Welcome to the latest edition of The Hubble Post! It's been a great week to look back on, but we're looking forward to Hubble's June Town Hall, held in a few days.
If you're reading The Hubble Post, you'll probably enjoy hanging out with the Hubble team for a fireside chat on Discord this June 8th at 4 PM UTC. Click the button below to open Discord and set a reminder for the event:
Hope to talk with you there! Now, let's look back at the highlights of the week.
Hubble Raised Maximum LTV to 80%
Users can now borrow more USDH on Hubble!
After removing Recovery Mode, we thought it would be prudent to lower the protocol's maximum LTV for borrowing from 90.9% to 75%. In addition, we wanted to make sure we had plenty of breathing room to keep USDH overcollateralized, since Recovery Mode would no longer be a mechanism ensuring the System LTV stayed below 66%.
After the Terra meltdown put Hubble through its first hardcore stress test, we looked at the data and concluded that we could safely raise the maximum LTV to 80% without any issues. A proposal to raise the LTV to 80% was added to the Hubble Forum, and after a brief discussion, it was a "no brainer" that the LTV should be raised.
Users who took loans at a 75% LTV ratio have been automatically migrated to an 80% LTV. Grandfathered loans with a 90.9% LTV remain unchanged.
The Hubble Forum Had a Successful First Two Months
The Hubble Forum was launched a little over two months ago, and it's safe to say it has become a successful resource for the community. Thirteen proposals have been initiated by the Hubble team and the Hubble community, and you can read a review of what's been happening on the forum here:
Anyone can register to join the forum and post a proposal that could shape the protocol's future. We see a lot of good ideas being discussed in the Hubble Discord, but many of them "flow downstream" as conversations switch topics and everyone joins in from different time zones.
By posting and commenting on the Hubble Forum, improvement proposals have a static place to live, and anyone can easily join or follow the discussion at their leisure. If you can't make it to a Town Hall meeting, we hope you can join us on the Hubble Forum!
Hubble and Step Finance Teamed Up for an Orca Triple-Dip Whirlpool
Step Finance provides one of the most user-friendly dashboards in all of DeFi. They make it possible to track all of your positions in one place, so you don't have to bounce from dApp to dApp checking on your APY and managing your accounts.
We're super stoked to work with Step to launch a concentrated liquidity pool on Orca with Triple-Dip Rewards distributed in HBB, STEP, and ORCA.
If you browse Orca's Whirpool page and search for USDH, you can easily find the STEP/USDH pool. Choose how you want to concentrate your liquidity and deposit USDH and STEP to start earning three tokens from awesome projects on Solana!
Until Next Time
Thanks for reading this edition of The Hubble Post! If you follow Hubble on Twitter, you'll run into some amazing APYs and updates as they happen, but always check back here for anything you might have missed.
Until next time, stay safe out there, folks!
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