Agora vs Paxos vs Frax: The Ultimate Stablecoin Stewardship Battle

The stablecoin wars have arrived at HyperLiquid's doorstep.

In today's episode, we dive into the USDA showdown that took over crypto Twitter this weekend. HyperLiquid opened up their native stablecoin ticker to community proposals, triggering a fierce competition between major players.

We sit down with three key contenders: Nick from Agora, Bo from Paxos Labs, and Sam from Frax. Each brings their own vision for scaling USDA beyond HyperLiquid's $5.5 billion ecosystem - from institutional partnerships to DeFi-native coalition building.

This isn't just about a ticker. It's about who becomes the steward of flows for one of crypto's most important trading platforms, with proposals offering 95-100% revenue sharing back to the community.

The Rollup