What is Hubble?
Hubble Exchange is a multi-collateral Perpetual Futures Exchange. Traders and Makers can add assets such as AVAX and ETH as collateral for their positions. The PnL from these positions is reflected in Hubble Exchange’s unit of account: hUSD.
When a position/account is profitable, users have a positive hUSD balance. However, when the market moves against their account/position, users experience a negative hUSD balance. A negative hUSD balance prevents users from withdrawing their collateralized assets, until the hUSD debt is settled.
In the past, traders had to deposit fresh USDC to Hubble Exchange to mint hUSD in order to clear their hUSD debt. With the implementation of this integration with Yak Swap, traders and makers are enabled to settle their hUSD debt by selling the collateral that is already deposited within Hubble Exchange to clear their debt, whilst getting the lowest slippage and best prices on Avalanche.
On-Chain invitation to Yield Yak Community to join the Hubble Exchange DAO
The Hubble Exchange DAO would like to take this opportunity to invite YAK holders to join the Hubble Exchange DAO. The first 50 will be eligible to claim their Hubble Space Cat — an NFT used to govern the Hubble Exchange DAO.
Rules
Winners will be the first 50 users who have:
- Held at least 0.25 YAK (in any form) at the time of the snapshot taken on October 3, 2022
- Make a Trade on Hubble Exchange
Deadline to complete is November 10, 2022. Winners will be able to claim their HSC on spacecats.hubble.exchange.
Follow Hubble and Yield Yak on Twitter for updates on when HSCs are ready to be claimed for winners.
You must claim your HSC before the end of 2022.
About Yield Yak
Yield Yak builds tools for DeFi users on Avalanche. Yield Yak Farms auto-compounds rewards for you. Yak Swap finds the best price execution for dex trades. yyAVAX is Avalanche’s highest yielding liquid staking token.
About Hubble Exchange
Hubble Exchange is a decentralised platform for trading perpetual futures on Avalanche. Utilising Avalanche’s low fees and highly scalable infrastructure, Hubble aims to offer an Avalanche-native experience for trading perpetual futures with its multi-collateral, cross-margin design.
SOURCE:
https://yieldyak.medium.com/yak-swap-and-hubble-exchange-join-forces-9b99d835acd6
