Summary: Over the past few days, Hubble has gone through a lot more changes in its system and is introducing new features of USDH stable coins to improve the platform.
Hubble is a decentralised platform based on the Solana blockchain, which is the fastest blockchain technology it utilises. The company intends to offer multiple DeFi services as a protocol-integrated service and has launched USDH stable coins. The Hubble protocol aims to adapt to market conditions and assist in the production of various products. This will result in DeFi technology becoming a major source of financial services all around the world.
Hubble is also focused on minting the USDH stable coins and has introduced various launches and modifications to its products. Now let’s discuss the USDH coin, their differentiating factor, and where they can be used.
USDH is a decentralised stable coin that is used by the Hubble platform. It is censorship-resistant and is supported by different kinds of crypto assets like SOL, mSOL, BTC, ETH, RAY, SRM, and FTT (with an increased focus on introducing more assets in the future). Hubble also charges a one-time fee for the minting and the redemption of the USDH stable coins.
A USDH stable coin arbitrage becomes profitable, as long as the market price of the USD remains between 0.995 USD and 1.005 USD. It is also possible to earn a yield on the asset deposited and to earn rewards by putting it into Hubble’s stability pool. Contrasting to the other stable coins, USDH is different in several ways. USDH is backed by the 100% censorship of crypto assets. Crypto assets are used as collateral to ensure the longevity of the USDH, whereas in other stable coins, it is not the case.
USDH stable coins offer a variety of advantages and can be beneficial in many ways. As it is a Solana native stable coin, it can be used for a variety of purposes. Some of them are listed below:
- Bonding the USDH token to other tokens
- Paring of the USDH for liquidity in the automated market makers
- Holding the USDH as a store of value.
Coming to the advantages that the users can avail of using the USDH coins, they are as follows:
- Users can repay the loan by depositing the loan amount in smaller increments and can accordingly repay the loan over a period of time. This will also aid in improving the collateral ratio.
- Users can also deposit the whole amount of USDH back into Hubble and thus can instantly close the position.
- Users can also get a low collateral ratio when they use liquidated assets.
- Users can even deposit the USDH into Hubble’s stability pool to keep the system healthy and thus facilitate liquidations.
Having discussed the USDH stable coins, let’s have some insight into the new modifications and launches that the Hubble platform has passed through recently.
- Raydium integrated USDH – Recently, the Raydium platform, one of the Solana’s largest DEX, has integrated Hubble’s protocol USDH as a quoted token on DEX. This will enable the USDH to be paired with any token on the DEX, which is a huge change.
- Recovery mode has been disabled – The Hubble protocol has disabled the recovery mode. As a result, the ecosystem will be able to provide relief for users, as other users cannot borrow and start recovery modes.
- AMAs – Hubble has taken an immense step and believes that the team that they have is skilled enough to handle the AMA. They further add that the marketing term has run two AMAs; one hosted by Cream and the other was hosted by Crypto Rand.
Therefore, the Hubble protocol has been updated quite a bit recently, including the introduction of UI/UX, the launch of forums, and the removal of recovery mode. Moreover, you can find more information related to Hubble and the upcoming launches they are undergoing on their website. The link to the website is https://hubbleprotocol.io/ and to the blog page is blog.hubbleprotocol.io.
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