USDH serves as an improved dollar specifically for Hyperliquid. Its reserves consist entirely of assets prepared for GENIUS, including cash, short-term US treasuries, repo agreements, and funds that invest in these instruments (such as BlackRock TTTXX), along with their tokenized counterparts (like BlackRock BUIDL or Superstate USTB). Native Markets directs 50% of the yield generated by USDH to the Hyperliquid Assistance Fund, enabling the protocol to repurchase HYPE.