Hubble
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Hubble's Phase 1 launches a Solana native crypto-backed stablecoin, USDH, that earns users a yield on their multi-asset collateral. Phases 2 and 3 will launch DeFi structured products and undercollateralized loan
How it work
- Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble's core product is USDH, a decentralized stablecoin that can be borrowed against your crypto assets.
- Users can deposit multiple crypto assets like SOL, BTC, ETH, and others, to borrow USDH. In turn, USDH can be used to serve various purposes across Solana DeFi.
- Hubble will offer multiple USDH borrowing vaults, with various asset combinations and vault-specific parameters such as Stability Fees and Deposit Caps. USDH borrows are guaranteed by a combination of Hubble's USDH Vault (Stability Vault), and bots that facilitate market-based liquidations.
- The USDH that users deposit into the USDH Vault is used to pay off bad loans, while depositors earn a net positive ~10% difference in liquidated assets. In addition, users who deposit USDH in the USDH Vault earn HBB, Hubble's native token.
- In the coming phases of development, the protocol will launch various products and services to bring further utility to the platform, and USDH itself.
The HBB Token
- Hubble delivers value to its community via HBB staking, allowing users to earn rewards generated by the protocol. In future, HBB will be used as Hubble's governance token, which will empower users to direct protocol decision-making.
- Building on top of the borrowing protocol, Hubble will offer unique yield-generating infrastructure, as well as staking mechanisms geared towards adding further value to HBB stakers, while bolstering the value of HBB itself.
- What can I do on Hubble
- With Hubble’s borrowing platform, you can:
- Borrow USDH for as long as you’d like
- Deposit multiple cryptos to mint USDH: SOL, BTC, ETH, mSOL, stSOL, daoSOL, RAY, SRM, FTT
- Yield positive interest on collateral deposits (earn while you borrow)
- Earn protocol rewards by staking HBB
- Earn from liquidations by depositing USDH in the Stability Vault (formerly Stability Pool).
What is USDH?
- USDH is a censorship-resistant, crypto-backed stablecoin, soft-pegged to the US Dollar. USDH is fully collateralized by a basket of crypto assets, deposited into a Hubble Smart Contract.
- USDH is Solana-native, and can be held in any Solana wallet. For every 1 USDH on the market, more than $1 of crypto is deposited into Hubble.
- All USDH in existence is minted from Hubble Protocol. Users can mint USDH by depositing their crypto assets into Hubble. By depositing collateral, a user enables the minting of USDH, thus bringing more USDH into circulation.