Hyperion DeFi Unwinds Two Agreements Worth About $28.7 Million Involving 800,000 HYPE

Hyperliquid treasury firm Hyperion DeFi is unwinding two agreements totaling about $28.7 million, involving about 800,000 HYPE, or roughly 40% of its total holdings. According to Odaily, the stablecoin USDH that supported the two transactions has effectively ceased operations. The larger agreement was signed with Felix Foundation for 500,000 HYPE and was valued at $18.3 million as of March 31. The agreement supported USDH-denominated trading activity in the HIP-3 perpetual contract market. The second agreement was a temporary usage arrangement with Native Markets for 300,000 HYPE, valued at $10.4 million on the same date, and was intended to support the broader USDH economy.