Welcome to this week's edition of The Hubble Post! A lot of news comes out of a dynamic protocol like Hubble, and it's not always easy to keep up with everything that's happening with every project on your Twitter feed, so let's recap the week.
In this edition, you'll find news about:
- Hubble passing its first major stress test
- Updates to the Hubble website (New Roadmap & Team Doxxed)
- What Hubble is doing with Lido this week
- How users voted for onboarding new collateral
Hubble Passed a Huge Stress Test with Last Week's Meltdown
While LUNA was burning and the rest of the market caught fire, users were racing to repay, top up, or close their positions. A lot of users that didn't do these things when the market began drawing blood were liquidated, and Hubble saw the highest number of liquidations in its history.
It was an all-hands-on-deck situation for Hubble, since it was a critical time for making sure the protocol worked as expected. In the end, we managed to pull through with the protocol intact, solvent, and with USDH still pegged.
We wrote up a report about what happened that includes a breakdown of what happened, by the numbers, and we also held a Twitter Spaces to discuss the situation even further. You can find links to the blog post and Twitter Spaces recording below:
The Website Has an Updated Roadmap and New Team Information
A lot of requests from the community have ended up on Hubble's Roadmap. The new roadmap has been added to Hubble's landing page, and it reflects what we've achieved since its last publication as well as what we plan to achieve in the coming weeks.
Something the community has been asking for is doxxing the Hubble team to help build confidence in the project. In addition to updating the roadmap, we've added a long awaited Team Page that puts all of our beautifully rendered PFPs and contact information out there for all to see!
Hubble and Lido Launched an Incentivized Pool on Raydium
Increasing the adoption of USDH and stSOL across Solana is one of the paramount goals of our partnership with Lido Finance, one of the biggest names in DeFi today. Working towards this goal, we're both rewarding users with our governance tokens for providing liquidity on Raydium for the stSOL-USDH pair.
Accumulating LDO and HBB is quite the attractive incentive to provide liquidity for tokens from each project. Watch out, because another rewards program is in the work with another DEX coming out soon.
We'll also be adding stSOL as collateral whitelisted for minting USDH, so watch out for updates on new collateral!
Hubble's Community Participated in Unofficial Vote for New Collateral
If you're looking for news about new collateral on Hubble, look no further. A poll recently went live that asked what tokens would users like to see added to Hubble as possible collateral for USDH.
The results are in:
The dev team has put the infrastructure in place to easily allow adding new types of collateral, and now we're waiting for everything to be tested and all risks assessed before going live with new collateral types. It will be an exciting time to see the possible ways users can access USDH expand!
Until Next Week
Stay safe on your DeFi journeys, folks. Until next week, always be on the lookout for announcements on Twitter about where you can earn rewards with USDH and HBB. You never know what surprising APY might be coming up next!
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