Isolated Lending Market for HAY on Venus
Summary
Helio Protocol proposes to get the decentralized stablecoin HAY listed on the Isolated Lending Market of Venus. Here we elaborate on why including HAY could add value to Venus protocol.
Background
About Helio Protocol
Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on HAY–a new BNB-backed over-collateralized “destablecoin” –with “de” standing for “decentralized”. The protocol aims to position HAY as the leading decentralized destablecoin protocol in the BNB Chain ecosystem by leveraging Proof-of-Stake (PoS) rewards, liquid staking, and yield-bearing assets. Helio Protocol will operate as a DAO, where the community will govern the protocol’s treasury, revenue pool, and future direction.
In less than 9 months, Helio Protocol has gained 250K+ community members. Our partners include leading projects on the BNB chain, such as Pancake Swap, Wombat Exchange, Uniswap, Trust Wallet, Coin 98, Thena, Ellipsis Finance, etc.
Our contracts have been successfully audited with CertiK, Peckshield, Slowmist, and Veridise. We also have a Bug Bounty Program of up to $500k budget on Immunefi.
About HAY
HAY is a native BEP-20 token, a destablecoin that is over-collateralized with liquid-staked assets. Where 1 HAY is always redeemable at $1 of cryptocurrency and over-collateralized by BNB and BUSD. Users can mint and borrow HAY by providing BNB or BUSD as collateral, which can then be used to stake for yield, liquidity mining, and as a means to transfer value. HAY has become one of the top decentralized stablecoins on the BNB chain in terms of market cap and TVL.
Benefits
Communities of Venus and Helio Protocol can benefit from HAY listing on the Isolated Lending Market of Venus because they can provide their HAY tokens on the market and open them for other users to borrow. This way, users can earn with a decent APY instead of being passive holders.
Borrowers will be able to gain decent profit by exploring various options of HAY single staking and LP staking through the Helio Web App and major DEXes of the BNB chain with up to 60% APR, such as:
- HAY/BUSD farms and HAY syrup pool on Pancake Swap
- HAY/BUSD side pool on Wombat Exchange
- HAY/BUSD, HAY/ankrBNB, HAY/BNB LP on Thena
In addition, since HAY is a stable asset that aims to achieve the peg of US $1, lenders and borrowers will have less exposure to potential price fluctuation.
Incentives
Helio Protocol will provide HAY token incentives to increase rewards and bring more users to the Venus Platform.
Seed liquidity: $25,000 in HAY
Incentive rewards for users: $5,000 in HAY ($3,000 in HAY for the first 4 weeks and $2,000 for the next 4 weeks.)
Specifications
Token Address: 0x0782b6d8c4551B9760e74c0545a9bCD90bdc41E5
TVL: ~$68M Liquidity
Market cap: $41M
Additional Information
Documentation: Helio Docs
Website: https://helio.money/
I don’t represent the community but I am one of them and I want as many projects as we could get listed on our isolated lending platform 