What is the Hubble Protocol Project? Details about the project and the HBB . token

• Hubble Protocol Project Overview
• What is the Hubble Protocol Project?
• Highlights of the Hubble Protocol project
• Product of the Hubble Protocol project
• Roadmap of the Hubble Protocol project
• Hubble Protocol project developers and investors
• Tokenomics of the Hubble Protocol
• What is the Hubble Protocol (HBB) Token?
• Functions of the Hubble Protocol (HBB) token
• Where can the Hubble Protocol Token (HBB) be purchased?
• The future of the Hubble Protocol project. Should you invest in Hubble Protocol or not?
• summary

Hubble Protocol Project Overview

What is the Hubble Protocol Project?

Hubble Protocol is a fee-sharing decentralized finance (DeFi) protocol . Hubble Protocol is built on the Solana platform. In the future, Hubble Protocol will provide many different protocols, helping DeFi continue to grow and expand.

The Hubble Protocol project begins its DeFi journey in phase 1, with a major focus on USDH borrowing and minting. Users can deposit various crypto assets such as SOL, BTC, ETH to be able to borrow up to 110% LTV (Loan-to-Value) in USDH. During the borrowing process, users can still earn income from the profits of their deposits.

Currently, Hubble Protocol is offering borrowers a very low fixed interest rate. Borrowers don't need to mature, so the Hubble Protocol also helps unlock utility for users' collateral.   

Highlights of the Hubble Protocol project

The Hubble Protocol project has 3 highlights as follows:

Borrowing property: Easy, low cost with attractive incentives

Holders of SOL, BTC, ETH… are motivated and motivated to maintain their portfolio so they can spend USDH. At the same time, they can earn income elsewhere by borrowing up to 110% of their collateral while keeping tokens in the system's vault. After paying off the loans, they can get their rights back to the property they used as collateral.

As noted above, users will only incur a low fee, equivalent to 0.5% of the loan issued, with no compounding or fixed or maturing terms. 

Have income from collateral

Users not only get to keep their collateral, but at the same time, they can profit from those assets themselves. They can actively participate in the collateral allocation network so that their assets are distributed to partners and profit from it. In addition, they can also choose from a variety of strategies for themselves to monetize their collateral.

Management system for the benefit of the community  

The next highlight, Hubble Protocol has a decentralized governance system that allows all active participants in the community to have influence in that community. To encourage user engagement, the Hubble Protocol design team is combining the features of many of the existing operating models that they find best to focus on developing two things:

• Joint direction proposals, where community development work will be decided by the community core team, once a quarter.
• Group Proposals, in which the community can come together to make proposals even if individual voters do not have enough tokens to vote.

Product of the Hubble Protocol project

Currently, the Hubble Protocol project is developing a number of projects as follows: 

Loan DeFi

Currently, Hubble Protocol is accepting deposits of 6 different crypto assets as collateral, including: SOL, ETH, BTC, FTT, RAY, and SRM. In the future, the project will also expand multi-asset deposits to other cryptocurrencies.

The Hubble Protocol allows the owners of these assets to lock up their cryptocurrencies and issue USDH to invest, spend or stake elsewhere and earn more from it.

Liquidity

In the Hubble Protocol, users can borrow properties equal to 90.9% of their total collateral value (110% CR). If the user's borrowed USDH has an increase in value higher than the loan value by a rate of 90.9%, their funds may be liquidated.

On the other hand, all users can trigger liquidation for loans less than 110% collateral rate.

Recovery mode

Recovery mode will be enabled when the total value of collateral deposited on the Hubble Protocol falls below 150% of the total loan amount. In this case, liquidation will be triggered earlier at less than 150% of collateral. This is a measure to prevent risks and restore the system to 150% mortgage

A collateral ratio higher than 150% indicates that the system can withstand a 50% drop in asset prices without defaulting or needing bots or liquidators to intervene.

Roadmap of the Hubble Protocol project

The goal of the Hubble Protocol project is to provide a aggregator of essential DeFi services to users, which are supported by the speed and efficiency of the Solana platform . Hubble Protocol is a product drawn by a team of many years of experience in the FinTech industry with a passion for making DeFi available to the world.

The project is determined to develop in 3 phases, specifically:

• Phase 1 – Ongoing: Main focus on borrowing and minting USDH
• Phase 2 – Expected quarter 2/2022: Participating in the provision of DeFi structured product systems, completing and filling an empty space in DeFi.
• Phase 3 – Unspecified date: Intended to provide decentralized DeFi loans. This is considered a revolutionary step in DeFi lending. This service can help make the DeFi market even more popular in the future.

Hubble Protocol project developers and investors

Development team

Information about the Hubble Protocol development team is currently being updated

Investors

From the seed round, the Hubble Protocol project raised a total of $3.6 million. The project receives investment from many large investment funds in the market. Specifically, they can be mentioned as: Three Arrows Capital, Jump Capital, CMS, Spartan, Delphi Digital, Mechanism Capital, DeFi Alliance, DeFiance Capital and others.

Tokenomics of the Hubble Protocol

What is the Hubble Protocol (HBB) Token?

Currently, the governance token of the Hubble Protocol project is the HBB token. Some details about the HBB token are as follows:

• Token: HBB
• Blockchain Platform: Solana (SPL)
• Total Supply: 100,000,000 HBB
• Initial limit: 1.37 million USD

Rotating Supply: Updating

With its total supply of 100 million HBB, the Hubble Protocol project has the following token allocation strategy:

• 15% for the development team and the team of advisors
• 5% for the ecosystem
• 15% focus on BD . fund
• 25% for liquidity
• 30% for token sale
• 10% for treasury

Functions of the Hubble Protocol (HBB) token

The HBB token has the following basic functions:

• Stake HBB tokens to earn fees from trading activities in the Hubble Protocol and up to 85% of revenue is generated from fees accrued by the platform.
• Governance: HBB token holders have governance rights with the Hubble Protocol platform through a voting mechanism.
• Mint USDH: HBB token can be used to mint USDH.

Where can the Hubble Protocol Token (HBB) be purchased?

The project team intends for the HBB token to launch around the first quarter of 2022.

The future of the Hubble Protocol project. Should you invest in Hubble Protocol or not?

The Hubble Protocol project has been cherished and prepared by the development team for a very long time. There are many other similar projects that may be temporary and will disappear in the future, but that is not the case with the Hubble Protocol. The DeFi space will never stop changing and new innovations will always be the driving force for the Hubble Protocol team to continue to develop the project in response to the DeFi space.

In the next phases of the project, additional services to increase the utility of the platform will continue to be released. For DeFi, a relatively new financial system with great potential for growth, Hubble Protocol will seek to adapt to the changing market and platform, providing products that will help make DeFi a major source of financial services worldwide.

summary

Hubble Protocol intends to continue to deepen and develop features for DeFi on Solana. That means this project will be constantly working, updating with new features and exploring new ways to support the Hubble community's involvement in DeFi. With a focus on leveraging advancements on the Solana blockchain platform, the future Hubble Protocol will design innovative new lending products and deliver them to users.

Readers who are interested and want to learn more about the project can see more at: 

Website | Discord | Twitter | Telegram | Medium | Docs

• NEAR price spikes more than 23% after Near protocol integrates Terra's stablecoin UST
• Interest rate from Anchor Protocol will no longer be 20% by the end of April