ChainThink report, on June 28, according to an official announcement, the Hyper Foundation will provide approximately $10 million in grants to help developers affected by the gradual exit of the USDH stablecoin offset migration costs.

The grants are divided into two categories: migration grants for teams that have integrated USDH and are relocating their corresponding markets or deployments to USDC, and phased shutdown grants for teams opting to terminate USDH-related operations, with the latter receiving a lower amount than equivalent migration grants.

Specifically, HIP-1 and HIP-3 grants are calculated based on auction-derived deployment costs, while HyperEVM grants are determined by the amount of USDH locked that is impacted. All grant recipients must commit to completing orderly migration or phased shutdown by the end of July.

Users may exchange USDH for USDC on the HyperCore spot order book, or freely swap USDH for USDC at a 1:1 ratio via the Across protocol on HyperEVM.