Hubble Protocol, a platform that allows you to mint USDH stablecoin against multiple types of collateral, has partnered with LidoFinance, to expand your investment portfolio through a new token integration and reward program.
Thanks to this partnership, individuals can now use $stSOL to mint &USDH. The Lido Finance stablecoin, StSOL, is now acceptable as collateral. $stSOL holders can benefit from $stSOL Hubble acceptance through the following:
- They will be able to retain exposure to $stSOL while upholding the ability to borrow $USDH
- Earn the staking APY via $stSOL while at the same time utilising $USDH across Solana DeFi
- Earn $LDO
The procedure of earning $LDO on Hubble has two simple steps that include depositing $SOL in LidoFinance so that you can receive $stSOL. With $stSOL, you can mint $USDH on Hubble.
$LDO rewards are proportionally distributed across $USDH minters. Minters can claim their rewards at the end of every month. Looking at the reward program, we will be rewarding users on our platform with 250 LDO tokens. This reward is provided on a daily basis for the next two months starting this coming Friday, which is a share of 10K $LDO.
In this, the following two months will enable users who borrow USDH to access liquidity without selling, and they will be able to earn LDO for taking part in DeFi with Hubble will offer rewards to users who deposit stSOL to borrow USDH.
The basic requirements for users to participate in the LDO reward program will include having a minimum of 40% LTV on the loan as well as ensuring that the available loan’s collateral is at a 40% stSOL minimum.
Hubble and Lido have come together to improve the DeFi user experience on Solana.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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