Hyper Foundation launches $10M USDH migration grants

• Hyper Foundation has committed approximately US$10 million in grants to support projects affected by the retirement of USDH.
• Eligible builders must complete migration to USDC or wind down USDH-related services before the end of July.
• The programme aims to minimise ecosystem disruption while helping users transition from USDH to USDC.

Hyper Foundation has launched a grant programme worth approximately US$10 million to help ecosystem projects migrate away from USDH or complete orderly shutdowns before the stablecoin is retired at the end of July.

The foundation said eligible recipients include HIP-1 spot deployers, HIP-3 perpetual deployers, HyperEVM protocols, USDH:USDC bridge operators and Native Markets, with grant funding intended to reduce migration costs and maintain ecosystem continuity.

Migration grants will support projects replacing USDH with USDC, while smaller wind-down grants will assist teams closing USDH-related operations, with all recipients committing to complete their transitions before the end of July.

Grant allocations will be calculated differently across the ecosystem, with HIP-1 and HIP-3 participants receiving funding based on auction deployment costs and HyperEVM protocols assessed according to the amount of USDH total value locked affected by the transition.

The foundation also outlined migration options for users, confirming that USDH holders can exchange their tokens for USDC through the HyperCore spot order book or swap at a one-to-one ratio through Across on HyperEVM without transaction fees.

Hyper Foundation said users should follow instructions provided by the protocols where their assets are deployed to ensure a smooth migration throughout the transition period.

The foundation said the grant programme and coordinated migration process are designed to minimise disruption for developers and users while supporting the ecosystem's transition from USDH to USDC.