Cryptocurrency

Helio Protocol Executes Liquidity Migration Strategy & Tightens Partnership with Wombat Exchange

The open-source liquidity provider Helio Protocol has migrated a total of $3.5M of seed liquidity from HAY staking to Wombat Exchange to further boost the APR for the two pools as well as strengthen its position in the DeFi space.


Helio Introduces New Pools on Wombat

Helio Protocol has shared the details of its next phases of partnership with Wombat Exchange as part of a key strategic development in its journey.

Recently, the lending protocol has announced taking its step in phasing out HAY single staking and migrating existing liquidity from HAY single staking to HAY pools on Wombat Exchange.

According to Helio, these moves will offer users enhanced liquidity options, and attractive Annual Percentage Rates (APRs), and strengthen the partnership between the protocol and Wombat Exchange.

Helio Protocol is a decentralized over-collateralized lending and liquid staking platform that is designed for borrowing and earning yield on HAY, a type of stablecoin that is collateralized with liquid-staked asset BNB.


PoS For Everyone!

By leveraging Proof-of-Stake (PoS) rewards, liquid staking, and yield-bearing assets, Helio is seeking to make HAY the premier stablecoin in the BNB Chain ecosystem. The protocol also works as a DAO to give its community the authority to govern the protocol’s treasury, revenue pool, and future direction.

Helio Protocol launched two new pools on Wombat Exchange, the “Smart HAY Pool” and the “Stable Guild Pool.”, and migrated the first batch of 3.5 million HAY single-staking liquidity to these pools.

The Smart HAY pool consists of $3M bootstrapped liquidity of HAY, USDC, and USDT, and is to offer an unmatched liquidity pool experience through deep liquidity, best prices, and slippage.

Meanwhile, the Stable Guild Pool has several DeFi stablecoins on BNB Chain, including Helio protocol’s $HAY, Coin98’s $CUSD, Frax Finance’s $FRAX, OvernightFi, $USD+ and $USDT+, furthermore, it continues to be injected $500,000 worth of liquidity by Helio.

While the first pool features reliable stablecoins like USDC, USDT, DAI, and BUSD, making it a less risky and volatile option, the rest presents itself as a more volatile and potentially more rewarding alternative for those who are willing to take a higher risk.

The lending protocol will continue to migrate more liquidity to Wombat until the single staking is completely phased out.

Users can migrate their funds on the HAY single staking to either the HAY Smart Pool or the Stable Guild Pool to receive more liquidity and higher APRs.

This is also one of Helio Protocol’s strategic plans to deepen cooperation and strengthen partnerships with other DeFi stablecoin projects.

The co-incentivization of the “Smart Guild” pool on Wombat Exchange is expected to attract attention and participation from the BNB Chain DeFi community. Not only that, but the liquidity migration strategy also helps to increase key metrics for Helio Protocol, such as trading volume, borrowers, and holders.


Helio Protocol Continues to Expand Reach in DeFi Ecosystem

Helio Protocol keeps collaborating with all the partners to attract as much attention as possible from the whole BNB community to advance decentralized finance (DeFi) and decentralized stablecoin.

One of the most attractive updated features from Helio is the temporary reduction of borrowing interest rates to 0%, to encourage more users to use its borrowing services.

In addition, the protocol has partnered with a new DeFi platform USDFi to allow users to borrow, lend, and trade HAY, Helio Protocol’s native token on USDFi.

On the other hand, Helio Protocol has also announced a strategic partnership with Frax Finance aiming to co-incentivize various HAY and FRAX liquidity pools on Wombat Exchange and Thena Fi in addition to other partnership activities of the two platforms.

All of these are to strengthen its position in the decentralized stablecoin space.

The post Helio Protocol Executes Liquidity Migration Strategy & Tightens Partnership with Wombat Exchange appeared first on Blockonomi.

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