Paxos, the former issuer of $BUSD, has now proposed launching a stablecoin, $USDH, for Hyperliquid. The difference lies in Paxos's proposed profit repurchase program, where 95% of the USDH interest will be used to repurchase HYPE and distribute it to relevant stakeholders. Times have truly changed. If BUSD had been born in today's regulatory-friendly environment, perhaps the landscape of the stablecoin war would have been significantly different.