HYDT Protocol Overview
Last updated
Last updated
HYDT Protocol is a BNB chain-based stable coin Staking project that aims to provide high returns for HYDT (High Yield Dollar Stable Token) holders while maintaining a 1:1 peg against the US dollar.
The protocol has launched initially on Oct 9 2023, users are able to mint HYDT stablecoin and make staking/providing liquidity on PSC.
From Nov 9 2023, governance token farming has activated and user is getting boosted APY.
HYDT Protocol is .
These are the key unique features of HYDT protocol:
Fully decentralized and automated mint/redeem process in case of a depegging event
Fully transparent collateral held in BNB
Flexible and durable soft peg mechanism
Up to 30% APY fixed return on stablecoin Staking, plus additional governance token farming reward
Resistance to bank run events
High Yield Dollar Protocol has 2 tokens, HYDT and HYGT.
: HYDT is protocol's stablecoin, and it can be staked for up to 30% base APY in protocol's Stake HYDT feature. HYDT is minted/redeemed automatically by the contract to keep the price close to 1 USD per HYDT.
: HYGT is protocol's governance token, will be used for voting and token buy-back from protocol revenue in the future. Also reward for farming in Stake HYDT and Farm feature will be paid in HYGT.