Can someone explain why didn’t this launch on Ethereum first?

A mere 12 years after PayPal acquired Venmo. Synergy!

(1/3) FTX today announced it is set to distribute approximately $1.6 billion in its Third Distribution to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on September 30, 2025.

We had a rollout plan. The market had other ideas. Sometimes opportunities show up when least expected, but we pulled out the stops, executed fast, and showed what we can bring to the table. But we realized that we didn’t get the chance to introduce ourselves. Paxos Labs is the enterprise-grade infrastructure platform powering the next era of onchain finance. Financial platforms across the world are constrained by legacy financial rails systems that are costly, slow, and limited in scope. As these platforms look to upgrade their underlying infrastructure, they can turn to Paxos Labs to guide them in their blockchain journey, from stablecoins to full onchain market access. Backed by @Paxos's $120B+ track record in tokenization and regulatory expertise and trusted by enterprises like PayPal, Venmo, Mastercard, Nubank, Interactive Brokers, and more we extend proven infrastructure into a full product suite that unlocks utility, yield, and liquidity for platforms and their users. With Paxos Labs, enterprises can take the step beyond stablecoin issuance and acceptance to deliver full onchain financial experiences for their users from branded stablecoin creation, to servicing yield on stablecoins, integrating compliant money markets, and more. Our mission for enterprises is to enable them to own more of their economics, facilitate growth through innovation, and future-proof their business by delivering safe and utility-driven onchain experiences to their end-users. Building the rails you can rely on, and the products that make them matter. Paxos Labs is where the future of onchain finance is built, customized, and scaled. Start your onchain journey with Paxos Labs.

We had a rollout plan. The market had other ideas. Sometimes opportunities show up when least expected, but we pulled out the stops, executed fast, and showed what we can bring to the table. But we realized that we didn’t get the chance to introduce ourselves. Paxos Labs is the enterprise-grade infrastructure platform powering the next era of onchain finance. Financial platforms across the world are constrained by legacy financial rails systems that are costly, slow, and limited in scope. As these platforms look to upgrade their underlying infrastructure, they can turn to Paxos Labs to guide them in their blockchain journey, from stablecoins to full onchain market access. Backed by @Paxos's $120B+ track record in tokenization and regulatory expertise and trusted by enterprises like PayPal, Venmo, Mastercard, Nubank, Interactive Brokers, and more we extend proven infrastructure into a full product suite that unlocks utility, yield, and liquidity for platforms and their users. With Paxos Labs, enterprises can take the step beyond stablecoin issuance and acceptance to deliver full onchain financial experiences for their users from branded stablecoin creation, to servicing yield on stablecoins, integrating compliant money markets, and more. Our mission for enterprises is to enable them to own more of their economics, facilitate growth through innovation, and future-proof their business by delivering safe and utility-driven onchain experiences to their end-users. Building the rails you can rely on, and the products that make them matter. Paxos Labs is where the future of onchain finance is built, customized, and scaled. Start your onchain journey with Paxos Labs.

This is a call to all hyperliquid community : Native markets is going to win the USDH ticker and it's EXTREMELY bearish for @HyperliquidX. (it's not too late) Here is why 👇 1. ONLY 50% FOR THE ASSISTANCE FUND AND 50% FOR MARKETING (while ethena and paxos proposed 95% for hyperliquid. 2. “Stripe/Bridge” dependency & perceived conflicts of interest : Native proposes to issue USDH via Bridge (infra owned by Stripe), while Stripe is pushing Tempo, its own blockchain, and controls Privy (wallet infra). Aligning the network’s “money” with a potential competitor undermines the chain’s sovereignty (and makes censorship/blacklisting easier). 3. Paxos and Ethena had put forward a very big roadmap to make USDH a ​​huge stablecoin compared to Native Market who doesn't seem to realy care about HL's future 4. New team, 0 seriousness on their side, 1600 words for their proposition for 6600 for ethena (LMAO) 5. “Home team advantage” vs. “track record” Native claims being “Hyperliquid-native”, but Paxos brings compliance and industrial history, and Ethena has crypto-native traction. Early support from large validators for Native reinforced the perception of an internal bias. 6 “vendor lock-in” and censorship Handing issuance and orchestration to a single provider (Bridge/Stripe) is worrying : if policy shifts (US regulation, Stripe/Tempo business priorities), Hyperliquid could face address freezes, blacklists, or integration friction. 7. Voting process felt “tailor-made” and too rushed Announcement Sept 5, proposals due Sept 10, intents Sept 11, final vote Sept 14 (a very tight timeline). Native filed a proposal under 90 minutes after the announcement, prompting suspicions of informal advance notice; other teams said they lacked time. ANYWAY, even though they claim being "natives", nothing's interesting in their proposition : What was supposed to be a show of strength for Hyperliquid, seeing all these giants fight to issue its stablecoin, has become a sign of weakness. A weakness tied to fear of governance, potential insiders, and a lack of understanding of the stakes. Excessive “alignment” has already killed ecosystems, like that of the Cosmos Hub. We don't want hyperliquid to fail like others did. Now here is what you can do 👇: Right now @Paxos is standing at second place far from @ethena_labs so it's the only one that can take the place of Native markets, so i suggest we all place our Hype to stake to paxos voters which are : @0xHyperBeat @B__Harvest - Purrposeful x @HyBridgeHL x @PiPonHL @validaoxyz @ChorusOne This is not too late, if validators see that they are loosing stakers, they might change their mind too. If you are staking to one of those validators, remove your stake, it takes one click, shame on them : - @nansen_a & @hypurr_co - @HypurrScan - Hyperstake - @hypurrcorea - @flowdesk_co - @rekt_gang - @IMCTrading - @PierTwo_com - @infinitefieldx - Alphasticks DO NOT KEEP YOUR STAKE ON @kinetiq_xyz FOR NOW, THEY ARE VOTING FOR THE WINNER AND THE REST IS ON HYPERLIQUID FOUNDATION, WHICH WON'T VOTE, THIS REPRESENT ALMOST 50% OF THE STAKED SUPPLY NOT VOTING. Don't let the mafia win, not again. Hyperliquid. PLEASE REPOST THIS TO MAKE PEOPLE HEARD. Credits to @JoestarCrypto from which I took inspiration for many parts of my post.