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

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Farming Overview

Farming Stage Mid-Early
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.

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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 mid-early 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 2 out of 5 ($$). The farming stage is mid-early 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