Binance Labs Invested $10 Million into Helio Protocol: What's Next?

With the exciting enhancements mapped out in the upcoming V2 roadmap, Helio is poised to drive even greater innovation in the DeFi landscape.

Binance Labs recently injected a substantial sum of $10 million into Helio Protocol, an emerging DeFi platform. Recognized for its innovative approach combining over-collateralized lending of its native decentralized stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure, Helio Protocol is now set to reshape the future of decentralized finance.

With this substantial financial backing, Helio Protocol is gearing up for a series of transformative initiatives aimed at bolstering its market presence and technological capabilities. The platform's future trajectory is underpinned by strategic campaigns, key partnerships, and a suite of exciting product updates.

As a leading provider of LST-backed stablecoins, Helio Protocol is poised to supplement the offerings of established players like USDT and USDC within the decentralized stablecoin ecosystem. The merger between Helio Protocol and Synclub, coupled with the ongoing V1 developments, has laid the foundation for exciting advancements, with the protocol’s upcoming V2 roadmap poised to drive further innovation. 

Helio’s V2 Roadmap

The upcoming V2 enhancements will include a few crucial components:

  • Algorithmic Market Operator (AMO): The AMO module, a pivotal feature, deploys smart contracts to dynamically manage HAY's peg stability against market fluctuations. Acting like a central bank, it employs monetary policies to mint or burn HAY, stabilizing its value at $1. This mechanism enhances both liquidity and peg stability.
  • Lending Module: Helio Protocol will introduce its own lending module, enabling users to lend HAY minted by the AMO while separating liquidation risks across different collateral asset pools. This model fosters a fully autonomous lending ecosystem.
  • Liquidation Module: Implementing the Dutch Auction Model for liquidation, Helio Protocol ensures efficient debt management. This mechanism facilitates community participation, optimizing debt resolution.
  • Integration of RWAs: Helio Protocol explores Real World Asset (RWA) integration, enhancing capital efficiency and yield generation. Tokenizing off-chain assets onto the blockchain brings stable rewards to the community.
  • Multichain Expansion: Following the implementation of the AMO and lending modules, Helio Protocol plans to expand across multiple blockchains, starting with Ethereum and extending to Layer2 networks like Arbitrum and Zksync.

SnBNB Liquid Staking Goes Live on PancakeSwap

To foster deeper collaboration with leading DeFi protocols, Helio has launched SnBNB pools alongside the liquid staking function on PancakeSwap. Check out this comprehensive guide to learn how to stake, unstake and farm SnBNB on PancakeSwap. 

Hottest DeFi Summer Party 

Additionally, Helio has launched a combined ecosystem Galxe campaign — Hottest DeFi Summer Party. With a total reward pool of 20,000 HAY and an exciting lineup of 13 mystery partners, this campaign is set to captivate the DeFi community. 

The campaign collection comprises 3 components:

  • 13 individually sponsored partner campaigns (total prize pool over 13,000 HAY)
  • Helio Protocol specific campaign (total prize pool of 1,000 HAY)
  • Grand prize pool of 6,000 HAY

The campaign, which kick-started on August 17, will run through November 30, 2023, offering participants a unique opportunity to delve into the Helio Protocol ecosystem, engage with esteemed partners, and win enticing rewards. Find specific instructions on how the campaign will work here.

As Helio Protocol embraces a future bolstered by significant investment and transformative enhancements, the DeFi world eagerly anticipates the innovative developments that will undoubtedly shape the future of decentralized finance.

What is Helio Protocol?​

Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on HAY - a new BNB-backed, over-collateralized destablecoin. Built on the BNB Chain, Helio Protocol consists of a dual-token model and mechanisms that support instant conversions, asset collateralization, borrowing, yield farming, and destablecoin staking. Helio Protocol aims to deliver an improved version of already successful stablecoin projects by further optimizing safety and capital efficiency. The protocol aims to achieve this by leveraging Proof-of-Stake (PoS) rewards, liquid staking, and yield-bearing assets. 

Helio smart contracts have notably undergone multiple external audits and security assessments from industry-leading security firms such as CertiK, SlowMist, PeckShield, and Veridise. 

Stay updated with Helio Protocol and HAY via the following links:

Website | Twitter | Telegram | Medium

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