Explore with Saros #3: Everything you need to know about Hubble Protocol (HBB)
General
Hubble is a Lending project on Solana with Stablecoin USDH. It is considered one of the breakthrough projects in the Debt Protocol category as deposited collateral assets don’t simply lie dormant. Instead, borrowers will have the option to earn yield on their deposited assets. Moreover, Hubble also provides a variety of DeFi services as the protocol continues to grow strongly.
What is Hubble?
On Solana, users will deposit digital assets to mint USDH. This mechanism is similar to MakerDAO with DAI, Parrot with PAI, or in Solana itself.
Striking features
Hubble allows multiple types of assets, including SOL, BTC, ETH. And it has LTV up to 90,0% (means that Collateral Ratio or CR reaching 110%)
Ex: When SOL price is at $100 per coin, if you deposit 10 SOL to borrow 500 USDH, CR will be: (10*100/500)*100 = 200%. And when CR falls below 110% (i.e. USDH borrowed is $909), the asset will be liquidated. Instead of sitting still in the protocol like MarkerDao, these assets on Hubble are further staked or farmed somewhere else to maximize profits.
The mechanism is similar to Fei Protocol, or more precisely Alchemix where collaterals can be used to generate greater interest for borrowers.
However, there is one drawback is that Hubble requires a minimum borrow amount at 200 USDH, equivalent to $200.
HBB Token Key Metrics
- Token Name: Hubble
- Ticker: HBB
- Blockchain: Solana
- Token Standard: SPL
- Contract: HBB111SCo9jkCejsZfz8Ec8nH7T6THF8KEKSnvwT6XK6
- Token Type: Utility, Governance
- Total Supply: 100,000,000 HBB
HBB Token Allocation
- Token Sale: 30%
- Preseed Sale: 4.4%
- Seed Sale: 12%
- Private Sale: 9.2%
- Strategic Sale: 0.4%
- Public Sale: 4%
- Liquidity Incentives: 25%
- Team & Advisors: 15%
- BD Fund: 15%
- Treasury: 10%
- Ecosystem: 5%
HBB Token Sales
HBB Token Release Schedule
- Preseed Sale: 0% TGE, 1 month Cliff, then unlock 15% and pay in 12 months.
- Seed Sale: 0% TGE, 1 month Cliff, then unlock 15% and amortize over 12 months.
- Private Sale: 0% TGE, 1.5 months Cliff, then unlock 10% and amortize over 18 months.
- Strategic Sale: 12.5% TGE, then amortized in 8 months.
- Public Sale: 33% TGE, then pay in 3 months.
- Team & Advisors: 0% TGE, 6 months Cliff, then 10% unlock and amortization over 24 months.
- BD Fund: 0% TGE, 1 month Cliff, then unlock 2.5% and pay in 12 months.
- Treasury: 0% TGE, 12 months Cliff, then amortized over 12 months.
- Ecosystem: 0% TGE, Vesting time unknown.
HBB Token Use Case
- Administration
- Staking fees collected from the project
How to get HBB Token
HBB tokens are available on centralized exchanges like Hotbit, KuCoin, etc. or decentralized marketplaces like Saros.
How to earn with HBB/USDH on Saros
- Stake HBB - earn HBB directly on SarosStake. Once again, there is no impermanent loss.
- Add C98 - USDH LP, farm and earn C98 on SarosFarm. The APR is an absolute unit!
Project team
Feel free to take a look at Hubble’s contact page at Team Page
Investors
Hubble has raised $3.6M with support from some of the biggest names in Crypto from Three Arrows Capital, Spartan, DeFiance, Jump Capital, Mechanism,...
Conclusion
What do you think about the potential of Hubble? We hope that after this post, you have gained a better understanding of Hubble Protocol as well as how to make the most out of HBB/USDH tokens on Saros.
Stay tuned for the next episode of the “Explore With Saros” series!
Disclaimer: The information provided is given only for educational purposes, and it should not be considered as financial advice. Saros is not liable for any financial losses or other damages incurred as a result of utilizing the aforementioned initiatives, platforms, or cryptocurrencies.
About Saros Finance
Saros Finance is the ultimate DeFi platform native to Solana, with trading, staking, and yield farming services. Built by Coin98 Labs, Saros Finance aims to adopt millions of users to DeFi.