Yak Swap Partnership with Hubble Exchange

Jewel — Tue, 11 Oct 2022 22:27:24 +0000

Yak Swap Partnership with Hubble Exchange traders and makers (LPs) may swap between collaterals and settle negative hUSD balances using collateral.

TL;DR

Yak Swap has been included to provide Hubble users the greatest pricing when they make collateral swaps. Yak Swap Partnership with Hubble Exchange
To celebrate the partnership, the first 50 YAK holders to trade on Hubble from October 11th at 08:00 UTC will win a Hubble Space Cat NFT. Space Cats can be used to vote on the governance of the Hubble Exchange DAO.

Why is Hubble Exchange integrating Yak Swap?

Yak Swap, Yield Yak’s liquidity aggregator and swap tool, provides the best prices for swaps on Avalanche with the deepest liquidity coverage and zero aggregator fees. This makes Yap Swap a highly competitive aggregator, providing Hubble Exchange’s traders and makers the best execution route when they need to settle their hUSD debt with the protocol.

“It’s an honour to integrate and work with Yield Yak. They’re OGs in the Avalanche-Ecosystem and have a strong track record of building very relevant products. This integration marks the beginning of our relationship with Yield Yak and we look forward to exploring more synergies to grow the derivatives landscape on Avalanche together. Kepler, Hubble Exchange Core Contributor

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.

Web | Twitter

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.

Website | Twitter

SOURCE:

https://yieldyak.medium.com/yak-swap-and-hubble-exchange-join-forces-9b99d835acd6

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Hubble Exchange Integration on Avalanche

Jewel — Wed, 10 Aug 2022 22:22:20 +0000

Hubble Exchange Integration on Avalanche, The integration enhances what perpetuals futures traders can accomplish on an Avalanche-native protocol.

Increasing capital efficiency and collateral flexibility, Hubble Exchange released perpetual futures on Avalanche. The exchange allows traders use various tokens as collateral for perpetual futures contracts, allowing them to keep exposure to digital assets. As collateral, Hubble accepts AVAX, USDC, and hUSD. Future assets include BTC, ETH, and Avalanche. Hubble Exchange Integration on Avalanche

Hubble Exchange many features aim to give traders more options and a better experience. Cross-margining, which automatically utilizes PnL from one position to either offset losses or increase leverage in other positions, aims to increase capital efficiency. On Hubble Exchange, makers (liquidity providers) can collateralize assets while providing liquidity. They can also provide liquidity on leverage (up to 5x) and earn trading fees on leveraged liquidity. This lets makers do more with their assets on Avalanche.

Upon launch on August 8th, at 8 a.m. UTC, Hubble Exchange entered its Ignition Period of up to 24 hours, during which the protocol gathered liquidity. Now that this period has ended, trading and liquidity mining incentives have begun. The first vAMM is AVAX-PERP. Additional pairs, such as BTC-PERP and ETH-PERP, will come in the future.

The Hubble Exchange DAO will initiate vHubble incentives for traders and makers to bootstrap initial liquidity and trading in its AVAX-PERP vAMM. Traders will receive an emission of 0.2% of the total token supply over the next month, while Makers (LPs) will receive 0.4%.

Blizzard, the Avalanche Ecosystem Fund has made a strategic investment in Hubble Exchange. The project has been audited by Dedaub. For more information on Hubble Exchange, visit https://hubble.exchange. For more about vHubble incentives, read the full breakdown.

About Hubble Exchange

Hubble Exchange is a decentralized platform for trading perpetual futures on Avalanche. Utilizing Avalanche’s low fees and highly scalable infrastructure, Hubble Exchange aims to offer an Avalanche-native experience for trading perpetual futures with its multi-collateral, cross-margin design.

Website | Twitter

About Avalanche

By calculating the shortest time to finality, Avalanche is the blockchain industry’s quickest smart contracts platform. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.

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