HAY is a decentralised, unbiased, collateral-backed destablecoin soft-pegged to the US Dollar. Users who have collateralised 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 Both Helio Protocol and Synclub.io. Once launched, it will be used to govern Helio and Synclub’s Revenue Pool distribution and to incentivise users . HELIO is a BEP-20 and ERC-20 compatible token.
Its core functions within Helio Protocol are:
- Platform governance
- Participant incentives
- 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 maximise their capital efficiency and compound their yield.