Tokenomics
HAY is a decentralized, unbiased, collateral-backed destablecoin soft-pegged to the US Dollar. Users who have collateralized their BNB/BUSD via Helio Protocol are eligible to take out a loan in HAY against their collateral. HAY is generated, backed, and kept stable through collateral assets that are deposited into CeVault functioning as the Helio collateral vault.
Users can borrow HAY by depositing collateral assets into CeVault within Helio Protocol. This is how HAY is entered into circulation and how users gain access to liquidity. Others obtain HAY by buying it from brokers or exchanges, or simply by staking HAY through LPs on external DEXs. Once generated, bought, or received, HAY can be used in the same manner as any other cryptocurrency: it can be sent to others and used as payments for goods and services.
HELIO is the governance token of Helio Protocol and is used to govern Helio’s Revenue Pool distribution and to incentivize users .
HELIO is a BEP-20 compatible token. Its core functions within the Helio Protocol are:
- Platform governance
- Participants incentivization
- Voting on upgrades (add a new vault, change protocol parameters and fees, etc.)
Similar to HAY, HELIO tokens can be swapped or put in a farming pool on a DEX at the user’s discretion to maximize their capital efficiency and compound their yield.
HELIO is distrubuted among HAY borrowers as rewards for borrowing HAY. The amount of received HELIO is calculated dynamically and are the product of rewards rate and total user’s debt in HAY. The rewards rate is a fixed amount set by Helio governance.
Helio collects a borrowing interest from users who take out a loan in HAY. This interest along wth the staking rewards from collateralized BNB/BUSD is deposited and held in the Helio Revenue Pool. The Helio Revenue Pool will then redistribute HAY rewards to HAY liquidity providers (and stakers; staking is an upcoming feature).
Last modified 4mo ago