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Hatom: Complete Liquidity Hub on MultiversX

By 27 November 2023January 24th, 2024No Comments

Decentralised Finance (DeFi) has become a driving force in the crypto space, pushing the boundaries of traditional finance and offering users unprecedented opportunities. Hatom emerges as a liquidity hub for the MultiversX ecosystem, spearheading innovation through five key pillars. In this blog, we explore how Hatom is transforming the DeFi landscape on MultiversX and gaining significant traction with a recent milestone of surpassing $170 million in Total Value Locked (TVL).

EGLD Liquid Staking: Flexibility and Rewards Combined

One of Hatom Protocol’s standout features is EGLD Liquid Staking, enabling users to earn EGLD staking rewards while maintaining the flexibility and liquidity of their EGLD holdings. This unique approach allows users to participate in staking activities without sacrificing their ability to access and trade their assets in DeFi protocols. Hatom bridges the gap between staking rewards and liquidity, providing users with a seamless and secure experience to amplify their liquidity & rewards.

Lending Protocol: Supply, Borrow, and Earn Rewards

Hatom Protocol goes beyond staking with its comprehensive Lending Protocol. Users can supply and borrow a variety of assets, including EGLD, USDC, and the native HTM token. By leveraging their assets as collateral, users unlock the potential to earn rewards while having the flexibility to borrow against their holdings. This multifaceted approach enhances the overall utility of the platform, catering to a diverse range of user needs.

Hatom Booster: Amplifying Rewards with HTM

The Hatom Booster introduces a novel concept where users can stake the HTM token on the platform, enhancing their potential rewards. Users can stake up to 10% of the value of their supplied collateral, unlocking boosted rewards and contributing to the overall growth of the Hatom ecosystem. This innovative feature aligns incentives for users and the platform, fostering a symbiotic relationship between the token, the platform & users.

Hatom Accumulator: Optimise Rewards with HTM

The Hatom Accumulator offers users the option to receive a 5% bonus by choosing to receive their rewards in the native HTM token. This incentivizes users to actively engage with the Hatom ecosystem and aligns with the platform’s goal of promoting the HTM token’s utility. The token will swap the underlying USDC rewards for HTM before distributing them to the user with an added 5% bonus, this method ensures stability for the token as all rewards are mostly collateralised by USDC in the markets before being distributed to holders, meaning if a user decided to immediately swap their rewards for another token, disruption to the price of the HTM token will be minimised.

USH: Over-Collateralized Stability

Hatom Protocol introduces USH, an over-collateralized stable coin designed to ensure a self-sustainable ecosystem for both Hatom and the broader MultiversX network. The stability and reliability of a native stablecoin in USH contributes to the overall resilience of the platform, providing users with a secure foundation for their DeFi activities. Hatom announced their intentions to airdrop $500k USH to those who both provide lending collateral and stake HTM in the platform’s booster.

Surpassing $170 Million TVL

Hatom Protocol’s success is evident in its recent achievement of surpassing $170 million in Total Value Locked. This milestone underscores the growing demand for Hatom’s unique features and the trust that users place in the platform. As Hatom continues to revolutionise DeFi on MultiversX, the community’s enthusiasm and engagement signal a promising future for the protocol.

Conclusion:

Hatom Protocol stands at the forefront of DeFi innovation on the MultiversX ecosystem, offering users a comprehensive suite of features that cater to various financial needs. With EGLD Liquid Staking, a robust Lending Protocol, Hatom Booster, Hatom Accumulator, and the introduction of USH, Hatom is reshaping the way users interact with decentralised finance. The recent milestone of $170 million TVL demonstrates the protocol’s rapid growth and the positive response from the community. As Hatom Protocol continues to evolve, it is poised to leave a lasting impact on the DeFi landscape, setting new standards for user-friendly and feature-rich decentralised finance platforms.