About

Helio Protocol is a decentralized finance (DeFi) project that offers a USD-pegged stablecoin called HAY, which is backed by BNB. Users can provide BNB collateral to borrow HAY, and also earn yield by farming HAY on trusted partner DEXes. The protocol is powered by the BNB Chain and has undergone multiple external audits to ensure security.

History

Collateralized stablecoins either carry custodial risk or require on-chain over-collateralization. These models can provide a fairly tight peg with higher confidence than purely algorithmic designs.

Many blockchain-based lending protocols promise low fees, fast execution and high returns but they continue to suffer inefficiencies in design stemming from the “Stablecoin Trilemma”. This trilemma forces stablecoin developers to focus on mechanisms that can sacrifice either decentralization, price stability, or capital efficiency.

The intent behind Helio Protocol is to propose a solution to the capital efficiency problem that over-collateralized stablecoins experience by allowing users to leverage their funds with a collateral debt position (CDP). Through a combination of liquid staking, the functionality of the MakerDAO model and additional liquidity from LPs on DEXs, Helio Protocol will avoid issues such as frozen funds (fiat-backed) or held value lost (algorithmic) because of price instability.

Helio built by experienced DeFi experts and smart contract developers with the goal to position HAY destablecoin as the most widely used one, by leveraging Proof-of-Stake (PoS) rewards, Binance Liquid Staking, and yield-bearing assets.

The Helio team aims to help promote blockchain technologies into mainstream adoption by incentivizing borrowers and stakers to become a part of a new decentralized economy of scale.