After Launch: What To Do With USDH And HBB

USDH and HBB will have various uses across the Solana blockchain. From launch, you can deposit USDH into Liquidity Pools on Mercurial and Saber, and deposit HBB into LPs Orca.

Hubble Protocol went live on the Solana Mainnet on Monday, January 31st at 8 PM UTC.

With this launch, users are able to mint and deposit USDH, and they can stake their HBB to begin earning rewards.

In a past article, we’ve provided a step-by-step guide on How To: Use Hubble, and it includes instructions on how to:

  • Borrow USDH
  • Stake HBB
  • Deposit USDH in the Stability Pool

Now that USDH is entering the greater Solana ecosystem, we’d like to make it easier for everyone to participate in some of our tokens’ first use cases by creating more step-by-step guides for:

  • Providing HBB LP on Orca
  • Providing USDH LP on Saber
  • Swapping USDH via Saber
  • Providing USDH LP on Mercurial

With this guide, users can start earning yield from participating in decentralized finance (DeFi) with USDH immediately by following these easy steps.

How to Deposit Liquidity Pairs on Orca

Orca is the first decentralized exchange (DEX) on Solana where users can swap their tokens for HBB. By helping facilitate swaps for HBB, users earn fees as well as ORCA rewards with HBB rewards, for a limited time.

This guide will explain how to begin providing liquidity as well as how to maximize your rewards with a few clicks. To start:

  • Go to Orca's "All Pools" page.
  • Find HBB quickly by typing “HBB” into the search bar at the top of the screen.

Note that the pictured APY and rewards will vary over time as more liquidity enters the pool, volume begins to increase or decrease, and the status of HBB rewards changes.

  • To begin providing liquidity, begin by clicking “Deposit.”
  • This pop-up will appear:
  • Check the box to verify that you understand the risks associated with providing liquidity.
  • Then, add equal values of HBB and USDC to each field. Orca will adjust the number of tokens in each box so the value of HBB matches the value of USDC.
  • After that, click “Deposit” (you may have to scroll down to find the button on your screen), and approve the transaction in your wallet.
  • You’re set to receive fees from swaps as well as ORCA rewards!
  • Now, in order to receive the fully advertised APY, navigate to the “Double Dip” page and opt into receiving HBB rewards on top of ORCA rewards.
  • TIP: There is no search bar on this page, so you can easily find HBB by pressing “Ctrl + F” on Windows computers or “Command + F” on a Mac to search for HBB. You can also scroll down the page and hunt for HBB!
  • Click “Double-dip” and approve the transaction in your wallet. You should see this pop-up:
  • Finished! You are now earning the maximum advertised APY for providing liquidity for HBB on Orca.

How to Deposit Liquidity Pairs on Saber

Saber is a DEX building deep liquidity for stablecoin pairs on Solana. It also happens to be partners with Hubble Protocol!

By depositing USDH on Saber, users can help reduce price slippage and increase the efficiency of swapping between stable pairs while earning fees and rewards for their participation.

Follow these simple steps to begin providing liquidity pairs for USDH:

  • Navigate to the USDH-USDC pool page on Saber.
  • Add equal values into each field for USDH and USDC.
  • Click “Deposit.”
  • Review your deposit and click “Confirm Deposit.”
  • Approve the transaction in your wallet.
  • You have deposited liquidity and can now earn fees from swaps!
  • To earn additional rewards, click “Farm SBR.”
  • You can deposit all of your LP tokens by clicking on the amount.
  • Then, click “Deposit.”
  • Approve the transaction in your wallet.
  • You can now see your deposit and rewards.
  • The amount of SBR rewards given to each staked pair is decided by the Saber community. You can vote for higher reward gauges for USDH pairs here.

Getting HBB and SBR Rewards Through Quarry

Staking Saber LP tokens on Quarry will earn users rewards in both HBB and SBR. It takes just one extra step to begin staking on Quarry.

Begin by navigating to the right page for your USDH LP on Quarry: USDH-USDC. Near the bottom of the page, find the window for depositing Saber LP.

Once Saber LP tokens have been deposited on Quarry, rewards will begin accumulating. They can be withdrawn at any time.

How to Swap USDH via Saber

Sometimes, a protocol may offer higher rewards for pairings or deposits made with a certain stablecoin, and users may want to exchange one stablecoin for another to chase these yields.

For example, Orca currently offers bonus rewards for pairing HBB with USDC (see above). This means that users who hold USDT or another stablecoin will need to swap for USDC in order to earn maximum yield.

Saber is a great way to efficiently and cost-effectively swap stablecoins in the Solana ecosystem. Follow these steps for swapping into or out of your USDH:

  • Navigate to the Swap page on Saber.
  • To swap USDH into another stablecoin, click the top dropdown box that displays USDC by default.
  • Select USDH. If you have USDH, it will appear at the top of the list.
  • Then, choose what stablecoin you want by clicking on the bottom dropdown box.
  • You can swap your entire USDH balance by clicking the number. Otherwise, you can enter how much USDH you want to swap.
  • Click “Review” and review your transaction.
  • Click “Confirm Swap.”
  • Approve the transaction in your wallet.
  • You have now successfully swapped your USDH!

How to Deposit Liquidity on Mercurial Finance

Mercurial Finance has deployed a USDH-3Pool that pairs USDH with USDC and USDT. Users can deposit any combination of these tokens into the 3Pool, or they can deposit them individually. Withdrawals can be made in a combination of tokens or individually, as well.

Enter how much you would like to deposit into the 3Pool for each token.

Click "Deposit" and approve the transaction in your wallet.

There is no need to stake an LP token to begin earning additional HBB and MER rewards. Token rewards are automatically calculated and available for withdraw on a daily basis from the Rewards page.

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