Hubble Protocol is now LIVE on the Solana Mainnet, as of the 31st of January, allowing individuals to mint and deposit USDH as well as stake their HBB.
After providing the knowledge on how to use Hubble, users can now take on the next step on the platform where USDH has entered the greater Solana system.
Mint USDH and Stake HBB
You can now mint and deposit USDH as well as stake HBB.
HBB is staked on Hubble Protocol with the objective of earning rewards. Other than rewards, it is expected that the token will serve as a governance token, which will be used to vote on matters concerning improving proposals on the platform. Staking HBB calls for 85% earnings of the protocol’s fee.
USDH, a Solana native crypto-backed stablecoin, earns users a yield on their multi-asset collateral. Users can deposit multiple cryptocurrencies to mint USDH, including SOL, BTC, STH, and FTT. Users will be able to borrow while at the same time earn rewards.
Step-by-Step Guide on How to Use Hubble
Using Hubble depends on the procedure you are looking to complete. The platform allows users to borrow USDH, stake HBB, participate in the stability pool, manage your loan, as well as redeem USDH for other tokens. You can also trigger liquidations, allowing the first participant triggering the liquidation to earn 0.5% of the total asset liquidated. The platform will include a step-by-step guide on how to use Hubble, providing instructions on:
- Borrowing USDH
- Managing your loan
- Participating in the stability pool
- Staking HBB
- Redeeming USDH
- Triggering liquidations
Hubble Protocol is glad to be live on the Solana Mainnet. Users can easily participate in the token’s first use cases. In turn, you can start earning yields by participating in this decentralised finance with the help of USDH. You can provide and swap USDH via Saber, as well as provide HBB LP on Orca. Hubble’s stablecoin is a Solana DeFi game changer.
Explaining what’s impressive about the innovative approach of the Hubble Protocol project, Editor in Chief at Cryptonaire Weekly Mr Karnav Shah said: “Hubble Protocol really provides one of the best solutions to crypto users who want to maximise their portfolio efficiency as your crypto continues to earn the best yield available while deposited with Hubble. At Platinum Crypto Academy we are glad to have introduced our readers to such a brilliant initiative. I’m sure we will have more from the Hubble Protocol project for our readers in our subsequent weeklies.”
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