Hubble Protocol has added Lido Finance's stSOL to the basket of tokens users can deposit to borrow USDH. It's a huge addition to the list of tokens whitelisted for borrowing on Hubble, so we're making it an event you won't want to miss.
If you borrow USDH using stSOL as collateral over the next two months, you can earn a share of 10,000 LDO!
Hubble and Lido are ramping up our partnership efforts big time. The stSOL integration will allow users to borrow USDH against their liquid staking tokens to further expand their liquidity and their APY potential, and we'll be making that APY ever so sweet with a huge stack of LDO.
How to Earn Additional APY Borrowing USDH on Hubble with Lido
Users who meet the criteria for borrowing USDH against Lido assets on Hubble will share a prize pool of 150 LDO rewards a day. The rewards will be distributed in proportion to the amount of USDH borrowed during the rewards eligibility period.
There will be 150 LDO a day up for grabs for a two-month period. In total, users will be sharing a rewards pool of 10,000 LDO tokens. In order to participate in the LDO boost to receive rewards, users must:
- Maintain a loan with at least 40% LTV.
- Ensure that the loan's collateral is at least 40% stSOL.
LDO rewards will accrue on Hubble Protocol and can be claimed in-app at the end of each month.
Hubble and Lido Team Up to Improve the DeFi User Experience on Solana
Users on Hubble and Lido are usually looking for a similar kind of optimization in the way they participate in decentralized finance (DeFi). Both protocols let users access the liquidity of their SOL tokens without selling them, and using Hubble and Lido in tandem synergizes the opportunities to yield while holding SOL.
On Hubble, users can borrow USDH against SOL deposits in order to hold their SOL long-term and also have stablecoins available for DeFi yield opportunities. On Lido, users deposit their SOL in return for stSOL, which earns a consistent yield from Solana's Proof of Stake (PoS) staking rewards at the same time it can be used in DeFi.
Putting Hubble and Lido together: borrowing USDH with stSOL is a huge way to double up exposure to the Solana DeFi ecosystem and earn APY. While stSOL accrues Solana's staking APY, it can be deposited on Hubble and used as collateral to do tons of things in DeFi.
Earn Rewards for Borrowing USDH with Lido's stSOL
The longer a user holds stSOL, the longer their SOL position becomes. So, if you're bullish on Solana's future as a composable Layer 1 blockchain, stSOL is a great way to earn additional SOL while holding.
It gets even better for users who deposit their stSOL on Hubble. For two months, when you borrow USDH to access the liquidity in your stSOL–without having to sell–you can earn LDO for participating in DeFi with Lido's liquid staking tokens.
Lido is one of the biggest names in DeFi, and they are responsible for helping users stake billions of dollars in tokens. LDO rewards are the kind of tokens backing a major project working to help build the future of blockchain technology.
This isn't financial advice, but the sooner you borrow USDH against stSOL, the sooner you'll increase your position in a great project's tokens.
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