Helio Protocol

The revolutionary USD Stablecoin backed by BNB

Easy Borrowing, Easy Earning

Provide BNB collateral to borrow the HAY stablecoin
Yield farm HAY on trusted partner DEXes for competitive APY
Get HELIO tokens as a reward for minting HAY

Maximum Security With
Over-Collateralized
Borrowing

HAY is a decentralized stablecoin on the BNB Chain

~
7
%

Sustainable Yield Savings

Yield protected by BNB over-collateralization

Powered by BNB Chain

HAY will create a new DeFi and stablecoin infrastructure on the BNB ecosystem

Open-sourced, Permissionless & Decentralized
Proof-of-Staked Authority (PoSA) Consensus
Established & Diverse Ecosystem
Low transaction fees
Multi-chain Scaling
For Developers & Node Operators
BNB Chain Application Sidechain (BAS)
EVM-Compatible Blockchain

Сarries the true spirit of crypto

Truly
Permissionless
No limits, No bans
Decentralized
Governance
Democratic governance by token holders

FAQ

The Helio.Money protocol, powered by the BNB chain, introduces an innovative architecture to stablecoin minting. Helio's stablecoin is called HAY, and it is over-collateralized with BNB tokens. To obtain HAY, the user will need to provide BNB collateral and borrow HAY against it. After that, HAY can be staked for long-term yield and transferred to other protocols to generate additional yield. HAY is over-collateralized, making its peg highly secure and comparable to the MakerDAO DAI token.
Here is how the price stability mechanism works :

When HAY's price is above USD 1.00:
  • The supply of HAY will have to be increased. In this scenario, HAY is at a premium, and borrowers are incentivized to borrow more HAY to sell for other assets.
  • Helio will reduce HAY farming rewards by decreasing HAY borrowing interest to reduce demand for HAY farming.
When HAY's price is below USD 1.00:
  • The supply of HAY will have to be reduced. In this scenario, HAY is at a discount, and borrowers are incentivized to purchase HAY from the market to pay back the debt.
  • Helio will increase HAY borrowing interest to decrease HAY borrowing demand, which increases HAY farming rewards.
The only crypto asset used as collateral to mint HAY is BNB. As a result, in order to borrow HAY on Helio, users must first deposit BNB. Users will be able to borrow up to 80% of the total value of the BNB deposit in HAY stablecoin because it is an over-collateralized stablecoin.
UST is a non-asset-backed algorithmic stablecoin. To keep its peg, it employs a sophisticated arbitrage mechanism. Under certain market conditions, the lack of asset backing puts algorithmic stablecoins at risk of de-pegging.

HAY, on the other hand, is a stable coin that is over-collateralized and backed by BNB reserves. That is, regardless of market conditions, there will always be enough BNB reserves to keep HAY pegged in perpetuity.
The collateral provided is worth more than enough to cover potential losses in the event of default.

For example: John deposits $100 USD in BNB as collateral on Helio. Helio allows John to borrow $80 USD in HAY stablecoin (80%). The remaining 20 USD in BNB is locked in the Helio protocol as over-collateral. John will be granted access to the $20 in BNB used as over-collateral once his HAY loan is paid off.
Amongst the various stablecoin models, it has been proven that over-collateralized stablecoins are the most sustainable. MakerDAO's DAI stablecoin is the perfect example, and HAY's architecture is similar. The main difference is that Helio is an enhanced version aiming to solve the capital efficiency of MakerDAO by allowing the collateral to generate rewards earned by the Helio protocol through BNB Liquid Staking. Helio token holders will then decide how the protocol’s revenue (borrowing interest + rewards from collateral) will be redistributed to HAY liquidity providers and stakers. This effectively enables HAY to enable yield in a sustainable way since the collateral is mechanically larger than the staked HAY coming from borrowing due to the over-collateralization nature of the Helio protocol.
At the moment, no. Nonetheless, deposit insurance is unnecessary because HAY is over-collateralized. Helio's smart contract was created by some of the industry's best developers, and it was audited by five of the world's leading smart contract auditing firms. Furthermore, Helio maintains a bug bounty program for any bugs discovered in its smart contracts. Despite the fact that Helio is the most inclusive, safe, and long-term DeFi stabecoin project on the market today, we recommend that any potential user assess their risk tolerance and conduct due diligence before investing in any crypto/DeFi project.
HAY yield comes from Helio’s revenue pool, which is derived from HAY’s borrowing interest and collateral being staked by Helio’s protocol.This effectively enables HAY to enable yield in a sustainable way since the collateral is mechanically larger than the staked HAY coming from borrowing due to the over-collateralization nature of the Helio protocol.