Hubble Light Report 

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A borrowing and stablecoin-minting protocol on Solana 

 

  • Hubble is a decentralized finance (DeFi) protocol built on the Solana blockchain. Hubble enables users to borrow the stablecoin USDH against multiple assets. Borrowing USDH allows users to access liquidity (cash on hand) in their long-term holding tokens.
  • USDH can be minted with SOL, BTC, ETH, mSOL, stSOL, daoSOL, RAY, SRM, and FTT deposits. Users can also earn yield on collateral deposits, even if they are borrowing USDH against the collateral. 
  • Users can also earn protocol rewards by staking HBB, the native governance token of the protocol. Users staking HBB on Hubble will earn USDH rewards for participating in the protocol. Rewards are distributed in proportion to the percentage of the HBB staking pool that a user's deposit constitutes. Rewards come from the minting fees from the borrowing activities of the Hubble Protocol. Currently, 85% of the minting fees are distributed to HBB stakers.
  • HBB has a total supply of 100,000,000 (100 million) and a circulating supply of 13.8 million at the time of writing. 

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