Solana Defi Composability Strides Forward With Coin98 Wallet…
The Hubble Protocol and Coin98 make it easy for users to participate in DeFi on Solana.
Hubble Protocol and Coin98 are working together to improve the UX and composability of Solana DeFi with new integrations and increased liquidity.
LONDON, UK, July 18, 2022 /EINPresswire.com/ — Hubble Protocol and Coin98 have announced joint integrations that will improve user experience for each project’s users and the Solana community. Both protocols focus on building decentralized finance (DeFi) products and services.
The Coin98 wallet, which can be used to interact with multiple blockchains, will be integrated with the Hubble protocol platform to borrow and stake USDH. This integration should help onboard thousands of users who rely on the Coin98 wallet to participate in DeFi on Solana with Hubble.
Hubble allows users to borrow USDH at an 80% loan-to-value (LTV) ratio against a basket of assets, including BTC, ETH, SOL, and liquid staking tokens like stSOL, mSOL, and daoSOL. The Hubble Protocol has helped thousands of Solana users access liquidity for their tokens by locking them into Hubble smart contracts and borrowing USDH instead of exiting their positions in those tokens.
Additionally, Saros Finance, a decentralized exchange (DEX) built by Coin98 Labs, will begin facilitating trading in Hubble Protocol assets such as USDH and HBB. Users who provide liquidity for HBB and USDH pairs on Saros will be able to earn fees and rewards for their contributions as Liquidity Providers (LP) on the Futures DEX.
Coin98 and Hubble Protocol share similar goals to increase DeFi offerings on Solana, the world’s fastest blockchain network with approximately $3 billion in total value locked (TVL) at the time of writing. The ability of both projects to integrate their assets and applications highlights the composability of building on a scalable layer 1 blockchain like Solana.
A wide range of users who rely on Coin98 for their crypto needs will be able to deposit tokens on Hubble and borrow USDH using the Coin98 wallet. Users can then further their participation in decentralized finance by depositing USDH or trading for HBB on Saros, the latest DeFi project released by Coin98 Labs.
The expansion and growth of the DeFi community depends on the protocols continuing to create new products and integrations through the current bear market. Coin98 and Hubble are showing their commitment to helping the DeFi community on Solana grow into the future with their latest joint venture.
Coin98 is an all-in-one DeFi platform that aims to meet untapped industry demand and become a gateway connecting TradFi users to all DeFi services across multiple blockchains. It accomplishes this mission through a full suite of products, including Coin98 Wallet, Coin98 Exchange, and Space Gate (cross-chain bridge).
About the Hubble Protocol
The Hubble Protocol allows users to borrow USDH against their collateral deposits at a capital-efficient 80% LTV. USDH can be used for anything users would want to do in DeFi, including taking positions in other tokens, providing liquidity, borrowing, and lending. As Hubble continues to grow within the Solana ecosystem, more users and projects are integrating USDH for its peg stability and censorship resistance.
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