What is Helio Protocol?
Helio Protocol is an open source protocol for borrowing and earning interest on the HAY token, a destablecoin sponsored by BNB. Helio aims to position $HAY not only as a pioneer token but also as the leading token of the destablecoin array on BNB Chain.
Besides, Helio Protocol is also a decentralized liquid staking and collateralized lending platform built on BNB Chain. Or is the project's native destablecoin 100% backed by BNB.
Its main function is a loan for mortgage of BNB with a mortgage rate of about 152% (For example, if you mortgage $1000 BNB, you can borrow about $ 150 OR), Liquidity mining on LP Dexes Helio's core goal is to provide a destablecoin ($HAY) that will be capital efficient and decentralized.
What is Destablecoin $HAY? Difference between destablecoin & stablecoin
What is Destablecoin $HAY?
“Decentralized-stablecoin” is a new type of asset class within the crypto space that seeks to label a more accurate term in the current stablecoin landscape. Destablecoins utilize decentralized, liquid staked, crypto assets only as collateral and do not aim to achieve absolute price stability with fiat-based currencies such as USD.
HAY's price stability mechanism
The Helio Protocol is able to maintain HAY’s $1 value with respect to USD in the following scenarios:
When HAY > $1, the supply of HAY needs to increase:
- Since HAY is at a premium, borrowers are incentivized to borrow more HAY to sell for other assets for arbitrage opportunities.
- To reduce demand for HAY farming, Helio will reduce HAY farming rewards by decreasing HAY borrowing interest.
When HAY < $1, the supply of HAY needs to decrease
- Since HAY is at a discount, borrowers are incentivized to buy HAY from the market to pay back the debt.
- To decrease HAY borrowing demand, Helio will increase HAY borrowing interest, which increases HAY farming rewards
Tokenomic
· Ticker: HAY
· Blockchain: BNB chain
· Token type: governance, utility
· Token Standard: BEP-20
· Total Supply: 6,687,103 HAY
· Max Supply: 1,000,000,000 HAY
· Circulating Supply: 6,680,871 HAY
· Market Cap: $6,827,567
· 24H Trading Vol: $60,187
Difference between destablecoin & stablecoin
Make Profits With The First Destablecoin On BNB Chain
Stake
The simplest and safest way is that you can buy $ OR here and take $ OR to stake to receive rewards as well as $ OR on Helio Protocol to experience attractive apr levels up to 25.59%
Borrowing
Pay rate is 2% of the total loan value, then take $OR to stake at Helio itself to make a profit or another way is to bring HAY borrowed amount to farming with HAY/BUSD pair on Pancake swap or Ellipsis.finance with apr 29.44%.
For example, if you mortgage $1000 BNB with a mortgage rate of 152%, you will receive $150 OR and pay a 2% apr equivalent fee of $20. If you stake this $OR with APR of 25.59% the amount you will get will be: $150 x 25.59%= $38.4. So you still make $18.4
Another problem is that you will bring the $OR loan to farm with apr 29.44%, then if everything goes well you will receive a profit: $ 150 x 29.44% -$20= $24.16
Chance to get airdrop from Helio
Currently, the project's native token $HELIO does not have a specific release schedule, if you actively participate in activities on the Helio protocol. Then there is a very high chance that you will have a chance to receive an airdrop from the project.
