Note: This article is not financial advice. Hubble Protocol does not endorse any tokens or platforms mentioned in this article.
- Users can transfer their balances to a new wallet with one click.
- This update makes it easier for users to rotate wallets for safety.
- The feature originated as a community request.
The recent wallet exploit was a wake-up call for the Solana community. For several hours, thousands of users watched their tokens disappear after a wallet leaked their private keys, and, at the time, no one knew why it was happening.
What quickly became apparent was that users who practiced good wallet hygiene were unaffected by the hack.
Some DeFi security best practices include using a hardware wallet for storing private keys in conjunction with a hot wallet for interacting with decentralized finance (DeFi) protocols. Users can take this further by rotating wallets at regular intervals (even hardware wallets) to ensure they start with a clean slate.
Hubble Just Made It Easier Than Ever to Rotate Wallets
Hubble Protocol has made it incredibly simple for users to transfer the ownership of their accounts between wallets. Now, users don't have to close their positions, send tokens to a new wallet, and then open their positions again with the new wallet.
All users need to do to get started is click a button, paste their new address, and finalize the transfer of their loan and funds to another wallet.
Users can transfer their USDH loans and their USDH stake in the Stability Vault from their current wallet to another wallet address with a different private key in less than a minute.
To begin, navigate to the Loans page and click on the "More" button on the right side of the screen. Then, click "Transfer loan." Users will see a pop-up asking for the address where they want to send ownership of this account.
Please note: Users cannot reverse this transaction once it goes through, so double-check the loan is sent to the correct address! A confirmation pop-up will confirm the loan has been successfully transferred.
From User Request to Delivery in Under 48 Hours
Hubble Protocol is dedicated to creating a superior user experience for everyone who borrows USDH. Since launch, the protocol has been implementing "quality of life" updates, and many of these updates have originated from conversations with users on Discord!
The one-click transfer feature is just another one of those updates requested from the community shortly after the wallet exploit ramped down. It's a feature the protocol began tackling immediately, so users could rotate their wallets quickly and efficiently for increased security and peace of mind.
All of Hubble's users are welcome to join the Hubble community on Discord, and let the protocol know what other features they'd like to see added to the platform!
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