# 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](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/contract-details/audit).

These are the key unique features of HYDT protocol: 

1. Fully decentralized and automated mint/redeem process in case of a depegging event 
2. Fully transparent collateral held in BNB
3. Flexible and durable soft peg mechanism 
4. Up to 30% APY fixed return on stablecoin Staking, plus additional governance token farming reward
5. Resistance to bank run events

High Yield Dollar Protocol has 2 tokens, HYDT and HYGT.

[**HYDT** ](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/tokenomics/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**](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/tokenomics/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**](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/products/stake-hydt)

[**Learn about HYDT Peg Mechanism**](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/how-it-works#how-hydt-stablecoin-maintains-1-1-peg-against-usd)

[**Learn about Affiliate Program**](https://hydtprotocol-documents.gitbook.io/hydt-protocol-document/affiliate-program/affiliate-program)

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