This article explores why fixed-rate lending hasn't gained traction in decentralized finance (DeFi). It argues that while institutional borrowers need predictable rates, the flexibility of on-chain lending options often conflicts with fixed-rate demands. A proposed solution is to create a rate exchange layer that allows for better matching between borrowers and lenders.

The article discusses Native Markets' introduction of the hyperliquid US dollar-pegged token, USDH, which aims to provide liquidity and efficiency in decentralized finance (DeFi) markets. It highlights the potential impact of this new asset on trading and liquidity across different platforms.