Hubble on Solend, Hiring, Ending Recovery Mode, and Your Opinions

Hubble on Solend, Hiring, Ending Recovery Mode, and Your Opinions
Hubble on Solend, Hiring, Ending Recovery Mode, and Your Opinions.

Welcome to another edition of The Hubble Post, your weekly catch-up on Hubble Protocol news and updates. There's always a lot going on, and we want to keep you as informed as possible!

Here's what you may have missed this week:

Solend Added USDH to New Stable Pool and Hosted Hubble for AMA

Solend, the borrow/lend protocol with one of the highest TVLs on Solana, has added USDH to its stablecoin pool. You can now earn APY lending USDH as well as score some HBB for borrowing.

Guess who noticed?

Check out the AMA between Solend and Hubble:

Direct AMA link to listen: https://twitter.com/i/spaces/1lDGLLjpoQvGm?s=20

We're Hiring! The Hubble Team Continues to Grow

Hubble Protocol is gearing up to become one of the major players in DeFi. Of course, that's not just going to happen overnight, and we need a stellar team to help make USDH one of the most recognized stablecoins on Solana and beyond.

We have several open positions that we're looking to fill ASAP, so if you or someone you know is looking to explore the depths of DeFi on Solana with a dedicated team and an ambitious roadmap, give us a shout.

Say Goodbye to Recovery Mode

*NB: Recovery Mode will be disabled on April 18th.

We never used it, but Recovery Mode made sure Hubble remained solvent while offering a generous 90.9% LTV. However, it didn't sit well with a lot of our users, so we are bidding farewell to Recovery Mode.

Recovery mode made sure the System LTV remained below 66.6% at all times, and it would do this by partially liquidating some users. As the diagram below points out, it could also be unfair to users who borrowed below 90.9% LTV.

How recovery mode could unfairly affect some users.

Instead of having a Recovery Mode, Hubble will reset borrowing LTV to 75% for all users and current collateral types. Users who are currently borrowing USDH will keep their 90.9% LTV on borrowing until they interact with the protocol again, and any changes made to current users' positions will require accepting these new terms.

You can read more about the changes to Recovery Mode here:

We're Dying to Have a Chat With You

Hubble Protocol wants to hear your feedback! If you've read this far through The Hubble Post, then you've heard enough of what we have to say...now, it's your turn.

Tell us what you think!

How do you use Hubble? Why? What can we do for you?

Open a support ticket on Discord and mention that you'd like to have a one-on-one chat with someone from the team, and we'll set up a time to talk.

Keep in Touch

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