The Farmers Market

Hyperstable

DeFi Token Live $

Over-collateralized stablecoin protocol on Hyperliquid minting USH, with PEG governance token and yield engine for borrowers and LPs

Start Farming HyperstableView on DashboardFollow on 𝕏

Farming Overview

Farming Stage Late
Chain Hyperliquid
TVL Dynamic (see chart)
Type CDP Stablecoin
Stablecoin USH ($1 peg)
Governance Token PEG
Audits 0x52, Pashov

Key Statistics

TVL Dynamic (see chart)
Stablecoin USH
Governance PEG / vePEG
Auditors 0x52, Pashov

How to Farm Hyperstable

  1. Deposit HYPE as collateral and mint USH stablecoin
  2. Stake USH/PEG LP on Curve to farm PEG emissions
  3. Lock PEG as vePEG to earn 100% of protocol revenue in USH
  4. Participate in borrowing rebate program for weekly PEG distributions
  5. Refer new users for referral bonuses

Why Farm Hyperstable?

  • Over-collateralized USH minted against wHYPE at 150% CR — leverage HYPE without selling your position
  • PEG governance token live with vePEG locking for voting power and revenue sharing from interest + liquidation fees
  • Audited by 0x52 and Pashov Audit Group — $2.53M TVL with adaptive interest rate model
  • Weekly PEG rewards plus referral program earning PEG from USH minted — multiple earning vectors
  • CDP stablecoin protocols historically receive premium valuations (MakerDAO $10B+) — first-mover on Hyperliquid
  • USH is composable across HyperEVM lending, LP, and yield protocols — multiplies farming from a single mint

About Hyperstable

Hyperstable is a crypto-backed, over-collateralized stablecoin protocol on HyperEVM. Users deposit collateral (e.g. HYPE) into non-custodial vaults to mint USH, a decentralized stablecoin pegged to $1. The protocol features a dual-token system with USH and the PEG governance token, plus a vePEG locking mechanism that grants holders 100% of protocol revenue.

Similar DeFi Protocols

Felix Protocol logo Felix Protocol Mid-Late HyperLend logo HyperLend Concluded ProjectX logo ProjectX Middle Odyssey Finance logo Odyssey Finance Early Tydro logo Tydro Middle Brix Money logo Brix Money Early Kumbaya logo Kumbaya Very Early GTE logo GTE Early

Frequently Asked Questions

What is Hyperstable and how does it work?

Hyperstable is a crypto-backed, over-collateralized stablecoin protocol on HyperEVM. Users deposit collateral (e.g. HYPE) into non-custodial vaults to mint USH, a decentralized stablecoin pegged to $1. The protocol features a dual-token system with USH and the PEG governance token, plus a vePEG locking mechanism that grants holders 100% of protocol revenue.

How do I farm the Hyperstable airdrop?

To farm the Hyperstable airdrop, you should: Deposit HYPE as collateral and mint USH stablecoin. Stake USH/PEG LP on Curve to farm PEG emissions. Lock PEG as vePEG to earn 100% of protocol revenue in USH. Participate in borrowing rebate program for weekly PEG distributions. Hyperstable is currently in the late farming stage with token live airdrop status.

What is the expected value of the Hyperstable airdrop?

The Hyperstable airdrop has an expected value rating of 1 out of 5 ($). The farming stage is late and the airdrop status is token live. Expected value ratings on The Farmers Market consider factors like protocol TVL, funding, team quality, and token economics.

Why should I farm Hyperstable?

Over-collateralized USH minted against wHYPE at 150% CR — leverage HYPE without selling your position PEG governance token live with vePEG locking for voting power and revenue sharing from interest + liquidation fees Audited by 0x52 and Pashov Audit Group — $2.53M TVL with adaptive interest rate model