In a bid to advance the decentralized finance (DeFi) and decentralized stablecoin agenda, Helio Protocol has tightened its partnership with Wombat Exchange and formed a strategic alliance with other prominent DeFi stablecoins such as FRAX, CUSD, USD+, and USDT+.
The collaboration aims to foster alliance, collaboration, and cooperation within the DeFi space. These developments come as Helio Protocol announces significant updates and introduces new liquidity pools on Wombat Exchange.
Helio Protocol has taken a proactive step in phasing out HAY single staking, opting instead to migrate liquidity from HAY single staking to HAY pools on Wombat Exchange. By doing so, the protocol believes it can offer users enhanced liquidity options, attractive Annual Percentage Rates (APRs), and foster closer collaboration with Wombat Exchange.
Advancing in the DeFi landscape and Promoting Decentralization
As part of this initiative, Helio Protocol has already opened two new pools on Wombat Exchange and successfully migrated the first batch of HAY single staking liquidity totaling 3.5 million. The two new pools are named the “Stable Guild Pool” and the “Smart HAY pool.”
The Stable Guild Pool brings together several DeFi stablecoins on the BNB Chain, including Helio Protocol’s HAY, Frax Finance’s FRAX, Coin98’s CUSD, OvernightFi’s USD+, and USDT+. This collaborative effort aims to create the largest DeFi stablecoin pool across all chains.
Each project involved in the pool will provide incentives to Wombat Exchange to secure the highest emissions and APRs for users. To further engage the BNB Chain DeFi community, a Twitter space with BNB Chain and GALXE campaigns hosted by Wombat Exchange are planned.
The Smart HAY pool, on the other hand, will feature a combined liquidity of $3 million in HAY, USDC, and USDT. This pool’s purpose is to create a low slippage and efficient hub for users to swap and trade HAY with USDC and USDT on the BNB Chain, offering deep liquidity and favorable prices.
Helio Protocol’s strategy behind these initiatives is to deepen cooperation and strengthen partnerships with other DeFi stablecoin projects. The co-incentivization of the “Smart Guild” pool on Wombat Exchange aims to attract attention and participation from the BNB Chain DeFi community, while also increasing key metrics for Helio Protocol, such as trading volume, borrowers, and holders.
Additionally, leveraging the capital efficiency of Wombat Exchange is expected to enhance the efficiency and APR of HAY products, including single staking. The new pools will be launched on May 10th, marking an important milestone for Helio Protocol and its partners.
As part of these developments, Helio Protocol urges the promotion of the ongoing #verifiedguardian campaign, which seeks to provide a secure and trustworthy environment for DeFi participants. Further information about this campaign can be found at https://galxe.com/helio/campaign/GCgv6UYqQQ.
With these strategic alliances and collaborations, Helio Protocol is poised to further advance the DeFi landscape, promote decentralization, and bring forth innovative solutions within the stablecoin ecosystem.
