If you are a user of @HatomProtocol and you also want to participate in the upcoming launch on @xLaunchpadApp, here are some things you must be aware of:
1. Both $sEGLD and $HsEGLD will be accepted for the snapshots; the tokens must be in your wallet. Therefore, no HsEGLD activated as collateral can be used for this.
2. Users will be able to deposit both $sEGLD and $HsEGLD in the snapshot smart contract directly from the Hatom website through an easy-to-use dashboard.
3. There is no need to unstake from the protocol. When the time comes to deposit tokens for snapshots, you can simply remove your HsEGLD from the collateral side and deposit it there.
4. You will lose Additional Rewards + Boosted Rewards during the snapshot period; remember that only assets activated as collateral will earn the $USDC rewards on the platform.
5. You will continue to accumulate supply APY + staking rewards for $HsEGLD and staking rewards for $sEGLD.
There is no need to unstake or sell your sEGLD on @ash_swap to participate; everything is designed to work in synergy.
When staking through the Hatom dashboard, the funds will be sent directly to the SC provided by the #MultiversX team; once the snapshot period is over, the funds will have a 10-day cooldown period.
YES WE CAN! ๐บ๐ธ
After 18 months of work, QoWatt is protected & authorised to use its trademarks in the United States.
The approval of QoWatt's brands by the United States of America launches hostilities for the electric conquest of the American dream.
๐https://t.co/ucFbz3t85w
The next stage in NFT adoption starts here.
By building a new layer of simplicity and accessibility for digital assets, enabling instant and on-the-go minting, collecting and trading.
The Grand Prize winner at the xDay Hackathon, @xoxnoNFTs, is coming to xLaunchpad ๐ฅ
Hello world!
#MultiversX technology is stronger than ever, largely due to the growing startup scene using it to drive impact in a way not possible before. For xLaunchpad, the journey looks like this so far:
100,000+ people participated in launching 5 top-tier projects that made significant contributions to the MultiversX ecosystem, adding millions of transactions and TVL.
To match the explosive ecosystem progress, weโre accelerating even further with xLaunchpad. Hereโs how:
More projects - weโre aiming for 1 per quarter, which is more than twice as many projects as until now. Perhaps more, as we get more efficient with this new setup.
Dedicated team - our top makers have been brought together into a dedicated #xLaunchpad team. Their number one priority is successful project launches.
Plug & Play partner network - New venture capital, exchanges, developers, marketing, public relations, legal, finance, human resources and so on. A web of support services ready for our startups to plug into.
Ramped up incubation program - Tailored guidance, workshops and presentations from some of the most impactful entrepreneurs, investors and leaders in the space.
Reusable KYC system - Smoother sailing for all eligible participants when it comes to the nitty-gritty paperwork stuff.
Make sure to follow us and be the first to act on the coming wave of opportunities.
https://t.co/1S8WnW1lPB
The Enthralling Case of $EGLD - A 2023 Thesis
#MultiversXThesisChallenge#MultiversX#EGLD
This thread will divide into:
1. The Edge โ
2. The Flaws โ
3. Critical Directives (How to moonโโ)
4. Predictions ๐
5. Denouement ๐
Warning: Long ๐งต ahead.
@AndreiMX_ Think about how you want to be spending your time 10 years from now. What job? Income? Hobbies? Who do you spend time with? Then ask yourself, what do I need to do in order to live the life I truly want? Money, status, success is not the most importantโฆ How u spend your time is
Crypto users are always searching for the best deals to make their money work.
One of the safest and most attractive options is surely the stable yield on #MultiversX.
@HatomProtocol, the liquidity hub on #MultiversX, currently offers up to a 38% APY on stablecoins through their lending protocol, and itโs a no-brainer.
It's:
- Simple and secure
- Free from impermanent loss
- Over 10 security audits
- Offering instant withdrawals
- Rewards rewards paid in stables or in HTM with a 5% bonus.
It's time for everyone to share the massive opportunities available.
Let's create a positive movement and showcase the strength of MultiversX DeFi.
How can you help, and why?
Participate in this movement:
๐ธCreate an educational thread, post, or video showcasing the impressive APYs on stablecoins available through @HatomProtocol.
๐ธ Use the hashtag #hatomstables appropriately in your post.
From my personal experience, I know that creating content requires time and effort, so I'm happy to announce that I will sponsor this initiative with 15 $EGLD to reward all the hard work of everyone involved.
The distribution will be as follows:
๐น 10 $EGLD among the 3 most engaging posts about this opportunity to earn impressive yields on $USDC and $USDT through @HatomProtocol.
๐น 5 $EGLD will be randomly distributed to 10 individuals who like, tag 3 friends, and retweet (either a simple retweet or a quote retweet) this post.
The deadline is December 22nd at 23:59 UTC!
We encourage all users to participate, even with simple tweets. The goal is to attract stablecoin liquidity to this chain and help #MultiversX grow.
Letโs show the crypto space whatโs possible on #MultiversX.
With the DeFi sector being in constant evolution, striking the right balance between stability and adaptability is essential. It's important to be agile and responsive, adjusting strategies to meet new challenges as they arise.
However, while maintaining adaptability, it's essential to uphold a steady approach, emphasizing careful and calculated decisions that minimize risk and ensure each move aligns positively with a long-term strategic vision.
At Hatom, synergies and sustainability are top priorities. This approach involves carefully considering how each decision benefits individual goals and contributes to the overall health and growth of the entire ecosystem.
By focusing on sustainable protocols that mutually empower each other, we aim to create a robust and resilient environment that benefits all users, ensuring long-term success and stability.
A prime example of this strategy is the introduction of the Booster and Accumulator, two unique products that did not exist elsewhere and were developed in response to the need to enhance the intrinsic utility of $HTM.
These products not only reconcile the interests of investors with those of users engaged in our ecosystem but also leverage our TVL to build a robust economy for our token, $HTM, which will continue to add value as the ecosystem grows over time.
Our initial plans were foundational, but what's coming will be monumental. As we delved deeper into this space over the years, our vision became increasingly sharp; today, we're excited to share our refined plans with you.
What we aim to achieve would not only transform the #MultiversX DeFi landscape but also have a drastic impact on the entire DeFi space. At Hatom, we're building an entire omni-chain ecosystem, and with @0xSoulProtocol, we're crafting the interoperability infrastructure layer that will connect Hatom with other established liquidity protocols, breaking barriers without the need for bridging, thus immediately unlocking tremendous liquidity and opening endless new DeFi opportunities. Subsequently, we aim to extend this in a second phase to tokenized real-world assets, potentially creating one of the largest DeFi primitives ever to exist.
That being said, let's take a deep dive into our vision for the future, where we'll explore various initiatives, from Hatom's evolution to an Omni-Chain Protocol to the release of @0xSoulProtocol, and our integration efforts with #Bittensor and their token $TAO, among other key developments.
Please note that while the order of product releases is displayed chronologically, it could change if we deem it necessary.
1/3 ๐
Automated Leveraged Liquid Staking (xEGLD)
$xEGLD is an index representing an Automated Leveraged Liquid Staking strategy. This strategy involves utilizing $sEGLD, which is supplied in the lending protocol, as collateral to borrow $EGLD.
The borrowed $EGLD is then staked through liquid staking to earn staking APY and receive more $sEGLD. This newly acquired $sEGLD is, in turn, supplied in the lending protocol and used as collateral to continue the cycle.
$EGLD and $sEGLD are closely correlated, which reduces the risk of liquidation since they behave similarly. When the price of $EGLD decreases, the price of $sEGLD also decreases, and when $EGLD increases, $sEGLD also increases, ensuring the safety of the leverage position in the lending protocol.
Additionally, Hatom uses the liquid staking smart contract as a price oracle for $sEGLD in the lending protocol, eliminating the risk of liquidation caused by $sEGLD losing its peg on DEXs, thereby enhancing the security of $xEGLD.
$xEGLD will have caps that follow $EGLD borrowing APYs, ensuring that the strategy remains profitable. Safety measures will also be in place to deleverage the position at the protocol level without the need to go through a stableswap or incur slippage. The booster will also play a major role in allowing the minting of $xEGLD.
It's of utmost importance that $xEGLD is released before $USH, and we will provide more details about this in due time. Additionally, it's worth noting that while we have a version ready, we plan to iterate on it to create a final version.
Introducing USH
$USH is the first native stablecoin of the #MultiversX ecosystem, a multifaceted and sophisticated product, and we're pleased to report significant progress on every front. At its launch, $USH will be anchored by three core facilitators: the lending protocol, isolated pools, and boosted vaults.
Each of these facilitators plays a crucial role in the functionality and utility of $USH. In the lending protocol, users will have the opportunity to leverage their assets as collateral to mint $USH, incurring a fixed interest rate.
The isolated pool feature enables direct minting of $USH with $EGLD without any fees, or with $sEGLD at a dynamic interest rate.
Boosted vaults present a further advantage, allowing users to mint $USH and then engage in liquidity provision by creating an LP, farming it to earn enhanced rewards while at the same time ensuring deep liquidity for the stablecoin.
Additionally, the launch of $USH will see the introduction of a Staking Module. In this module, users can stake their $USH to receive $sUSH, an interest-bearing stablecoin. All the facilitator's revenue is used to increase the exchange rate between $sUSH and $USH.
Furthermore, the integration of $wTAO into our protocol would represent a significant achievement allowing for $USH minting via the isolated pool using $wTAO. This represents the first over-collateralized stablecoin minted with $TAO, opening up innovative opportunities for $TAO holders within the #MultiversX DeFi ecosystem.
Hatom Sustainability & Rewards Conversion to EGLD
By this time, we will have established a sustainable loop where we reward liquidity providers with genuinely useful products that benefit the community. This loop is achieved without resorting to unusual schemes or token inflation. Our economic model emphasizes pioneering products that generate significant protocol revenue, which is then redirected back to our users.
Present Financial Situation: Currently, the income generated from our lending protocol and liquid staking accounts for 60% to 70% of our total monthly rewards (in a typical month). This proportion may vary depending on liquidation volumes, borrowing activities, and market price shifts.
Role of xEGLD and USH in achieving sustainability: The introduction of the $xEGLD Index and $USH is poised to play a critical role in enhancing the ecosystem's earnings, thus contributing significantly to the completion of our sustainability loop.
We plan to use between 10% to 20%, or potentially even less, of the revenue from $xEGLD and $USH to support the lending protocol's rewards. This approach aims to reduce dependence on treasury funds or liquidity mining schemes while maintaining similar reward levels, thereby closing the loop in our sustainable economic model.
Adapting Rewards to Counteract Market Volatility: Our ecosystem is strategically designed to be responsive to changes in TVL and shifts in asset prices. A significant portion of our protocol's revenue, approximately 90%, is derived from volatile assets, predominantly EGLD.
This composition aligns our revenue closely with TVL growth and will enable us to maintain the same APY regardless of the TVL being $150 million or $5 billion. In the case of Money Markets such as USDC, USDT, and similar, an increment in rewards for EGLD, due to its higher volatility, will result in elevated APYs, thereby enhancing their overall liquidity.
Once a sustainable stage is reached, the ecosystem intends to shift from distributing rewards in USDC to EGLD, a more volatile asset. This change aims to stabilize the APYs through additional rewards, even in the face of varying asset prices.
For example, an increase in the price of $EGLD would proportionally increase the value of the incentives, thereby ensuring stable APYs. Furthermore, users will have the choice to claim these rewards in $HTM, receiving a 5% bonus, which enhances the value of the incentives.
Soul V1: App Deployment and Launch Strategy
The release of Soul V1 will primarily focus on leading lending protocols to ensure maximum security and a positive impact. We will start by integrating with @aave, @compoundfinance, and potentially @MorphoLabs, establishing connections between their networks.
Users will be able to supply assets to @aave through @0xSoulProtocol, gaining access to all the benefits Aave offers, along with additional @0xSoulProtocol incentives, and enabling cross-chain borrowing. These incentives will be exclusively available through liquidity provision and will not have a set price or be transferable initially.
As the TVL increases and we assess that the metrics meet our standards, SOUL will undergo the listing process. At this stage, the @0xSoulProtocol version of the booster will activate, and $SOUL emissions will cease.
The revenue generated will be used to buy back $SOUL from the open market, which will then be distributed as incentives. Users will have the opportunity to vote on the allocation of rewards, with a primary focus on the gauges (where most rewards should generally be dedicated).
Additionally, users will also be able to boost their own positions to achieve the maximum boost. Liquidity-based emissions will only occur initially to attract TVL at the launch; after that, revenue from the protocol will be used for incentives, facilitated through cross-chain utility.
This sustainable loop will allow @0xSoulProtocol to grow fast and organically, leveraging its tremendous utility. This is just a glimpse of the go-to-market strategy; more details will be provided in due time.
Hatom V2 & Omni-Chain Debuts
Hatom V2 will primarily focus on refining and enhancing our platform to exceed the evolving needs of our users. This upcoming iteration aims to elevate the entire Hatom experience. You will get a glimpse of our design and user experience capabilities with the release of the Soul landing page. This will showcase what we have achieved so far in terms of branding and animation, and you can only envision the potential for further enhancements in Hatom V2.
Key aspects of this new version include a comprehensive redesign of the Hatom website, ensuring a more intuitive, user-friendly, and visually appealing interface. This redesign is meticulously crafted to provide an enriched browsing experience, seamlessly guiding users through the various products of the protocol.
In parallel, we are also making modifications to the dApp interface, optimizing sizes, improving user interaction, and enhancing accessibility to make our platform more approachable and user-friendly, ultimately making DeFi more accessible to a broader audience.
As we expand our reach, we're thrilled to announce that with the deployment of @0xSoulProtocol as groundbreaking infrastructure and Hatom achieving self-sustainability in the #MultiversX ecosystem, our protocol will no longer be confined to a single chain.
In this exciting phase, all Hatom modules, including the Lending Protocol, Liquid Staking, USH Stablecoin, Booster, Accumulator, and TAO bridge will gradually transition to an Omni-Chain model. These modules will be deployed across various chains and interconnected with other top-tier protocols through @0xSoulProtocol.
Our goal is to establish a dynamic Omni-Chain liquidity protocol, featuring robust products and a resilient economic model.
We are committed to ensuring that, regardless of the specific ecosystem of each chain, our protocol consistently offers optimal earning opportunities for our users, without relying on liquidity mining. It's crucial to emphasize that there will be no economic modifications to the overall protocol.
HTM will maintain its status as an #ESDT token, integral to the Hatom ecosystem. To fully utilize the capabilities of the entire Hatom ecosystem across various chains, including the Booster, users will need to hold $HTM tokens on the respective blockchain networks where Hatom is integrated.
On #MultiversX, users will earn EGLD as additional rewards from protocol revenue, and on #Ethereum, you'll receive ETH, with the option to convert them into $HTM with a 5% bonus.
This approach not only maintains the integrity and utility of HTM but also extends its reach and impact across various blockchain networks, ensuring that HTM's core functions remain consistent and effective in different environments.
With @0xSoulProtocol providing the backbone for cross-chain interoperability and Hatom deployed on multiple chains, the array of opportunities for our users will be endless.
They will be benefiting from a robust hub of protocols that synergize with each other and having control of all products presents distinct advantages. By overseeing these high-revenue-generating protocols, we can intelligently allocate resources between them.
This adaptability is vital because, while one protocol may generate more revenue, another might play a crucial role in providing the core utility for the initial product. This underscores the intricate balance and interdependence within our ecosystem.
This transition to an Omni-Chain will be executed on one blockchain-at-a-time basis, where each integrated network will undergo its own bootstrapping phase until the sustainability loop kicks in.
Soul V2: App Deployment
In our continuous efforts to innovate in the DeFi sector, we are ready to take a significant step forward by addressing the cross-lending dilemma with Soul V1. The upcoming expansion, Soul V2, will enable users to leverage a wide range of tokenized assets, including real estate and bonds, as collateral for loans.
This crucial integration streamlines securing credit lines backed by tangible assets, all within Soul's adaptable, chain-agnostic framework. Users can establish credit lines through well-known lending protocols such as @aave or @compoundfinance by using these tokenized assets as collateral on @0xSoulProtocol.
This approach greatly enhances flexibility for businesses and unlocks the liquidity of their assets, effectively transforming RWAs into a dynamic financial tool within the blockchain ecosystem. This advancement is key to providing streamlined access to secure, asset-backed credit lines.
As we approach the launch of these pivotal developments, it's crucial to recognize the significance of the journey before us. It is an ambitious path, marked by innovation and strategic foresight, and we are fully equipped and committed to navigate it with precision
Having shared our vision, we extend our heartfelt thanks to everyone who has contributed and will contribute to its realization. Your involvement is fundamental to our journey, and this is merely the beginning of what we envision together with Hatom.