Tether invests in Hyperliquid frontend Dreamcash, offering perps markets for TSLA, gold and more using USDT0 collateral

Stablecoin issuer Tether is investing in Dreamcash, the mobile frontend for the Hyperliquid decentralized exchange (DEX). This investment supports the launch of the first real-world asset (RWA) perpetual markets on Hyperliquid collateralized by USDT0, the omnichain version of USDT utilizing LayerZero technology. These new markets, launched in collaboration with Selini Capital and Dreamcash, include perpetuals for the S&P 500 index, commodities like gold and silver, and major stocks such as Tesla and Nvidia. The move aims to allow USDT holders to access Hyperliquid markets directly, as the DEX traditionally uses USDC. Tether's investment will fund a $200,000 weekly incentive program for Dreamcash's CASH markets, rewarding traders based on their USDT trading volume.

(Source：The Block)