LONDON, UK / ACCESSWIRE / January 24, 2022 / Hubble Protocol has partnered with the liquid staking protocol Marinade Finance and the decentralized stablecoin exchange Saber Labs. The alliance of these Solana projects will further improve the user experience of Solana's DeFi community.
On January 28th, Hubble Protocol will launch USDH, a censorship-resistant and crypto-backed stablecoin. Users on Hubble can borrow USDH for up to 90.9% LTV against multiple crypto assets with zero-interest and no maturity dates due. Users can opt into yield strategies to increase their token holdings while those tokens are used as collateral to borrow USDH.
At time of launch, Hubble will accept the Solana liquid staking token issued by Marinade, mSOL, and Saber's SBR token as collateral for USDH. Additionally, Hubble will integrate Marinade's staking services to facilitate the yield strategy for users who deposit SOL as collateral for minting USDH.
According to Sebastian de Castro, Marinade's Community Lead, "Marinade is happy to support Hubble's introduction to the Solana markets. The creation of forward thinking DeFi platforms is powering this ecosystem and we, at Marinade, believe that Hubble's introduction of zero-interest loans is an interesting tool to further open possibilities. By integrating mSOL, the main decentralizing factor on Solana, right from launch, Hubble displays its commitment to build a more secure and censorship resistant Solana alongside Marinade."
In a statement from Ian Macalinao, Saber's Co-Founder noted the importance of USDH's entry to the Solana market, "We're excited for Hubble to join the Ship Capital family. Due to its redemption mechanism, Hubble is an ideal building block for us to build a vibrant ecosystem of products on top of. We foresee USDH becoming the primary censorship-resistant stablecoin native to Solana, and we will work closely with the Hubble team to make it happen."
Marius Ciubotariu, the Project lead of Hubble Protocol, said, "Hubble is building an important piece of the Solana ecosystem through its fully decentralized, censorship-resistant stablecoin. We're excited to see how Saber can help facilitate USDH's growth as a pillar of Solana DeFi as we work with teams like Marinade to further secure the Solana ecosystem through services that increase decentralization and liquidity for the network and its users."
About Hubble Protocol
Hubble Protocol plans multiple phases of development as the project works to expand the number of DeFi services on Solana. Hubble's first phase centers on zero-interest multi-asset borrowing and the minting of USDH, a Solana-native censorship-resistant stablecoin.
More information about Hubble Protocol: Website, Blog, Twitter, Telegram, Discord
About Marinade Finance
Marinade Finance is one of the largest projects on Solana as measured by total value locked (TVL). Marinade provides liquid staking solutions with their token, mSOL. By trading their SOL for mSOL, users can help secure the Solana network through Proof of Stake (PoS) staking without having to lose access to their tokens while staking.
More information about Marinade Finance: Website, Blog, Twitter, Discord
About Saber Labs
Saber launched on Solana as one of the network's first decentralized applications (dApps). Saber's decentralized exchange (DEX) facilitates cross-chain swaps between stable assets, a service that has shown tremendous value and importance for DeFi over the last year.
More information about Saber Labs: Website, Blog, Twitter, Discord
Press Contacts
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MarketAcross PR
SOURCE: Hubble
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