Hundred Finance now live on Olympus Pro

Published on: 20.01.2022

Cryptocurrency users are now able to purchase HND at a discounted rate in exchange for Beethoven X’s HND-USDC-FTM tokens on Fantom. This is scheduled to be followed shortly by bonds minted from DODO’s HND-ETH liquidity tokens on Arbitrum.

The Olympus Pro Bond Program assists in bringing about:

A Significant Reduction in Sell Pressure: Protocol-owned liquidity reduces the impact of mercenary liquidity providers carrying out short-term farming practices. No longer competing solely with other LPs, the sell pressure of these actors is reduced and the ability of a protocol to expand organically increased.
Absorption of Impermanent Loss (IL): The success of a protocol inevitably causes price appreciation in its native token, potentially leading to significant impermanent loss for liquidity providers. Protocol-held liquidity shifts IL to the largest holder of the native token, the protocol itself.
Goal Alignment between Protocol and Hodlers: As the protocol acquires more permanently locked liquidity, the liquidity pools can support larger trades and achieve greater price stability when large sells occur. This better incentivizes hodlers as they no longer need to fear the removal of their ability to reduce or exit a position. This better aligns hodlers with the long-term vision of the project, encouraging them to participate in the community and contribute to its growth.
Generation of a Protocol Revenue Source: Every swap transaction in a pool contributes a fee to the liquidity providers. As liquidity is permanently locked in the project treasury, these fees provide a constant source of revenue for the protocol. Furthermore, project-owned liquidity could hypothetically be used to farm in and of itself, generating further income.

Hundred Finance x Olympus Pro Bond Program

In co-creating its own Olympus Pro bonding program, Hundred Finance has requested a bonding period of 5 days and is allocating 200,000 HND tokens to the program (100k HND per chain), with the expectation of it running for a minimum of 4 weeks. We will adjust the allocated rewards and length of the program as needed going forward.

Hundred Finance

Hundred Finance is a decentralized application (dApp) that enables the lending and borrowing of cryptocurrencies. A multi-chain protocol, it integrates with Chainlink oracles to ensure market health and stability, while specializing in providing markets for long-tail assets.