1/ Today, we are announcing our vision for Hubble 2.0 Hubble will be a fully autonomous, fully immutable CDP stablecoin protocol, with a wide range of collateral assets, automated $HBB buy-backs, more robust peg mechanisms, & more Here is an early look: medium.com/@hubbleprotocol/i…

Due to increased demand, and to maintain the peg alongside current stablecoin rates, the $USDH Stability Fee has been raised from 10% to 12.5%

The first stage of Hubble 2.0 plans will be revealed this week - introducing brand new mechanics behind $USDH Keep your eyes peeled and join the Discord for alpha: bit.ly/HubbleDiscord

USDH is live with 5x points

Due to increased demand, and to maintain the peg alongside current stablecoin rates, the $USDH Stability Fee has been raised from 7.5% to 10%

Due to increased demand, and to maintain the peg alongside current stablecoin rates, the $USDH Stability Fee has been raised from 5% to 7.5%

10/ This is our initial vision for Hubble 2.0. We want as much input from as many contributors in our ecosystem as possible. A truly decentralized, autonomous CDP protocol is a core primitive for any DeFi ecosystem - we want your help in building it: bit.ly/HubbleDiscord

9/ So, what happens to $HBB? Besides being used to bid on the bi-weekly fee pot via Dutch auction, $HBB holders will be able to vote on: - $HBB grants for builders building on Hubble 2.0 / with $USDH - $HBB gauges for allocations to $USDH products across Solana DeFi

Boom

Due to increased demand, and to maintain the peg alongside current stablecoin rates, the $USDH Stability Fee has been raised from 2.5% to 5%

5/ All fees generated in 2.0 will be used to buy back and burn $HBB, and deepen $USDH - $USDC liquidity The result is a fully deflationary governance token, and a permanently increasing USDH-USDC LP - forever This will be achieved via a Dutch auction on a bi-weekly basis:

2/ Hubble 2.0 reflects the key learnings we've taken over the past 2 years of building USDH. In short, the vision for 2.0 is to be the definitive CDP stablecoin protocol on Solana Key pillars of the 2.0 architecture: - Autonomy - Sustainability - Decentralization - Immutability

7/ All interest in 2.0 will be charged in the collateral assets, as opposed to $USDH This prevents ‘pointless’ USDH debt building up in loans, which cannot be realized by the protocol until debts are repaid

4/ For a protocol to be sustainable in the long run, it needs to generate fees. Hubble 2.0 significantly adds to existing fee sources: - Loan origination fees - Interest rates - Dynamic interest rates for yield-bearing collateral (e.g. cUSDC or kUSDC-USDT) - Liquidation rewards

6/ Every 2 weeks the total fee pot will be put up for auction, and users have to bid HBB & USDC-USDH LP tokens to win The amount of HBB to buy the fees will start at 100M (max supply) and decrease until market equilibrium is met. This process is then repeated for the LP auction.

3/ Hubble 2.0 will introduce autonomous interest rates. USDH below peg: Interest rates will be introduced and will scale programmatically over a predictable & pre-defined schedule USDH above peg: Users can loop yield-bearing stablecoin products on Kamino to flatten the arb

8/ Finally, Hubble 2.0 will be fully open source and, in time, fully immutable Governance voters or code contributors will not be able to freeze USDH or add unpredictable collateral types. The mechanisms will be pre-defined such that it can truly be seen as decentralized money.

$USDH is issued by @HubbleProtocol. It’s minted organically when users don’t want to sell their crypto and want to maintain exposure to the market. #HODL crypto ➡️ Borrow $USDH 2/

At launch, max-LTV was 90.9% for all Hubble loans However, if System LTV ever went >66.6% = Recovery Mode activated This meant: - USDH always had at least 150% crypto-backing - There was $1.50 for every USDH It also meant: - Users with LTVs >66.6% could get liquidated [2/10]