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Toll or Moat: Why Some Stablecoins Keep Their Profits and Others Won’t

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In September 2025, Hyperliquid’s validators did something no exchange had done before. They put the right to issue the platform’s native… Continue reading on Medium »

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Medium Cryptocurrency Tag Jul 11, 16:34 UTC

Toll or Moat: Why Some Stablecoins Keep Their Profits and Others Won’t

In September 2025, Hyperliquid’s validators did something no exchange had done before. They put the right to issue the platform’s native…