USDH — 3.54% APY Staking Pool

Stablecoin

The USDH pool on Merkl (Hyperliquid L1) currently yields 3.54% APY with $4.88M in total value locked. Deposit your USDH and earn passive DeFi yield — no KYC, no lockup, self-custodied.

By APY Hub · Reviewed by Ankit Sharma · Last reviewed: May 2026

Start Earning 3.54%

Pool Statistics

APY

3.54%

Reward APY

3.54%

TVL

$4.88M

Protocol

Merkl

Chain

Hyperliquid L1

Tokens

USDH

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APY & TVL History

Historical APY and TVL data for USDH, sourced from the DeFiLlama API. Use the charts to assess whether the current yield is a recent spike or a sustained rate. Sudden APY jumps often indicate new incentive programs — verify whether they are ongoing before making deposit decisions.

About USDH

The USDH pool is a decentralized yield-generating position managed by the Merkl protocol on the Hyperliquid L1 blockchain. Depositors provide USDH liquidity and receive a share of the fees and rewards generated by pool activity — with no intermediaries, no KYC, and full on-chain transparency.

With 3.54% APY and $4.88M in total value locked, this pool represents an active liquidity opportunities in the Hyperliquid L1 DeFi ecosystem. The TVL figure reflects real user confidence — every dollar locked is a deposit from someone who chose this pool over thousands of alternatives.

How This Pool Generates Yield

Yield in USDH comes from protocol fees and on-chain activity. This fee-based yield is more sustainable than token-emission models since it directly reflects real economic activity through the pool.

Unlike centralized staking on exchanges, your deposit in USDH is secured by Merkl's open-source smart contracts on Hyperliquid L1. You can verify the exact contract addresses, see every transaction in the pool, and withdraw your position at any time without requiring anyone's permission.

Who Should Use USDH?

This pool suits investors who already hold USDH and want to put those assets to work beyond simply holding. As a stablecoin pool, it offers yield without price volatility risk on the principal — ideal for conservative DeFi participants.

How to Stake USDH in Merkl

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Follow these steps to start earning 3.54% APY in the USDH pool. The entire process takes 15–30 minutes for first-time DeFi users.

Step-by-Step Guide: Staking USDH in Merkl
Step	Action	Details & Tips
1	Buy USDH	Purchase on Bybit, BINGX, or MEXC. Choose the Hyperliquid L1 network for withdrawal to save bridging fees.
2	Set up a wallet	Install MetaMask or use a Ledger hardware wallet. Add the Hyperliquid L1 network if not auto-detected.
3	Get Hyperliquid L1 for gas	Buy a small amount of Hyperliquid L1's native token to pay transaction fees (usually $1–10 worth).
4	Connect to Merkl	Visit the official Merkl app. Bookmark the URL. Never use links from DMs or social media.
5	Approve & deposit	Approve the token spend, confirm the deposit transaction. Yield starts accruing in the next block.
6	Track & harvest	Check back regularly. Some pools require manual reward claims — harvest and reinvest to maximize APY.

Gas Costs and Break-Even

On Hyperliquid L1, expect to spend approximately $2–$30 in gas for the deposit and withdrawal transactions combined. At 3.54% APY, a $51605 deposit recovers $5 in gas within a week. Scale your position accordingly — smaller deposits are better suited to low-fee chains.

Risk Assessment — USDH

Every DeFi investment involves risk. The table below summarizes the key risk factors specific to the USDH pool. Read carefully before depositing.

USDH — Full Risk Analysis
Risk Factor	Level	Description
Impermanent Loss	✅ Low/None	Single-asset or stablecoin pool — impermanent loss risk is minimal or non-existent.
Asset Price Risk	🟢 Low	Stablecoin — principal value is stable regardless of crypto market moves.
Exposure Type	🟢 Single Asset	You're exposed to one asset — simpler risk profile, no price divergence between paired tokens.
Smart Contract	⚠️ Inherent	All DeFi protocols carry smart contract risk. Verify Merkl's audit history before depositing.
Liquidity Risk	🟢 Adequate	$4.88M TVL supports normal-size positions without significant slippage.
Protocol Risk	🟡 Verify audits	Review Merkl's documentation, audit reports, and community reputation before committing large positions.

Frequently Asked Questions

What is the current APY for USDH?

The current APY for the USDH pool on Merkl is 3.54%. This rate updates daily based on pool utilization, trading volume, and protocol incentives. Always verify the live rate on the Merkl interface before depositing, as rates can shift significantly within hours.

What is the TVL of USDH?

The total value locked (TVL) in the USDH pool is currently $4.88M. Higher TVL indicates greater user trust and deeper liquidity — larger positions can enter and exit with minimal price impact.

How do I stake in USDH?

Acquire USDH on a CEX like Bybit or BINGX, withdraw to a Hyperliquid L1-compatible wallet, visit the official Merkl interface, connect your wallet, and deposit into the USDH pool. Your yield begins accruing immediately.

Is USDH safe to use?

Merkl is a DeFi protocol. As with all DeFi, smart contract risk is inherent. Check Merkl's audit history before depositing significant funds.

How do I withdraw from USDH?

Connect your wallet to the Merkl interface, navigate to your position, and select "Withdraw" or "Remove Liquidity." Your principal plus accrued yield returns to your wallet, minus gas fees on the Hyperliquid L1 network.

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