Eversol Partnership with Hubble Protocol

Published on: 17.09.2022
Eversol Partnership with Hubble Protocol

Eversol, Everstake’s staking pool on Solana, announced its partnership with Hubble Protocol, a decentralized finance and stablecoin project on Solana. 

Eversol announced its partnership with Hubble Protocol to boost the decentralization of Solana.

The focus of Eversol and Hubble’s partnership is to streamline the user experience and empower individuals. By providing a hassle-free method for staking SOL, all while boosting the Solana ecosystem.

What is the Eversol Stake Pool?

The core idea of Eversol is to support Solana-based initiatives by allocating a fraction of pool earnings to the Stake Pools Treasury. Delegating to Eversol allows users to earn profits while supporting exciting projects on Solana, as well as receive extra income from DeFi due to Eversol’s partnerships with various liquidity providers.

Staking with the Eversol stake pool has unique benefits for delegators over staking directly to validators:

  • Contribute to Solana’s ecosystem growth.
  • Enjoy a streamlined staking experience.
  • Obtain instant liquidity for staked SOL.
  • Explore integration with a partner DeFi network.
  • Take advantage of the additional monetary security by using an automatic delegation approach.

Stake pools on Solana allow users to delegate SOL to several validators relying on the delegation scheme rather than a solitary validator.

What’s more, Eversol’s stake pool helps delegators to get leverage against any particular validator collapsing due to performance or other issues.

A Peek at the Hubble Protocol

Hubble is a borrowing protocol that allows long-term crypto asset holders to release liquidity, maximize capital efficiency, and earn income simultaneously. It enables the creation of USDH through a variety of collateral and repayment options at any time.

The Hubble Protocol allows users to borrow USDH, a stablecoin, to amplify their holdings and partake in decentralized finance (DeFi). However, unlike other pool-to-pool lending protocols, Hubble enables borrowing by utilizing the entire issuance capacity of its token, USDH, rather than relying on the supply of lenders.

The protocol was built to provide consumers with the ultimate and most reliable borrowing experience. You can always collect your collateral if you reimburse your USDH mortgage, and you may also retrieve your USDH from the USDH Vault at any moment.

Ultimately, rather than selling the tokens, anyone could use Hubble to deposit them as collateral and leverage an interest-free USDH loan to reinvest in a range of other assets. It’s ideal for those who want to keep their primary crypto bundle intact while also taking advantage of other exciting market opportunities.

But the essential thing to comprehend about Hubble is that when individuals deposit funds into the protocol’s smart contracts, those assets cannot be deemed unrecoverable due to the actions of others. It is not, however, the case for the majority of centralized and decentralized lending services.

Hubble’s primary characteristics are as follows:

  • Collateral may be made up of multiple assets.
  • Borrowings bear no interest.
  • The loan-to-value (LTV) is up to 90.9%, and the leverage is up to 11x.
  • Deposits generate a reward.
  • Hubble (HBB) shareholders get benefits.
  • A no-cost option is available.

Why USDH<>eSOL Make a Power Pair

The prime objective of Eversol and Hubble’s partnership is to simplify user experience and empower users with a hassle-free algorithm for staking SOL. In fact, leveraging the USDH>eSOL pair enables investors to purchase SOL tokens that have already been staked and thus generate rewards almost immediately. Eversol’s eSOL token may be utilized across collaborating DeFi protocols for trading, exchanging, and lending money to maximize profitability.

In short, this duo streamlines the SOL staking algorithm, allowing users to earn rewards hassle-free. Anyone can obtain staked SOL tokens using the USDH>eSOL pair and receive rewards almost instantly. Below are some fundamental advantages:

  • Users who utilize borrowed eSOL in DeFi potentially improve lender revenues.
  • Users can convert their eSOL to USDH anytime without waiting for the epoch to conclude.
  • Users can also immediately withdraw their staked Solana tokens. For instance, numerous liquid pools impose immediate-unstake fees at substantial rates. All of this requires an entire epoch to suspend your SOL delegation for about two or four days, and users may not withdraw their tokens until it is completed. This includes their initial stakes and any incentives users have received.
  • Users can quickly unstake their staked SOL using the USDH>eSOL combo.

An Easy-to-Manage Staking Solution on Solana by Eversol & Hubble

Eversol and Hubble strive to shape the future of DeFi 2.0 and far beyond. This approach starts with the development that encourages innovation and endeavors to assure that those who engage in DeFi obtain the highest profits possible.

Indeed, Hubble Protocol scales decentralization in the Solana network. It maximizes user portfolio yields—deposited crypto continues to generate the highest possible return. Users may also use and stake USDH across the Solana ecosystem, earn $HBB tokens and liquidate yields.

What’s more, Eversol facilitates and conveys decentralization inside the Solana ecosystem by distributing user stakes between several validators according to a particular distribution strategy. Individuals stake not only for a specific validator but also for several validators, spreading liability if their validator is overdue. Thus, Eversol maintains a substantial percentage of validators and selects the most lucrative niches for its users to maximize staking rewards.

Mark Hull, Head of Growth at Hubble Protocol, said, “Hubble is excited to partner with Eversol. Hubble fully supports Eversol’s efforts to drive Solana’s decentralization forward with liquid staking through eSOL. By pairing up USDH with eSOL, we are able to support the liquidity of and increased DeFi use cases for eSOL. We look forward to working with the Eversol team on this and more in Solana DeFi.”

About Hubble

Hubble protocol allows users to take interest-free loans against multiple crypto assets. Hubble works with USDH, Hubble’s decentralized stablecoin.

Website | Twitter

About Eversole

Eversol is a Solana staking pool launched by one of the largest validators on Solana – Everstake Company.

Website | Twitter

SOURCE

https://everstake.one/blog/how-eversol-and-hubble-boost-solana-decentralization

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