Helio Inks Strategic Partnership With Frax Finance and 0% Borrowing Interest

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Hello Protocol, a decentralized over-collateralized lending and liquid stacking platform has announced the introduction of a 0% borrowing interest rate for those using BNB as collateral.

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Although the protocol clarified that it is only a temporary development, it also encouraged crypto enthusiasts to explore the benefits while it lasts. Ultimately, more borrowers would mean more collateral for the platform which will eventually translate to higher liquid staking rewards 

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To those wondering how the company can effectively pull this off, Helio Protocol took to Twitter to offer a simplified explanation. 

“The advantage of Helio Protocol lies in our use of liquid staking derivatives in BNB. This allows us to earn real yield on BNB collaterals and distribute the rewards to HAY stakers & LP providers,” it said, adding that it has “the flexibility to reduce borrowing interest to 0% and still be able to incentivise HAY staking & LP provision in a sustainable manner.”

USDFI Becomes Launch Partner of Helio Protocol

In highlighting some of its important strides, the Helio Protocol announced its latest collaboration with decentralized finance (DeFi) banking protocol USDFI when it finally goes live. 

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The DeFi platform confirmed that Helio is now its foundational launch partner citing that users will be able to trade, stake and earn HAY, the native token of the latter on USDFI. In addition, HAY will also be available for borrowing and lending on the protocols of the Money Market.

Their partnership is regarded as a perfect alliance seeing that HAY is a fully decentralized stablecoin which would only be collateralized by another decentralized asset BNB. This is an entirely different case for the likes of DAI, a crypto-backed stablecoin that relies on centralized assets. 

Together, Helio Protocol and USDFI is pushing to build a crypto economy that is sustainable.

Helio Inks Strategic Partnership With Frax Finance

In the same spirit of sustaining partnership and boosting the popularity of these decentralized stablecoins, the liquid staking platform inked a strategic partnership with another DeFi protocol known as Frax Finance.

Apart from other marketing and partnership activities, the duo will jointly incentivize various HAY and FRAX liquidity pools on Wombat Exchange and Thena Fi.

Meanwhile, Frax Finance launched its borrowing and lending arm in September 2022 dubbed Fraxland. On Fraxland, users can borrow or lend assets with any token of their choice. The advances each of its partners have made over the years will be drafted as a value addition for its prospective users moving forward.

VerifiedGuardian HAY Campaign

In a bid to also drive the overall value billed for its ecosystem, the Helio Protocol have also launched the 10,000 HAY mystery box campaign. The campaign is like a reward scheme for its community, especially for its users holding the VerifiedGuardian NFT collection.

As shared with TheCoinRise, there will be a total of 215 winners, with 200 winners carting away with 20 HAY tokens each. 1 winner will go with 1000 HAY, another single winner will receive 2000 HAY while 3 winners will be rewarded with 500 HAY and 10 winners will go home with 150 HAY tokens respectively.

Participation is competitive but notably open to all.

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