How To: Use Hubble Protocol

Hubble Protocol is live. Here's our comprehensive guide on using the platform.

How To: Use Hubble Protocol

Hubble Protocol has introduced an innovative way to supercharge liquidity on Solana. Follow these guides to learn about how to use all the features Hubble provides.

For each of these services, you will need a Solana compatible wallet and some SOL to pay for transactions. Remember, this is not financial advice, and you should take extreme caution when participating in DeFi.

Before you follow any of these guides, make sure you do your own research and due diligence.

How To: Borrow USDH

Borrowing USDH is Hubble’s fundamental service. USDH is a censorship-resistant stablecoin that is backed by decentralized crypto assets that guarantee it will be a stablecoin that always maintains an intrinsic value of one US dollar.

Follow these steps to borrow your first USDH:

  • Navigate to the dApp and accept the Terms & Conditions to continue.
  • Connect your wallet.
  • Choose what asset you want to deposit as collateral by clicking the dropdown menu.
  • Type how much collateral you want to deposit. Press “MAX” to automatically add all of the tokens in your wallet.
  • You can deposit additional forms of collateral by clicking the “+” next to your selected asset. If you've added another asset, you will see the following:
  • Choose how much USDH you want to borrow (you can also select according to the LTV you would like to borrow at.)
  • Check that you are borrowing at a safe loan-to-value (LTV_. You can be liquidated if your LTV rises above 75%.
  • Click "Borrow" to begin the transaction.
  • Click “Approve” in your wallet to approve the borrowing transaction.
  • You will be redirected to the Dashboard page where you can see information about your loan.
  • Congratulations! You’ve borrowed USDH.
  • Once your loan is confirmed, you will be automatically redirected to the Loans page, where you are able to manage all of your current loans.

How To: Manage Your Loan

Hubble Protocol makes it easy to manage your borrowing. Using the Loans page, you can track your collateral ratio, raise your ratio by depositing additional collateral, borrow more USDH, repay USDH, and withdraw collateral.

You can also opt into a yield strategy for your deposits through this page. Follow these steps to manage your loan:

  • Navigate to the Loans page.
  • Click “Manage” on one of your loans, at which point you will enter the management screen for that loan.
  • Here you can see all the statistics of your loan, as well as the statistics for each of the collateral assets within the loan:
  • At the top, you are able to perform four actions:
  • Deposit more collateral
  • Repay USDH
  • Withdraw Collateral
  • Borrow more USDH

Your Dashboard is also where you can manage individual loans and where you will be able to select your Yield Strategy to earn APY on your collateral assets (the ability to earn yield on your collateral is coming soon.)

How To: Participate in the Stability Pool

The Stability Pool is where participants provide USDH to receive token rewards from liquidations. Hubble also rewards Stability Pool providers with HBB, the protocol’s native token.

Follow these steps to participate in the Stability Pool:

  • Navigate to the Earn page.
  • Connect your wallet. When connected, you will see two vaults:
  • USDH vault & HBB vault.
  • The USDH vault (on the left side of the page) is the protocol's Stability Pool, where you can deposit USDH to earn liquidations rewards from the protocol, as well as HBB rewards.
  • To start, click "Approve Staking", which will update the page to look as follows:
  • Click “Deposit” to open the Provide USDH tab:
  • Select how much USDH you want to provide. Click “Stake” to deposit your USDH into the Stability Pool.
  • Congratulations! You’re set to receive HBB and Liquidation rewards.

If you want to get USDH back on hand from your Stability provision, you can withdraw it by clicking “Withdraw” and selecting the amount of USDH you would like to pull from the Stability Pool.

How To: Stake HBB

HBB is Hubble’s native token. It’s awarded to participants who provide USDH to the Stability Pool. Staking HBB earns users rewards for their participation in the protocol.

Follow these steps to stake HBB:

  • Navigate to the “Earn” page.
  • The HBB Vault is on the left side of the page.
  • Connect your wallet.
  • When connected, you will see information about your current HBB deposit.
  • Click "Approve staking".
  • Click “Stake”.
  • The Stake HBB pop-up will appear.
  • Select how much of your HBB to stake.
  • Click “Stake” to stake your HBB.
  • Congrats, you are now earning USDH from the protocol fees!

You can withdraw your USDH rewards by clicking “Claim”.

How to View Loans of Other Users

All users are able to see the loans and positions of the others users on the protocol. To do so, navigate to the Leaderboard page, where you will see all the active loans on Hubble Protocol.

Here you are able to see the following statistics for each loan:

  • Collateral Assets provided
  • Amount borrowed
  • Amount deposited
  • Wallet address
  • Liquidation Ratio of Loan
  • Current LTV of Loan.

How to View Protocol Statistics

Besides having statistics on individual loans, Hubble also indicates the overall statistics of the protocol. To see the statistics, navigate to the "Stats" page.

Here you are able to see:

  • Total Value Locked (TVL) of the protocol
  • Total collateral deposited
  • Total USDH borrowed
  • Total HBB staked
  • Total USDH in the Stability Pool
  • Total rewards received on the protocol

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