Flex Yang, a former co-founder of Babel Finance, has announced the introduction of a distributed stablecoin called HOPE. The stablecoin will be supported by crypto-native reserves and a comprehensive DeFi ecosystem. The HOPE Ecosystem will combine the features of DeFi, CeFi, and TradFi, offering next-generation infrastructure and services. There is transparent and easy to use, even for non-native cryptocurrency investors.
HOPE Ecosystem Launches Decentralized Stablecoin $HOPE Supported by Native Crypto Reserves
The HOPE Ecosystem’s native stablecoin, $HOPE, will be a decentralized stablecoin supported by native crypto reserves. The long-term goal of $HOPE is to become a currency vehicle for everyone to enjoy financial inclusion in a completely open and safe setting. In the short term, $HOPE will serve as a universal collateral for DeFi, TradFi, and CeFi transactions due to its high liquidity, low borrowing costs, and low transaction fees.
$HOPE will initially be pegged to the values of its underlying BTC and ETH reserves. The $HOPE reserve price will fluctuate in the cycle with BTC and ETH. It begins at roughly US$0.5 and eventually reaches US$1 as the market matures. When the HopeSwap platform goes live, users will be able to trade $HOPE for access to DeFi apps inside the Hope Ecosystem.
To encourage liquidity provision and involvement in HOPE Ecosystem governance, an incentive and governance token, $LT, will be issued. Voting-locking $LT for veLT is an option for $LT holders. The $LT incentive system and governance suggestions on important issues like the HOPE financial regulation, treasury distribution, and protocol revenue sharing may be voted on with veLT.
The HOPE Ecosystem: A Comprehensive Suite of DeFi Protocols
The HOPE Ecosystem offers a wide variety of applications for $HOPE and $stHOPE. It includes swaps, loans, and collaterals, and it incentivizes users to take part in the platform by offering $LT as a reward for doing so. The ecosystem comprises four primary protocols: HopeSwap, HopeLend, HopeConnect, and HopeEcho.
HopeSwap is the HOPE Ecosystem’s front door and is built on Ethereum. It is an AMM-based protocol where users can become liquidity providers and earn $LT incentives. It facilitates fee share trades between $HOPE and $LT or other assets. HopeLend is an unsecured credit protocol that has access to a wide variety of funding sources. Borrowers can access overcollateralized loans after providing collateral. On the other hand, lenders can receive interest on deposits of liquid assets.
HopeConnect is a groundbreaking DeFi software that eliminates the need for users to deposit assets. It is a centralized platform to trade derivatives on leading CEXs. Trading on a decentralized and anonymous protocol with no counterparty risk and CEX-level liquidity is now possible. HopeEcho creates synthetic assets by modelling the values of real-world assets. It makes TradFi more accessible to the general public.
The HOPE Ecosystem’s upcoming roadmap includes the mint and burn mechanism of $HOPE and the incorporation of third-party dApps. The HOPE Ecosystem aims to improve upon the present generation of DeFi networks. It will lead the cryptocurrency sector out of the shambles of the recent bear market by drawing on the lessons learned from CeFi crashes last year. The ecosystem seeks to achieve financial inclusion and provide transparency and ease of use to even non-native cryptocurrency investors.