Helio Protocol, an ecosystem of decentralized finance (DeFi) instruments powered by native "destablecoin" HAY, unveils new liquidity pool on the largest decentralized crypto exchange, PancakeSwap (CAKE).
New opportunities for PancakeSwap (CAKE) liquidity providers (LPs)
Helio Protocol is set to enhance the set of opportunities for its liquidity providers on PancakeSwap (CAKE), the largest DEX in the BNB Chain (BSC) ecosystem. The two platforms have entered into a partnership. Liquidity pool activation will be its first step.
❓ In our recent vote proposal, some users are curious why it’s a Stake HAY, Earn CAKE Pool— PancakeSwap 🥞 Ev3ryone's Favourite D3X (@PancakeSwap) March 30, 2023
💡 @Helio_Money has creatively decided to market-buy CAKE, and distribute to community members who stake HAY
🙅 Rest assured, no CAKE was used from our treasury or emissions https://t.co/sCQKGD2mtE
To bootstrap PancakeSwap (CAKE) liquidity pools, the Helio Protocol team injects $800,000 in liquidity: $400,000 in U.S. Dollar Tether (USDT) and $400,000 in HAY destablecoins. Besides that, Helio Protocol allocates an additional amount of liquidity ($100,000 in equivalent) for Syrup Pool, an extra stimulation program.
0.01210 CAKE will be rewarded to stakers per every BSC block; maximum stake for the pool is capped at 400 HAY.
As one more instrument of economic motivation for new and existing liquidity providers, Helio Protocol unveils a $5,000 staking raffle. Bonuses will be distributed among HAY stakers.
Liquidity pool is set to be activated on Mar.31 while rewards campaign kicks off on Apr.4.
As covered by U.Today previously, Helio Protocol is a new-gen liquidity ecosystem for the EVM-compatible blockchain. It is built around HAY, a cutting-edge "destablecoin" softly pegged to the U.S. Dollar.
Helio Protocol comes to RWA segment as partnership with Meuna kicks off
Besides expanding its PancakeSwap (CAKE) initiatives,, Helio Protocol has entered into a long-term strategic partnership with Meuna, a novel decentralized (noncustodial) exchange focused on real-world assets (RWAs). With Meuna, everyone can experiment with tokenization of real-world property and buy/sell it in a seamless and comfortable manner.
As Meuna inches closer to open beta testnet release, Helio Protocol is set to be its launch partner. Helio's unique destablecoin, HAY, will be required to mint tokenized real-world assets on Meuna's platform.
Testnet activation of the Meuna platform with HAY destablecoins is expected to take place on March 22, 2023. Helio Protocol prepared a special event to celebrate the much-anticipated testnet. In total, 5,000 HAY (the equivalent of $5,000) will be distributed between participants of the testnet incentives program.
As partnership with Meuna is of paramount importance for Helio Protocol massive adoption, more joint events are planned, as explained by two teams.