LONDON, UK / ACCESSWIRE / January 29, 2022 / Decentralized finance (DeFi) project Hubble Protocol will launch its dApp on the Solana mainnet beta this January 28th. Friday’s launch will allow users to deposit their crypto assets on USDH, a censorship-resistant stablecoin hailing from Solana.
The launch will also allow users to stake HBB tokens and start earning rewards through the protocol. Users will be able to deposit their newly created USDH into the Hubble Stability Pool to start earning HBB as well as liquidation rewards.
Hubble closed a series of three token launches for HBB on three different launchpads (SolRazr, Solanium, and DAO Maker) in the days leading up to launch. Four million tokens priced at one dollar each were allocated to this public offering, and despite some technical difficulties due to the speed of Solana transactions, the allocation was almost exhausted.
This public fundraiser is in addition to the $10 million Hubble Protocol received in private sales. In a report on the full launch of SolRazr SOLR Community HBB, Hubble noted strong community support with 1,060 participating users and a majority of those users acquiring the smallest allocations available.
Hubble announced partnerships with Marinade Finance and Saber, two major protocols on Solana. By introducing an innovation for Collateral Debt Positions (CDP), Hubble users can choose to earn a return on their SOL deposits through Marinade while they borrow USDH. Going forward, the protocol will add additional yield strategies for other tokens accepted as collateral.
About the Hubble Protocol
The Hubble Protocol plans to continuously develop state-of-the-art DeFi services on Solana. Hubble’s first phase focuses on zero-interest multi-assets loan and the hit of USDH, a censorship-resistant crypto stablecoin. Users can deposit collateral and borrow at 0% interest while earning APY on those deposits.
Project Team Leader Marius Ciubotariu has extensive experience programming FinTech products with the London office of Bloomberg LP for eight years. The Hubble Protocol will follow a dedicated roadmap to become a Decentralized Autonomous Organization (DAO) as the protocol leaves no stone unturned in exploring the future of DeFi on the world’s fastest blockchain, Solana.
THE SOURCE: Hubble
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