We’re excited to announce our latest partnership with Hatom, where we will empower DeFi, fast-track its mass adoption and introduce advanced liquidity protocols. This partnership between AshSwap and Hatom will improve the DEX’s present-day limitations and inconvenience for delegators and liquidity providers.
About Hatom:
Hatom is the first liquidity protocol that empowers DeFi in the MultiversX blockchain through its multiple much-needed products:
The first building block they’ve developed is an over-collateralized lending protocol with a complete governance module. They’ve also built a staking module whereby HTM token stakers receive a portion of the revenues generated by the whole ecosystem.
Hatom will also introduce a novel Liquid staking module that will unlock multiple DeFi opportunities, unlock liquidity on nodes inside the network, and provide users with access to their staked EGLD, bypassing the 10 days lockdown period.
You can check Hatom’s roadmap to discover all the other exciting products they will introduce.
Partnership
Through this partnership, we aim to provide more flexibility to users by unifying and combining our efforts to strengthen DeFi in the MultiversX Blockchain.
Hatom is developing a liquid staking module that will split the liquidity fairly among the validators, making the Blockchain even more decentralized. Our goal is to create a universal liquid staking, and for the sEGLD to be used across all the leading DeFi Apps, allowing greater interoperability within the MutiversX ecosystem, and most importantly, to prevent the liquidity from being diluted.
For instance, when using liquid staking at Hatom, users can delegate their EGLD to Hatom’s whitelisted validators to secure the network and receive a token called staked EGLD (sEGLD); it’s a reward-bearing version of EGLD, which increases in value over time to reflect the staking rewards earned by the user.
Furthermore, users can supply their sEGLD on the lending protocol to receive HsEGLD, a boosted form of sEGLD. HsEGLD value increases daily due to the user’s staking rewards and the accrued interest earned through the lending protocol. HsEGLD can also be enabled as collateral to earn even more rewards.
As all these tokens will be listed on AshSwap’s Dex and Hatom’s Lending app, users can switch between the platforms and use both protocols smoothly.
This partnership will accelerate significant token adoption, where users can access DeFi products and trade tokens on both AshSwap and Hatom protocols.
AshSwap is working on the very first Stable-swap DEX model, which is more suited for trading like-kind tokens (ex: USDC-DAI or EGLD-sEGLD). Collaborating with Hatom will provide users with an easy swap of the platform tokens (sEGLD & HsEGLD) to EGLD and vice versa, providing stakers quick access to their staked funds, thus bypassing the 10 days cooldown period.
