Olivia
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Dan
@db_barsoum
Italy
Joined April 2020
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🚨 BIG BREAKING 🚨
🔴 IRAN REJECTS NEGOTIATIONS 🔴
"Sending a US delegation to Pakistan for negotiations is pointless at this stage. For the past two months, President Trump has spread falsehoods daily. You cannot negotiate with a partner who abandons truth. Let the record be clear, Iran has never agreed to surrender its Uranium. China has never agreed to stop defense cooperation with us. The Strait of Hormuz was never opened by us under pressure. While the US President and his son profit daily, ordinary Americans and citizens across the world bear the cost of these lies and wars. The world must see what this is really about. This is not a fight over Iran’s uranium. This is a fight to undermine the sustainability and self-sufficiency of China, Russia, and India. Until there is honesty, there can be no diplomacy."
- Abbas Araghchi, Minister of Foreign Affairs of Iran
There’s a story hidden within this picture: MultiversX introduced Hatom. Hatom is launching USH. And USH? It’s set to bring unprecedented stability to EGLD.
Mark the date: March 03, 2025. The game is changing, and it's just the beginning.
In the same way markets realized throwing millions at AI couldn’t beat @deepseek_ai’s open-source revolution,
they’ll soon discover next-gen blockchains are more than hype.
@MultiversX’s 0.6s finality changes the game—
why spend millions on slower L1s when we can replicate success at a fraction of the cost?
Why do I think that a part of #DeFi and #blockchain is ready for mass adoption?
1. Exchanging tokens on DeFi is much cheaper than banking counterparts. You can exchange for 0.3% of fee or even less for stables, while in general you pay >2% in banks.
2. Cross-border transfers, or simply any transfer. It is instant on blockchain. Yes, they are new fintechs which offer the same experience, but here I compare with traditional banks which most of the population uses. (those fintech companies tend to be not profitable)
3. Payments are simply cheaper on scalable blockchains. When you use your card you pay 1-3% in fees to multiple parties, meaning everything is more expensive with 1-3% at least. With traditional payments there are a lot of frauds, reverted payments, not enough funds, millions like that every day. In industries with higher risks the payment providers takes even >10% as fee for processing.
4. If you want deposit to a bank you get only a few % as yield. Literally <1% in Romania for Euro/USD deposits. You need to buy into long term deposits (>1 year) to get 5%, while the FIAT is having an even higher inflation. Banks are taking most of the profits from your money. Now meet DeFi, where there are no intermediaries and the fees from borrowing are distributed among the liquidity providers, or the fees of exchange is distributed among LPs. This means you can earn more for your fund in DeFi than in traditional ecosystems.
5. Inflation of FIAT. #BTC has ATH against a ton of currencies. Economic stability of well though tokens is simply higher than of FIAT.
Why are the masses not using #DeFi yet?
Bitcoin and Ethereum does not scale. The UX is just awful, you need to finish a security course before joining and watch a few tutorials of how to use, what to do and what not to do. And even after that you might loose a tons of money. Onboarding is hard, why buying GasTokens, where do I write down my seedphrase and so forth.
And here it comes #MultiversX and #xPortal financial superApp through which mass adoption into DeFi is possible. No onboarding issues. No security issues. No wallet draining. Work is still in progress with multiple improvements, but this approach can actually bring in new people to the ecosystem.
#itistimetobuild
We are delighted to announce that the HTM Booster and Accumulator are set to officially launch on Mainnet on November 27th. To keep our community engaged and well-informed, we have introduced a countdown banner within the Lending Protocol.
You can track the countdown by visiting:
https://t.co/VqnF1LtocO
These modules represent a significant milestone in our ecosystem, embodying our commitment to fostering fairness and equilibrium among liquidity providers, users, and investors. They have been meticulously crafted to consistently reward $HTM adopters with substantial benefits.
As part of our Go-To-Market strategy, we have allocated an additional $500K $USDC for Booster Rewards and Accumulator, complementing the initial $3M $USDC Incentivization Program.
This strategic move aims to maximize user engagement with the Booster and Accumulator. The reward distribution plan over the next 8 months is thoughtfully designed to ensure a steady and consistent flow, thereby enhancing the appeal and effectiveness of both modules.
To ensure a smooth introduction of these modules, we have implemented a carefully structured bootstrapping phase. During this phase:
Rewards will be progressively channeled into the booster: We are introducing a new batch of rewards, which is currently reflected in the high yields visible on the Mainnet App. It should be noted that the yields currently being displayed on the Mainnet will be accessible after the countdown and upon launch.
Following the launch, and as $HTM is staked, we anticipate the APYs to stabilize. However, even with all lending positions fully boosted, the total APYs will remain impressively high. This strategic approach guarantees that, even six months from now, the rewards distributed will still surpass those of the past two months. This phase will also ensure a seamless transition and widespread adoption of the booster.
In the initial months following our Mainnet launch, we distributed the following amounts in additional rewards, not including the Supply APY:
Month 1: $390,000 in Additional Rewards.
Month 2: $300,000 in Additional Rewards.
Month 3: $230,000 in Additional Rewards.
Month 4: $230,000 in Additional Rewards.
Here's a breakdown of the reward structure for the next 8 months:
P.S: To provide a clearer explanation, Additional Rewards are earned by simply adding funds as collateral, as is currently done. To receive the full Booster Rewards, you must have 10% of your collateral value in $HTM and stake it in the booster; if you have less, the rewards will be proportionally reduced.
The Accumulator allows users to claim rewards in $HTM tokens with a 5% bonus. This strategy aims to boost the token's volume and buying pressure. Unlike liquidity mining, this Delta Neutral approach stabilizes the market by adding 5% to $USDC rewards, converting them to $HTM, and ensuring that even if users sell these tokens, it won't harm the token's market value.
Month 5 (at Booster Launch):
Total rewards: $451,500
• Breakdown:
• $230,000 in Additional Rewards
• $200,000 in Booster Rewards
• $21,500 in Accumulator Rewards
Note: This marks the highest incentivization month since our inception.
Month 6:
Total rewards: $346,600
• Breakdown:
• $184,000 in Additional Rewards
• $146,000 in Booster Rewards
• $16,500 in Accumulator Rewards
Note: 20% of rewards channeled from Additional Rewards to the Booster.
Month 7:
Total rewards: $294,000
• Breakdown:
• $138,000 in Additional Rewards
• $142,000 in Booster Rewards
• $14,000 in Accumulator Rewards
Note: An additional 20% has been added, bringing the total to 40% of rewards channeled from Additional Rewards to the Booster.
Month 8:
Total rewards: $262,500
• Breakdown:
• $92,000 in Additional Rewards
• $158,000 in Booster Rewards
• $12,500 in Accumulator Rewards
Note: An additional 20% has been added, bringing the total to 60% of rewards channeled from Additional Rewards to the Booster.
Month 9:
Total rewards: $255,150
• Breakdown:
• $46,000 in Additional Rewards
• $197,000 in Booster Rewards
• $12,150 in Accumulator Rewards
Note: An additional 20% has been added, bringing the total to 80% of rewards channeled from Additional Rewards to the Booster.
Month 10:
Total rewards: $247,800
• Breakdown:
• $246,000 in Booster Rewards
• $11,800 in Accumulator Rewards
Note: An additional 20% has been added, bringing the total to 100% of rewards channeled from Additional Rewards to the Booster, marking the completion of the transition.
Months 11 & 12:
Total rewards: $241,500
• Breakdown:
• $230,000 in Booster Rewards
• $11,500 in Accumulator Rewards
Rewards Transition:
By the tenth month, which is six months from now, booster rewards will completely replace the additional rewards. This change will benefit only those staking $HTM in the HTM booster. For those who do not stake $HTM, earnings will be limited to the Base APY, which is generated from lending and borrowing activities.
Incentivization Continuation:
By the twelfth month or eight months from now, the current incentivization structure will conclude. However, lending activities will still receive incentives. The key change will be in the source of these incentives. Instead of relying on treasury or liquidity mining, which are common but not always sustainable methods in this space, we will shift to funding these incentives from revenue.
Achieving Sustainability and Balance between Liquidity Providers, Users and Investors:
• Current Financial State: Currently, revenue from the lending protocol and liquid staking accounts for 60% to 70% of the total monthly incentives. This percentage is subject to change based on the volume of liquidations, borrowing activity, and price fluctuations.
• Role of USH in Revenue: The introduction of $USH is anticipated to be a major revenue contributor to the Ecosystem. Aiming to fully support the lending protocol's incentives, the plan is to allocate 10% to 20% of $USH's revenue for this purpose. This strategy is designed to eliminate the need for funding from the treasury or liquidity mining programs while maintaining comparable incentive levels.
• Adapting to Market Changes: The Ecosystem is structured to be responsive to changes in TVL and asset price variations. Notably, 90% of the revenue from all our protocols is generated in $EGLD. This setup ensures that revenue increases in line with TVL growth, aiding in the maintenance of a consistent stable APY.
For example, if the $EGLD money market has a Net APY of 5%, it will remain consistent, regardless of whether the TVL is $150 million or $5 billion. As, for money markets like $USDC, $USDT, and others, a rise in rewards for the volatile assets ( $EGLD ) will result in improved APYs, thereby enhancing their liquidity.
• Future Plans for Incentives: Upon achieving a sustainable state, we plan to transition from distributing incentives in $USDC to $EGLD, which is more volatile. This shift is expected to stabilize the APYs offered through additional rewards, even amidst diverse asset price changes.
For instance, an increase in $EGLD's price would correspondingly raise the value of the incentives, thus maintaining stable APYs. Additionally, users will have the option to claim these rewards in $HTM for a 5% bonus, further enhancing incentive value.
The strategy we have implemented is designed to maximize our potential for success. Consider a scenario in which the market experiences a positive trend, with $EGLD achieving new highs or surpassing previous records.
With the Booster, the TVL we achieve will always be tied to the $HTM token, as users will be required to stake it in the Booster to receive the rewards. Through the Accumulator, we expect to generate noteworthy trading volume for the $HTM token, while applying significant buying pressure, as the rewards will be converted to $HTM to receive that additional +5%. The combination of a substantial TVL and increased token trading volume opens up various possibilities for the future, including Tier-1 CEX listings.
By overseeing all these high-revenue-generating protocols, we can strategically allocate resources from one to another. This flexibility is crucial because, while one protocol may generate more revenue, another might be pivotal in providing the core utility for the initial product, highlighting the intricate balance and interdependence within our ecosystem. This is why our ecosystem is unique.
The current iteration of the Booster is not its final one. Upcoming upgrades are already scheduled to allow users to deposit even LP tokens and farmed LP tokens, obtained by providing liquidity for $HTM pairs on Dexes, into the Booster, counting only the $HTM weight at all times. This model aims to deepen market liquidity and offer three benefits: enhanced yield in the lending protocol and incentives for liquidity provision, along with governance power.
Furthermore, the HTM Booster will be integrated into our validators' scoring system, introducing a staking-based framework that encourages competition among them to receive more delegations. This won't be limited to staking only 10%, as with lending incentives.
That being said, the majority of the score will remain based on APR and Liquidity, ensuring that $sEGLD will consistently have an optimal APY. $HTM will also influence upcoming products, including $USH and the automated leveraged liquid staking strategy $xEGLD, improving users' yields and providing them with consistent advantages.
If you truly understand the advantages we explain and grasp our vision, you'll realize that our approach has a strong chance of success where others have fallen short. Early believers in our project will be rewarded. If you think of $EGLD as the chain's Bitcoin, $HTM will certainly be its Ethereum, but at its inception.
Just as Ethereum has many successful ERC-20 tokens, we need strong ESDTs like $HTM or $ASH to thrive for a successful network. With our plan, we are addressing numerous issues that others on different networks couldn't tackle, all while maintaining strong incentives and aligning users' and investors' interests with our protocol.
The most challenging part is already behind us, and now it's a matter of time and consistent effort for the entire system to work together smoothly. Staking in the Booster will yield benefits for many years to come and this is just the beginning of something truly remarkable.
It seems that @HatomProtocol has gained some insane bullish momentum, and the hype around the project was serious yesterday in the #MultiversX community and I expect it to continue.
The token is up more than 100% in the last 14 days, which showcases the strength of the modules soon to be released.
Let's discuss a bit about all the things that are happening now and also delve into the Booster and Accumulator and clarify some things.
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It is clear to me that this space doesn't only rely on luck. If you work hard and design your products as well as possible, you can have an amazing outcome.
The sentiment has shifted very nicely compared to a few months ago, and the community has slowly started to understand what is happening and what's about to come.
What actually created this momentum?
@HatomProtocol announced back in the summer the introduction of two new features, the Booster and Accumulator, both crafted to increase the utility of the protocol token $HTM.
The Booster will require users to deposit a 10% equivalent of the collateral value in $HTM tokens, meaning that if you have $1000 worth of assets activated as collateral, you will need to deposit $100 worth of $HTM in the Booster to increase your yield.
On the other hand, the Accumulator will give users a chance to claim their rewards in either $USDC or $HTM, and by claiming in $HTM, they will receive an extra 5% in rewards.
Both features were covered by @Davyegld in a great thread, as always, and I really recommend you check it out here:
https://t.co/TYI0BPdBxl
I would also love to add a few points to his thread:
1️⃣. The amount of $HTM that you can use in the booster is not capped at 10%; you can deposit as much as you want to ensure that market volatility doesn't bring you under the optimal boost.
For example, on the $574.83 position below, I have staked $114.96, which is actually 20% of my position. As you can see, the Booster arrow went all the way to 200%.
This will act as a shield against volatility and will ensure that even if the value of your collateral doubles, you will still receive the maximum yield from the Booster.
However, it's important to mention that you won't earn anything extra on the $HTM that is in excess of the 10% required.
2️⃣. The $HTM that you are using for the Booster can't be used to supply in the lending protocol once the $HTM token is integrated. These two features are separate, and you will require more $HTM tokens if you want to use both.
For example, if you have $1000 worth of $HTM supplied in the lending protocol and activated as collateral, you can no longer use that $HTM to boost the same position. To boost it, you will need to deposit an additional $100 worth of $HTM in the Booster.
Tip: You can take a loan against that amount to get the funds needed for the boost. 😉
This works the other way around too. Once you have supplied the $HTM in the Booster module, you can't use it in the lending protocol, and there will also be a 2-day cooldown period when choosing to withdraw from the Booster.
3️⃣. When choosing to claim the rewards in $HTM through the Accumulator, make sure you set your slippage beforehand by pressing the button just beside the Rewards Balance, as indicated by the red arrow in the picture below. This will enhance the trading experience and ensure the best outcome.
On Devnet, @xExchangeApp is used to swap $USDC for $HTM, but on Mainnet, the @ash_swap aggregator will be used to ensure that the best exchange rate is achieved.
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Overall, I'm quite bullish on these two new features as they enhance the utility of the $HTM token and align the vision of the protocol with that of investors.
Personally, I'm not a big fan of mercenary capital — people who farm as much as they can from a protocol and then move on with no interest in supporting the protocol or deploying any liquidity.
To achieve a common interest between the protocol and its users, I think it's a brilliant choice to offer additional rewards to those serious about investing in the project and holding the token for the long term.
There must be a fine balance achieved, as the protocol won't distribute rewards out of thin air, diluting its holders. Over time, all the incentives will come from the protocol's revenue. It's important to ensure that only the users who understand the vision and have faith receive the biggest share of the pie.
With that said, as per @HatomProtocol Protocol Update #6, we are expecting that the rewards offered in $USDC for simply activating your assets as collateral will be gradually channeled into the Booster. Only users with $HTM tokens in the Booster will be able to increase their overall yield -- a very good move in my opinion.
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The $HTM token has been on fire for the last two weeks, literally on the verge of making a new all-time high (ATH) and entering price discovery.
This is happening under the conditions that none of the modules have entered the mainnet, but it's a clear sign that some players are preparing their strategy, while some speculators are also jumping into the game.
I don't see $HTM making any significant pullback soon, as I know that a massive amount of $HTM needs to be purchased to achieve the full boost. This is not financial advice (NFA), of course, but I think this is only the beginning of the $HTM token.
As long as the sentiment stays bullish and $EGLD performs well, I see no reason why $HTM won't continue its rally, especially given that there doesn't seem to be any massive selling pressure. This is due to the fact that investors will actually need the $HTM token to use it in the Booster.
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According to @DefiLlama, #MultiversX has managed to attract over $177 million in total value locked (TVL), while @HatomProtocol has attracted $120 million.
With the introduction of $USH later on, I really see #MultiversX dominating the space and entering the top 10 blockchains by TVL in the crypto space.
It will be an insane journey, as this is just a warm-up. Don't forget that $EGLD is only at $34 per token, and @HatomProtocol's TVL is highly correlated with the price of $EGLD, meaning that the TVL will increase drastically with an increase in the price of $EGLD.
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The last two weeks have been very interesting, that's for sure. It takes patience and determination to achieve great results, but @HatomProtocol is on the right path.
The following products will clearly change everything in this ecosystem and we will see a whole new level of interoperability between the protocols and amazing opportunities to earn yield.
You're in for a good ride, so stay tuned! 🙌
🚨 Protocol's Update #6:
Since our Mainnet launch a few months ago, it's been a whirlwind of activity.
The milestones reached, continuous protocol improvements, and your unwavering support have been pivotal. We're excited to share our latest developments, shaped by your feedback and rigorous testing, along with our vision for the future:
HTM Booster and Accumulator
Introducing the HTM Booster and Accumulator, representing the outcome of our innovation, and strengthening the pivotal role of the $HTM token within our ecosystem to ensure long-term sustainability.
The HTM Booster empowers users to enhance their yields on the collateral they have activated within the lending protocol. To access this feature, users simply deposit $HTM tokens into the Booster module, equivalent to 10% of their collateral's total value.
Here's a simplified example:
Consider a user with $10k collateral in the lending protocol, earning a Base APY of 2% plus 3% in Rewards. Meanwhile, the current Booster APY stands at 7%. To maximize their yield at 12%, the user needs to deposit $1,000 in $HTM tokens into the Booster module. Opting to deposit only $500 would result in half of the Booster's potential, leading to a proportionate reduction in additional yield.
The Accumulator, found in the Rewards tab, lets users select between claiming rewards in $USDC or $HTM tokens, with the latter offering a 5% bonus. This means a $100 reward can be claimed as either $100 in USDC or $105 in $HTM. If $HTM is chosen, AshSwap Aggregator will convert $USDC rewards into $HTM tokens. Users can also customize slippage settings on the Accumulator dashboard for optimal trading.
Importantly, the Booster's impact will soon extend beyond the lending protocol, influencing the Liquid Staking module and $USH. This will significantly benefit both users and validators, reinforcing the central role of $HTM in the Hatom ecosystem.
After thorough market research, evaluating active wallets, future unlocks, usage trends, and collateral metrics, we've settled on a 10% $HTM deposit in the Booster module, surpassing the initially considered 5%.
This choice aims to enhance user participation while upholding the protocol's economic stability. As our platform evolves, adjustments to this 10% parameter may occur, subject to governance proposals to ensure community input.
We are excited to announce the deployment of two new features in the new Devnet. Additionally, we would like to inform you that this version of the booster will undergo a small iteration in the coming days concerning the rebasing aspect, as we believe it will drastically enhance the user experience. The changes will first be applied to the Devnet before transitioning to the Mainnet.
We invite the community to thoroughly stress-test the new features and familiarize themselves with them on the Devnet before they are released on the Mainnet. This release is dependent on your invaluable feedback.
You can explore these features further and provide your insights by accessing any of these links:
https://t.co/Ix6x5afIIj
https://t.co/GkdZFyaFRv
If our Devnet testing phase demonstrates stability and efficiency, anticipate a quick shift to the Mainnet. A countdown will mark this move, akin to the one presented before the protocol's launch.
It's crucial to understand that the transition from Devnet to Mainnet may happen swiftly if the feedback is positive, and a notice of 10 days might not be given. This detail is especially significant for those involved in metastaking. Therefore, if you are metastaking, please take into account this possible change when deciding whether to hold or withdraw your funds.
Our launch will be guided by a well-structured go-to-market strategy. We have chosen to incrementally increase the rewards we offer over a one-month period, ensuring the successful rollout and bootstrapping of the initial phase of our upcoming modules.
This approach allows users to maximize the higher APYs until a balance is achieved between the Booster and positions. We will provide more detailed information about the incentives right before the launch on Mainnet.
Following this initial phase, the rewards will continue to roll out unchanged, with APYs as originally planned for the remaining months.
The primary change will be the increasing prominence of the Booster. To illustrate, consider $EGLD, which currently has a Base APY of 4% along with 4% in Rewards. During the following months, the Base APY will remain dedicated to liquidity provision, just as before. However, 20% of the rewards will start being channeled to the Booster, with access granted exclusively to those who have $HTM tokens deposited in the Booster.
This 20% transition will repeat each month until the entirety of rewards is directed to the HTM Booster. It's important to emphasize that governance will be in effect by then. Should the need arise for any adjustments, we will respond accordingly. As of now, this is the current plan.
We are excited to share the latest updates to our lending protocol, effective as of today:
- The debt ceiling for both $ETH and $BTC has been raised to $450,000.
- The collateral factor for $sEGLD has increased from 70% to 72.5%.
Additionally, the $HTM token is nearing full integration into the lending protocol, featuring a collateral factor of 57%, a supply cap of $2.5 million USD, and a debt ceiling of $150,000. For adding the Money Market, a reindexing process is required; following this update, it will become available on the app.
We're thrilled to announce our collaboration with @ash_swap. This partnership will integrate their Safeprice into our Price Aggregator after undergoing thorough auditing. This advancement will enable the secure integration of additional assets, such as DAI or sDAI, into our protocol.
Hatom Sustainability Vision
At Hatom, our vision centers on synergy, impact, and sustainability. We develop protocols that synergize with one another, always with the vision to empower and support billions in TVL from both security and incentivization perspectives.
Our objective with the incentives was to bootstrap the DeFi ecosystem effectively. We could have chosen liquidity mining or relied solely on protocol utility; however, neither approach would have been as effective in fostering the burgeoning ecosystem that continues to improve with each passing day.
All the key projects within the blockchain are building on top of our platform, indicating that these incentives benefit not just Hatom but the entire space. Given the intensity of the L1 race and fierce competition, time is a critical factor—we cannot afford to aim for anything less than excellence.
Today, we’re gratified by our decision to go all-in, as it has significantly bolstered the health of DeFi. This positive trend is something we anticipate will not only persist but will also be amplified by our upcoming products.
Our goal now is to create a sustainable loop that rewards liquidity providers with genuinely useful products for the community, accomplished without resorting to unusual schemes or token inflation. Our economic model emphasizes pioneering products that generate significant protocol revenue, which is then channeled back to our users.
Two of these products have already been launched and operate flawlessly. At the same time, the upcoming months will bring to life other products that will have a tremendous impact on the sustainability of the protocol.
One of them will be $USH, the first native, over-collateralized, and decentralized stablecoin in the MultiversX ecosystem, while the other will be $xEGLD, an automated leveraged liquid staking strategy, with novel security features.
According to our projections and in line with our forecasts, we are happy to announce that upon the release of $USH, our ecosystem is expected to become self-sustainable.
We anticipate the possibility of incentivizing our lending protocol with protocol-generated revenue. The intention is to maintain APYs at their current levels, and we aim to sustain similar APYs regardless of the TVL, as our revenue tends to increase alongside TVL.
Hatom USD (USH)
After completing the Booster and Accumulator, our attention turned squarely to USH. This product holds the promise of being the most transformative for both Hatom and the broader #MultiversX ecosystem.
Currently, the #MultiversX stablecoin landscape is suboptimal, with a circulating supply of less than $20 million. This shortfall poses challenges like reduced protocol interoperability, diminished user experience, and suboptimal ecosystem growth.
To ensure stability and growth, it's vital to rectify this. Observing the current utilization rate of stablecoins at 80% within our lending protocol, along with occasional spikes above that, underscores the significant need for increased stablecoin liquidity.
USH is poised to transform the whole ecosystem, opening the gates to abundant stable liquidity and offering a hedge against volatility to the users while also helping them maintain EGLD exposure and not miss on potential gains. USH will also help maintain the price of EGLD, as users will no longer need to sell it to access liquidity.
Given our current structure and the expectation that most liquidity will flow through the isolated pool, there will be a notable correlation between USH and EGLD value.
Let's consider a scenario:
EGLD is at $30 and $50 million is activated as collateral in the isolated pool, with 40% used to mint sUSH, amounting to $20 million. If the staking APY of sUSH is at 14% and EGLD experiences a price surge to $300, the rewards generated from the collateral will increase tenfold.
This allows us to distribute 140% on sUSH, motivating users to mint more sUSH and add extra collateral to the system. This ensures the continued proportional minting of USH as EGLD's value increases, establishing equilibrium in APY each time.
USH will be minted through different mechanisms, also known as facilitators, with some of them elevating the status of interoperability between protocols such as:
In our lending protocol, users can supply assets to mint USH in a decentralized manner, allowing them to earn a yield on their collateral while exploring other strategies. Minting fees for USH are determined by the collateral used and set at a fixed rate, which can only be altered through governance.
If you mint USH using two assets, the final minting APY will depend on both collateral assets if they are both involved in borrowing.
Feeless Minting Through Isolated Pools: Users can deposit EGLD into an isolated pool and mint sUSH (staked USH), an interest-bearing stablecoin.
The EGLD deposited as collateral is then converted into sEGLD and deposited in the lending protocol, that route will be the main driver for the growth of sUSH.
To acquire sUSH with USH, the Isolated Pool will be the exclusive route available to users. Additionally, users have the option to exchange USH for sUSH on @ash_swap.
This closed-loop approach is designed to enhance the overall APY of sUSH by directing all fees from various facilitators to sUSH. It's important to note that not all USH will be converted to sUSH.
In the event of mass selling of USH for sUSH on a decentralized exchange, immediate arbitrage opportunities will arise through the Isolated Pool, allowing users to repay their loans using both USH and sUSH.
If this occurs, USH will become cheaper, while sUSH will trade above its exchange rate. A user could deposit EGLD, mint sUSH, sell it to acquire more USH at a lower price, and then use the USH to repay their sUSH loan, thereby retaining the price difference.
This mechanism helps in preserving the stability of both sUSH and USH at their respective prices. It is just one of the protective layers in place to safeguard the peg, with more important layers set to be unveiled in the near future.
Boosted Vaults: This facilitator ensures deep liquidity for USH while promoting interoperability between Hatom and other protocols, significantly boosting user yields while minimizing impermanent losses.
By depositing EGLD, sUSH, or any other supported assets into the boosted vaults, Hatom mints an equivalent value of USH and provides liquidity on various exchanges such as @ash_swap, @DX25Labs, or @xExchangeApp, actively participating in LP farming.
This approach enables users to provide liquidity with a single asset, retaining exposure to their asset without the need to sell half of it to purchase a stablecoin and create the LP.
Users will experience reduced impermanent losses as they receive double the rewards, which compensate even more than if they contributed regularly to the LP. Boosted Vaults are eagerly anticipated by all our partners, as they will significantly boost their liquidity.
The collaboration between $USH and the entire DeFi ecosystem promises great synergy. $USH will be paired with various assets across multiple exchanges, enhancing the ecosystem's liquidity.
For new protocols and projects wishing to set up an LP for their token, they won't need to sell off a portion of their $EGLD. Instead, they can use $EGLD as collateral to mint $USH and establish the LP, keeping their $EGLD exposure.
Innovations like #AshPerps could also integrate $sUSH as collateral, streamlining their operational model and allowing their liquidity providers to not only earn yields from #AshPerp revenue and liquidations but also from Hatom, as $sUSH will continually increase in value due to the fees it captures from various facilitators.
Another example is the integration with xPortal Debit Card, which will enable users to purchase goods and services while retaining full exposure to their EGLD, and they can repay their spending at a later stage when EGLD reaches new heights.
$USH is poised to profoundly impact the #MultiversX ecosystem. Its adoption will lead to a surge in Hatom's revenue. Hatom's ecosystem has been designed for all our protocols to have most of the revenue in volatile assets.
Even on protocols like $USH, 90% of the revenue from all protocols is expected to be in $EGLD or $sEGLD. This approach ensures that once sustainability is achieved, we can maintain similar APYs, whether we're dealing with 100M or 5 billion in TVL.
Hatom's total value locked will also receive a significant boost from $USH, especially with the introduction of the second facilitator, isolated pools.
Consider a scenario where users deposit $100 million in $EGLD as collateral to mint $50 million in $sUSH. This $EGLD is then channeled through the liquid staking module, with the protocol receiving $sEGLD. The $sEGLD will be utilized in the lending protocol, and users could also supply the $sUSH minted in the lending protocol to earn additional rewards and use it as collateral power.
In this scenario, the initial $100 million deposit could potentially lead to an additional $350 million in total value locked for Hatom, pushing #MultiversX DeFi TVL to new heights once more, even during those difficult market conditions.
It'll be captivating to watch Hatom's TVL rise with EGLD's all-time high, and the impact on $HTM, closely linked to TVL through the HTM booster.
Hatom Governance
As Hatom continues to grow and evolve, we recognize the pivotal role that decentralized governance will play in shaping our ecosystem's future. We're excited to announce our commitment to launching governance before the USH launch.
This move empowers HTM token holders, enabling them to actively influence critical decisions, adjust system parameters, introduce innovative features, and explore partnerships.
Our governance model has undergone multiple iterations to ensure fairness and efficiency, featuring a snapshot model and supporting multiple polls for various protocols, each with its unique voting power, all governed by HTM tokens.
Soul Protocol
As this space evolves, we know that innovation stands at its core. It’s with this spirit of continuous evolution that we’ve decided to elevate the lending sector by crafting a unique protocol, Soul.
We're excited to announce that the Soul website, where the protocol and vision are explained, is 90% complete. We're in the final stages of refining the last details before its release to you. You'll be amazed by its visionary approach, groundbreaking nature, and the multitude of DeFi opportunities it will unlock.
Soul is a Layer X+1 cross-chain lending protocol, that leverages LayerZero technology; a state-of-the-art hub that will unify liquidity across multiple blockchains and lending protocols and it will open the gate to limitless DeFi opportunities. The protocol is no longer just an idea, and for the past four months, a dedicated team of individuals, separated from Hatom has been tirelessly working to bring this to life.
Fragmented liquidity in the crypto space has become increasingly evident with new protocols and blockchains emerging. This fragmentation poses challenges for users trying to tap into opportunities across different ecosystems without the risks and inefficiencies of bridging funds.
With over $14 billion in assets across various protocols, Soul has the potential to lead the crypto space. Our integrated approach combines top lending protocols into a unified interface, simplifying user position monitoring and adjustment for optimal yields while respecting the principle that 'liquidity is king.' We don't compete with lending protocols; we build on top of them.
Soul's seamless integration with Hatom in the #MultiversX ecosystem is poised to inject a surge of liquidity from various ecosystems, magnifying its positive impact.
This integration sets new interoperability standards, eliminating the requirement for bridges between chains. Users can deposit assets on Aave (#Ethereum) via Soul, utilize them as collateral, secure loans on Hatom (#MultiversX ), and vice versa.
Soul closely monitors user positions across lending protocols and blockchains, providing accurate details on borrowing eligibility and potential liquidation risks.
Hatom V2
At the same time, we're working on Hatom V2 design, primarily focusing on enhancing the homepage to align with Hatom's vision. Slight changes will also be made to the dApp to provide an even better and improved user experience.
Our accomplishments have been made possible by a dedicated, visionary, and persistent team of individuals who have played a vital role in our operations. We extend our heartfelt gratitude to each member of the team for their unwavering contributions.
As we introduce the talented minds from Hatom and Soul, we aim to ensure they receive the recognition they rightfully deserve, even as they work diligently behind the scenes. Our key contributors driving these efforts include:
Ahmed Serghini, Chief Executive Officer
Ramiro Vignolo, Head of Engineering
Franco Scucchiero, Chief Technology Officer
Ariel Chang, VP of Engineering
Pablo Altamura, Senior Blockchain Engineer
Carlos Alvarez, Senior Blockchain Engineer
Diego Pontello, Senior Blockchain Engineer
Garcia Rodrigo, Senior Blockchain Engineer
Arturo Collado, Senior Blockchain Engineer
Federico Cavazzoli, Senior Blockchain Engineer
Pablo Szuban, Blockchain Engineer
Dario Balmaceda, Senior Blockchain Engineer
Facundo Farall, Senior Blockchain Engineer
Daniela Peña Arenas, Senior Backend Engineer
Nicolas Trozzo, Senior Backend Engineer
Rey Almicar, Senior Backend Engineer
Luis Lucena, Senior Full Stack Engineer
Hernan Mauricio, Senior Frontend Engineer
Agustin Dall’Alba, Senior Frontend Engineer
Tarantuviez Francisco, Senior Frontend Engineer
Essafi Othmane, Senior Frontend Engineer
Agustin Salvo, Frontend Engineer
Mamatahir Badr, Senior Full Stack Engineer
Fatah Said, Senior Full Stack Engineer
Sanchez Nelson, Senior DevOps Engineer
Bouimezgane Bouchra, 2D Graphic Designer
Tadej Blazic, 3D Designer
Kevin Kalde, 3D Designer
Khattabi Mehdi, 3D Motion Designer
Soufiane Mouatassim, Chief Development Officer
Oussa Guennouni, Chief Marketing Officer
Robert Olteanu, Business Development Manager
Davy, Andrei, Bright, Romeo, Community Managers
As we journey forward, expanding the Hatom ecosystem and beyond, we deeply appreciate your unwavering patience, support, and trust. We have significant tasks ahead, and the involvement of all major parties is crucial for the successful realization of our vision.
Thank you for being an integral part of this adventure, and thank you for your trust! 🙏
The time has come.
@HatomProtocol is ready to expand the #MultiversX ecosystem - bringing deep liquidity, lending, liquid staking & other substantial DeFi tools.
First xLaunchpad startup open via both $EGLD & $XMEX energy.
Research phase begins on June 21.
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