💸 What is Hyperstable?
Hyperstable is a cutting-edge DeFi protocol built on the HyperEVM mainnet, empowering users to interact with a stablecoin ecosystem that’s both transparent and yield-generating. At its core is USH, a native stablecoin minted using wHYPE as collateral.
Users can mint USH with a minimum collateral ratio of 150% (Health Factor of 1.5), while Hyperstable maintains a debt ceiling of 5 million USH. The protocol also integrates an adaptive interest model (starting at 4.2%) and introduces vePEG—a governance mechanism that lets users lock PEG tokens to earn protocol fees and gain voting power.
🎉 Hyperstable Airdrop: PEG Rewards Through Minting & Referrals
Forget traditional retroactive airdrops—Hyperstable rewards users in real-time through an activity-based PEG token distribution model.
🚀 21% of the total PEG supply is allocated for USH minting bonuses
🎁 Another 21% is reserved for referrals
Users earn 0.0125 PEG per USH per epoch for minting, with referral rewards set at 0.0025 PEG per USH minted by referred users. Based on a 20M FDV, this translates to ~2.6% APR.
🛠️ Step-by-Step: How to Earn PEG Tokens
✅ Step 1: Get Set Up
- 🔁 Buy HYPE from Hyperliquid
- 🔄 Bridge HYPE to HyperEVM
- 🔁 Swap HYPE for wHYPE on HyperSwap
🏦 Step 2: Mint USH
- Go to Hyperstable and connect your wallet
- Deposit wHYPE as collateral
- Navigate to the “Mint” section and mint USH
- Confirm your transaction (note liquidation risk and Health Factor)
🎁 Step 3: Claim & Refer
- Go to the “Bonus” page to claim PEG emissions weekly
- Choose between 25% liquid PEG or 100% max-locked vePEG
- Create your unique referral code and invite friends
- Earn referral PEG rewards based on their USH minting activity
📖 Key Concepts You Need to Know
🪙 USH Stablecoin
A collateral-backed stablecoin minted with wHYPE, designed for price stability and ecosystem utility.
🔐 wHYPE Collateral
Wrapped HYPE token used to back USH. You must maintain a 150% collateral ratio to avoid liquidation.
🧠 PEG Governance Token
Earned through minting and referrals. Lock it to participate in governance (as vePEG) and receive protocol revenue.
🔒 vePEG Explained
Lock PEG to gain governance voting power, fee-sharing rights, and protection from dilution due to rebases.
💥 Health Factor
A numerical safety buffer (≥1.5 required). Dropping below 1 leads to liquidation of your collateral.
⚠️ Risk Management: Play It Smart
- 🧮 Monitor Health Factor: Avoid dropping below 1
- 📉 Market Volatility: wHYPE price fluctuations can affect collateral value
- 📜 Governance Risks: Protocol changes via voting may impact terms
- 🛡️ Smart Contract Risks: As with any DeFi project, bugs and exploits are a concern—DYOR
❓ Frequently Asked Questions
💀 What if my position gets liquidated?
Collateral is partially sold to repay debt + penalty. Keep an eye on your Health Factor.
💸 How do I repay my debt?
Use the “Burn” feature to repay USH, then reclaim your wHYPE via “Withdraw.”
↩️ Can I withdraw collateral partially?
Yes—just keep the Health Factor above 1.5.
📆 When are PEG rewards paid out?
Weekly, starting May 22, 2025. Claim on the “Bonus” page.
🌉 What is the aPEG migration?
aPEG holders from the Fjord sale need to bridge tokens from Arbitrum to HyperEVM. Check official docs or join the Discord for help.
🔚 Final Thoughts
Hyperstable brings a powerful new model to DeFi: a protocol that rewards stablecoin minters, referrers, and governance participants with real-time PEG emissions. Built on HyperEVM and backed by a robust tokenomic model, Hyperstable is perfect for early adopters looking to earn and govern in the next evolution of decentralized finance.
Whether you’re minting USH, locking PEG, or inviting friends—this is your chance to earn early, earn often, and shape the protocol’s future.
👉 Interested in more tokenless projects that might airdrop governance tokens in the future?
Explore our curated list of upcoming retroactive airdrops!
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