Helio Protocol Expands Partnership with Wombat Exchange, Enhances HAY Liquidity Pools Ecosystem

Vladislav Sopov

Helio Protocol is expanding the range of DeFi instruments available to holders of its HAY asset

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Helio Protocol, a decentralized financial ecosystem behind the unique soft bond “destablecoin” HAY, is sharing the details of its next phases of partnership with Wombat Exchange. With new liquidity engines, more and more traders will be able to benefit from operations with HAY.

Helio Protocol will phase out HAY Single Staking and instead migrate liquidity from HAY Single Staking to HAY Pools on the Wombat Exchange.

During this phase, Helio Protocol opened 2 new pools on the Wombat Exchange and migrated the first batch of HAY single staking liquidity (totaling $3.5M in HAY) to these new pools. Further liquidity will be transferred in the coming days until single staking is fully phased out.

Helio Protocol Launches Stable Guild Pool on Wombat Exchange

According to the official announcement from Helio Protocol and Wombat Exchange, two novel liquidity pools started operating on May 10, 2023. The first is dubbed the “Stable Guild” and features stablecoins backed by top-tier DeFi products.

Namely, HAY by Helio Protocol is joined here by Frax Finance’s FRAX, Coin98’s CUSD, OvernightFi’s USD+ and USDT+. All of these assets are pegged to the US dollar, the largest global reserve currency.

To support the operation of the new liquidity pool, the Helio Protocol team has injected $500,000 in HAY equivalent as an initial liquidity charge to Stable Guild. Other projects will also support new mechanisms with liquidity.

Stable Guild is poised to be the largest DeFi stablecoin pool across multiple EVM-compatible blockchains. Additionally, four team members will focus on providing the highest APR of any liquidity provider.

Smart HAY Pool Goes Live With $3M Bootstrap Liquidity

The Helio Protocol team will leverage Wombat Exchange’s impressive capital efficiency to improve the APR of HAY products such as Single Staking; Further details will be announced in the coming weeks.

Besides Stable Guild, Helio Protocol launches another mechanism, Smart HAY Pool. As a more conservative instrument, it works with HAY, USDT, and USDC. With Smart HAY Pool, any liquidity provider will be able to access non-slip and resource-efficient hubs to allow users to exchange and trade HAY on USDC and USDT via BNB Chain, the cheapest blockchain in the EVM ecosystem.

Similar to Stable Guild Pool, this liquidity engine is powered by the Helio Protocol team. A total of $3,000,000 in HAY, USDC and USDT will be added to this pool. Thus, the best possible prices will be available for DEX traders on the BNB chain.

VerifiedGuardian’s NFT campaign is gaining momentum in May 2023

Both liquidity pools are designed to introduce the Helio Protocol and its flagship product HAY to the next generation of DeFi users. Thanks to Wombat Exchange’s large and passionate community and its technical superiority, new pools will protect liquidity providers from price slides and fickle losses.

Alongside these liquidity initiatives, Helio Protocol continues its NFT-centric VerifiedGuardian campaign.

As previously covered by U.Today, this campaign, running on the Galxe platform, aims to allow users who complete the campaign steps to claim an exclusive NFT. Also, enthusiasts from the Helio protocol community can enter a raffle to share a prize pool of 10,000 HAY.

The Helio protocol is an ecosystem of DeFi products charged with HAY “Destablecoin”, a revolutionary asset soft-pegged to the US Dollar. It was designed to remove major obstacles to centralization that are slowing down the progress of the global DeFi scene.

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