HYDT Protocol Overview
What is HYDT Protocol?
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 audited by Cyberscope.
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 : 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 : 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.
Quick Links
Learn about HYDT Stablecoin Staking
Learn about HYDT Peg Mechanism
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