Helio Protocol Strengthens Partnership with Wombat Exchange and Other DeFi Stablecoin Partners

Helio Launches New Pools on Wombat

As part of a key strategic development in its journey, lending protocol Helio Protocol has announced its plan to phase out HAY single staking and migrate existing liquidity to two new HAY pools launched on Wombat Exchange. This move is expected to provide users with more liquidity options and higher annual percentage yields (APRs) while strengthening the partnership between Helio and Wombat Exchange.

To kick off this phase, Helio Protocol has launched two new pools on Wombat Exchange and migrated the first batch of the HAY single staking liquidity (totaling $3.5M) to these new pools: 

• Smart HAY pool - consisting of $3M bootstrapped liquidity of HAY, USDC, and USDT. This pool aims to offer an unmatched liquidity pool experience through deep liquidity, best prices and slippage.  

• Stable Guild Pool - consisting of several DeFi stablecoins on BNB Chain, including Helio protocol’s $HAY, Coin98’s $CUSD, Frax Finance’s $FRAX, OvernightFi, $USD+ & $USDT+. Helio Protocol is injecting $500,000 worth of liquidity into the Stable Guild Pool.

The main pool features reliable stablecoins like USDC, USDT, DAI, and BUSD, making it a less risky and volatile option. However, for those willing to take a higher risk, the Stable Guild Pool presents itself as a more volatile and potentially more rewarding alternative.

There are plans to migrate more liquidity in the coming days until the single staking is completely phased out. While user funds on the HAY single staking remain safe, users are advised to migrate to either the HAY Smart Pool or the Stable Guild Pool to enjoy more liquidity and higher APRs.

The Stable Guild Pool is poised to become the largest DeFi stablecoin pool across all chains, and each project will provide bribes to Wombat Exchange to secure the highest emissions and APRs for users. The Smart HAY pool, on the other hand, will become the hub of HAY liquidity with tested and trusted centralized stablecoins, providing the best prices and minimal slippages. Additionally, some fun GALXE campaigns will be hosted by Wombat Exchange.

Helio Protocol's latest move will strengthen partnerships and deepen its cooperation with other DeFi stablecoin partners. The co-incentivization of the "Smart Guild" pool on Wombat aims to attract more buzz from the BNB Chain DeFi community and increase key metrics such as trading volume, borrowers, and holders.

Ongoing Galxe #VerifiedGuardian Campaign

Helio Protocol recently launched the #VerifiedGuardian campaign on Galxe to commemorate the zero borrowing interest rates on BNB collaterals with a total Prize Pool of 10,000 HAY. The campaign runs until May 18. 

Helio Protocol's decision to phase out HAY single staking and migrate existing liquidity to HAY pools on Wombat Exchange is a strategic move that benefits users by offering more liquidity options and higher APYs. The Stable Guild Pool, in particular, presents an exciting opportunity for users who seek a more volatile option with higher rewards. Helio Protocol's latest move will strengthen its partnerships and deepen its cooperation with other DeFi stablecoin partners while boosting key protocol metrics. 

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. 

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