According to official sources, the Ethena Foundation has proposed to integrate Hyperliquid Ethena Liquidity with USDe. The proposal states that Hyperliquid L1 is subject to technical and legal due diligence as an eligible venue as part of its hedging stream. If approved, the integration will be implemented gradually and in a controlled manner under the guidance of the risk committee. Hyperliquid has more than 200,000 users, with daily trading volumes typically between $1 and $4B and open positions in excess of $1B, significantly larger than other on-chain permanent DEXs. The proposal calls for the Ethena Risk Committee to conduct due diligence on Hyperliquid's potential hedging site suitability.