The money will help lower migration costs and facilitate a seamless Hyperliquid transition, the Foundation said.

Migration grants will be awarded to teams that migrate their USDH-based markets or deployments to USDC. As a result, these projects will be able to run with little disruption following the USDH sunset. The Foundation wants to make the transition as seamless as possible, it said.

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Some projects have opted not to move to another asset, however. Instead, they plan to shut down services that depend on USDH. The Foundation will also be offering wind down grants to those teams to help them through the closure process.

Wind-down grants will be smaller than migration grants, however. The Foundation said projects that opt to move have more technical work and extra resources. Therefore, migration support will receive higher funding than shutdown assistance.

The Foundation also confirmed that all the grantees have agreed to orderly migration or wind down by the end of July. This timeline is designed to minimize disruption and ensure users are able to move to new markets safely.

Multiple Projects Qualify for Funding

The grant program includes a variety of projects in the Hyperliquid ecosystem. Affected HIP-1 spot deployers, HIP-3 perpetual deployers, HyperEVM protocols, dedicated USDH: USDC bridges, and Native Markets are eligible.

The Foundation says the amounts of the HIP-1 and HIP-3 grants are determined by the costs of deployment via auction. In the meantime, grants to HyperEVM protocols are based on the amount of USDH total value locked (TVL) impacted by the sunset.

Additionally, the Foundation is directly engaging with each eligible team during the transition process, the Foundation said. This will be expected to improve the efficiency of migrations for this approach and minimize operational risks.

The USDH sunset is a significant milestone in the Hyperliquid ecosystem. As a result, many builders are getting ready to switch to USDC or discontinue services that rely solely on USDH.

The Foundation feels that the grant program will help to facilitate a smooth transition and will not harm developers or users. It also expects the financing to ease the financial burden on projects that have had unforeseen migration expenses.

With the July deadline fast approaching, impacted teams will likely keep making updates to their platforms and informing users of the changes ahead. The grant program is therefore designed to help builders during the transition and to help maintain ecosystem stability.

The $10 million investment package underscores the Hyper Foundation’s dedication to helping developers through significant ecosystem shifts. The Foundation will help improve the long-term health of the Hyperliid network and make the migration and orderly wind-downs smoother for projects and users.

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