DeFi
Helio Protocol, a multi-product decentralized lending/borrowing protocol, scores essential partnerships and invitations its customers to participate in an NFT promo and launch of a brand new stablecoin.
Helio Protocol (HAY) reduces borrowing rates of interest to zero
In line with the official announcement shared by representatives of Helio Protocol, it quickly lowered borrowing charges for all customers who collateralize Binance Coin (BNB) to zero. Ranging from April 22, 2023, they’ll borrow HAY stablecoins soft-pegged to the U.S. Greenback, paying zero commissions.
This providing turns into doable due to the specifics of liquid staking for Binance Coin (BNB) by Helio Protocol (HAY) customers. The platform earns actual yield on all BNB collateral and distributes rewards to HAY stakers and liquidity suppliers.
That’s the reason, even with zero curiosity on collateral, Helio Protocol (HAY) is ready to incentivize its prospects and liquidity suppliers in a sustainable method. With extra liquidity injected, this mechanism turns into much more engaging and worthwhile for the typical investor.
Helio Protocol (HAY) collaborates with Frax Finance and turns into USDFi launch associate
Moreover the brand new liquidity program, the crew of Helio Protocol (HAY) introduced the beginning of a partnership with Frax Finance (FXS), some of the common DeFi ecosystems, and a protocol with FRAX, the first-ever fractional stablecoin that turned totally collateralized final February.
The partnership program will embody varied large technical and advertising and marketing actions, joint promo campaigns and so forth. Nonetheless, the joint liquidity initiatives of the 2 groups can be in focus for Helio Protocol (HAY) and Frax Finance (FXS) — particularly, on mainstream multi-chain DeFi protocols Wombat Trade (WOM) and Thena Fi (THE). Extra particulars of this integrations can be confirmed shortly.
Additionally, Helio Protocol turns into the launch associate of high-performance DeFi platform USDFi. This service promotes itself as a decentralized banking protocol with liquidity-providing instruments, a local decentralized stablecoin and lending/borrowing module.
1/ 📢 On this collectively: We’re extremely excited to announce @Helio_Money as a foundational launch associate of #USDFI 🤜🤛
Quickly, you can commerce, stake or earn charges/bribes/emissions with varied $HAY swimming pools on the USDFI DEX. 🌞 🚨 pic.twitter.com/m1bMMczp25
— usdfi.com (@stable_usdfi) April 26, 2023
Very quickly, HAY destablecoin can be obtainable on USDFi markets. Customers will be capable to commerce it, stake it and inject it in incomes packages. Additionally, HAY can be obtainable for each borrowing and lending operations on USDFi.
USDFi crew is happy in regards to the prospects of collaboration and technical supremacy of Helio Protocol’s merchandise:
The protocol provides $HAY, a real destablecoin. Destablecoins are totally decentralized. Crypto-backed stablecoins reminiscent of DAI leverage on centralized crypto property reminiscent of USDC whereas destablecoins reminiscent of HAY will use decentralized property reminiscent of BNB as collateral – the proper match for a novel cryptoeconomy. Collectively, Helio Cash and USDFi are constructing a brand new, open and composable monetary system.
As lined by U.At this time beforehand, Helio Protocol (HAY) launched a few liquidity initiatives in April 2023. It upgraded the small print of staking for HAY-based swimming pools on PancakeSwap (CAKE) trade and scored a partnership with Meuna DEX.
As well as, it supported HAY and USDT swimming pools on PancakeSwap (CAKE) with a further $800,000 liquidity.
#VerifiedGuardian marketing campaign kicks off
With a view to unfold the phrase about new distinctive incomes alternatives created by zero borrowing charges on HAY for BNB collateral, Helio Protocol has begun a large Thriller Field marketing campaign on Galxe dubbed Verified Guardian.
Between third Could – 18th Could, first 2000 customers who full the marketing campaign steps will be capable to declare a limited-edition NFT and enter to win from a prize pool of 10,000 HAY.
With a view to be eligible for the fortunate draw, crypto customers ought to borrow cash on Helio Protocol, retweet its announcement and go to the applying. A complete of 10,000 HAY has been allotted for the prize pool of this marketing campaign.
2 hundred fifteen winners holding promo NFTs will share the rewards pool. To reward its most passionate liquidity suppliers, Helio Protocol launched the next prizes:
- 1 x 2000 HAY;
- 1 x 1000 HAY;
- 3 x 500 HAY;
- 10 x 150 HAY;
- 200 x 20 HAY.
Extra rounds can be introduced quickly.
That is the primary ever thriller field NFT marketing campaign organized by Helio Protocol on Galxe. The venture teases potential group advantages as a part of extra incentives. Nonetheless, the precise plans of NFT milestones for Helio Protocols are but to be introduced.
Launched in early Q2, 2022, Helio Protocol pioneered the idea of the destablecoin, a 100% on-chain soft-pegged stablecoin collateralized with Binance Coin (BNB).
