released

Today, on September 10, 2025, a Paxos USDH Proposal V2 is released. It is a detailed plan aimed at scaling Hyperliquid on a global scale while also maintaining regulatory compliance. The proposal brings PayPal and Venmo integrations. This move makes USDH a potential gateway stablecoin for global DeFi.
Paxos USDH Proposal V2 Released Today
On September 10, 2025,  one of the world's most trusted and regulated stablecoin issuers announced Proposal V2 after three days of intense community consultations. This proposal is a refined version of its previous proposal, answering issues that have been raised by the Hyperliquid community.
At its root, V2 adds three important upgrades:
The integration of HYPE with PayPal and VenmoThe introduction of free USDH on/off-rampsA $20 million incentive fund to help speed the growth of ecosystems.
Beyond incentives, the proposal harnesses the special legal authorization to issue stablecoins anywhere in the world, particularly in Europe, where no other issuer could benefit from the same compliance advantage.

Source: Official website
Hyperliquid, PayPal, and Venmo's Relation with the Paxos USDH Proposal V2
Hyperliquid (HYPE Token) is the native ecosystem in which USDH will operate. The release turns Hyperliquid into a Global liquidity infrastructure. Hyperliquid becomes one of those trading centers for building a global financial infrastructure as its base currency.
PayPal, with over 400 million users and $1 trillion+ annual payment volume, will be integrating Hyperliquids' planned stablecoin into its ecosystem, including Checkout, Braintree, Hyperwallet, and Xoom. PayPal has also committed $20 million in incentives to the HYPE ecosystem and will sponsor free USDH on/off-ramps, making transactions in stablecoins seamless for global users.
Venmo, PayPal's social payment app that has a strong adoption in the U.S., will include HYPE and support its based transactions. This means millions of Venmo users can buy, hold, and use USDH directly for peer-to-peer payments and transactions with merchants.
Global Integrating Payments
Under the new proposal, there are multiple real-world use cases:
Checkout with Crypto: Customers pay for purchases, and merchants receive fiat.P2P transfers on Venmo.Remittances through Xoom in 100+ countries.Mass payouts to freelancers and contractors using Hyperwallet.
Paxos Revenue and Reward Structure
One of the big improvements on V2 is the changed revenue and reward model:
Paxos earns zero revenue until USDH’s TVL (total value locked) exceeds $1B.After $1B, Paxos’ share rises gradually, capped at 5% once TVL surpasses $5B.All fees are collected in HYPE tokens, ensuring alignment with community interests.Rewards to the AF (Asset Fund) increase from 20% at launch to 70% once TVL grows beyond $5B.
This structure ensures that the stablecoin issuer only makes money when Hyperliquid is really growing well.
Paxos Growth Plan
Paxos hopes to extend Hyperliquid beyond trading to a full-scale global liquidity and DeFi infrastructure.Through HIP-3, Paxos will also provide asset issuers with the incentive to list perpetual markets on HYPE, which will increase the demand to trade.Stablecoin issuer is planning to launch DeFi products, collateralized loans, and structured financial offerings, which will be accessible to a global audience through its regulated network.Importantly, this stablecoin issuer will incentivize ecosystem builders, liquidity providers, and enterprises to adopt a dollar-backed token, ensuring long-term adoption.

Source: Official  X

Paxos Hyperliquid Session is going to happen tomorrow for the questions and doubts arising from the community. 
Conclusion
Paxos Crypto says its success is linked to the performance of HYPE. With no revenue before hitting $1B TVL, all early value flows to the community. This ensures that the token, its builders, and users benefit first before Paxos starts to make money.
This step is a turning point for stablecoins and decentralized finance. If carried out, this may go a long way as a foundation of on-chain finance around the world.

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➡️In a recent turn of events that has captured the attention of the cryptocurrency community, an Ethereum developer who had been detained in Turkey has been released. This development comes amid growing concerns about the treatment of tech professionals in regions where regulatory frameworks are still evolving in response to the rapidly changing landscape of digital currencies. The developer, whose identity has not been disclosed, was reportedly arrested due to alleged violations related to cryptocurrency activities, stirring debates around the rights of blockchain innovators and the implications of such detentions on the broader crypto ecosystem.⬇️

➡️The detention highlighted significant challenges that developers and entrepreneurs face when navigating international laws concerning blockchain technology. Many fear this incident could set a worrying precedent, potentially stifling innovation in countries like Turkey, where the crypto market is gaining traction. Following a significant outcry from various stakeholders within the Ethereum community and beyond, advocacy efforts played a crucial role in securing the developer's release. This incident serves not only as a reminder of the risks faced by individuals in the cryptocurrency space but also underscores the importance of fostering a supportive environment for technological growth and innovation.⬇️

➡️As the crypto landscape continues to evolve, the need for clear regulatory guidelines becomes increasingly urgent. The case of the Ethereum developer in Turkey poses critical questions about the balance between law enforcement, regulatory oversight, and the imperative of supporting innovation in the burgeoning field of cryptocurrencies. The global cryptocurrency community stands in solidarity with affected developers and calls for dialogue aimed at creating frameworks that protect both the rights of individuals and the integrity of innovative technologies.⬇️

➡️With the developer now free, we can anticipate a renewed focus on collaboration within the Ethereum community and possibly more advocacy for legal protections for blockchain developers worldwide. This case emphasizes the necessity of creating environments conducive to growth and experimentation without the fear of legal repercussions that stifle creativity and technological advancement. As cryptocurrencies continue to shape the global economy, it is essential that legal systems adapt to ensure that innovation can flourish without undue hindrance.⬇️

➡️In light of this incident, it will be crucial for developers and stakeholders within the cryptocurrency realm to engage with policymakers to advocate for clear and supportive frameworks that ensure the protection of developers while simultaneously addressing regulatory concerns. The focus now shifts towards fostering an equitable ecosystem where creativity and innovation can thrive, paving the way for the ongoing evolution of blockchain technologies and their adoption across different sectors.⬇️

➡️The release of the Ethereum developer serves as a beacon of hope for many in the crypto community, reflecting the collective strength of those who seek to empower and protect innovators. As we move forward, it is essential to remain vigilant and proactive in championing a legal landscape that aligns with the values of decentralization, transparency, and collaboration that underpin the essence of cryptocurrencies like Ethereum.⬇️

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