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Developed on the BNB Chain, Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on HAY, a “destablecoin.” A destablecoin is a new asset class that is over-collateralized with liquid-staked assets. In other words, HAY is an over-collateralized destablecoin, where 1 HAY is always redeemable for $1 of cryptocurrency and is over-collateralized by BNB. Users can mint and borrow HAY by providing BNB as collateral, which can then be used for staking to earn yield, liquidity mining, and transferring value. Following the launch of its governance token, HELIO, Helio Protocol will operate as a DAO, where the community will govern the protocol’s treasury, revenue pool, and future direction.
Overview
Developed on the BNB Chain, Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on HAY, a “destablecoin.” A destablecoin is a new asset class that is over-collateralized with liquid-staked assets. In other words, HAY is an over-collateralized destablecoin, where 1 HAY is always redeemable for $1 of cryptocurrency and is over-collateralized by BNB. Users can mint and borrow HAY by providing BNB as collateral, which can then be used for staking to earn yield, liquidity mining, and transferring value. Following the launch of its governance token, HELIO, Helio Protocol will operate as a DAO, where the community will govern the protocol’s treasury, revenue pool, and future direction.
- Ecosystem
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Team
Team information has not been disclosed.
Funding history
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