USH, the first native stablecoin on MultiversX, easily explained. TL;DR - USH is an overcollateralized stablecoin (similar in a sense to DAI) built by Hatom Labs (@HatomProtocol), natively on the MultiversX blockchain. #USHto1 🔊 Hatom (HTM) is a leading DeFi platform offering 💧 $EGLD and $TAO liquid staking (sEGLD & sTAO) 💱 A Money Market (lending & borrowing) 💵 And, now, USH. --- TIMESTAMPS Introduction - 0:00:09 Exploring Hatom - 0:00:25 USH Isolated Pools Explained - 0:01:00 USH IP Liquidation Explained - 0:01:38 USH Arbitrage Opportunities Explained - 0:03:04 What Else Can You Do With USH - 0:04:29 Open EGLD Long Positions - 0:04:35 Buy Things With USH - 0:05:05 Provide Liquidity to USH-Related Pools - 0:05:20 Conclusion - 0:05:45 --- ## USH Staking Hub and the Isolated Pools The isolated pools are the core and heart of USH minting. So, how do the isolated pools work? Here's an example, supplying $1,000 worth of EGLD as collateral. As an overcollateralized stablecoin, the pool will always require a higher collateral deposit than the maximum possible minting amount. For EGLD, users can only mint 70% of the collateral deposit. Thus, for a $1,000 worth of EGLD deposited to the isolated pool, you could mint a maximum of $700 in USH. This, however, is super risky, and would set your minting limit to 100%. This is risky because if EGLD drops in value against the dollar, for example making your collateral worth $900, your position would be eligible for liquidation, crossing the 100% limit. In an oversimplification of the liquidation mechanism, a liquidator could repay 50% of your USH loan and take 50% plus an 8% penalty of your deposited collateral. In this example, the liquidated user would end with a position of $522 worth of EGLD as collateral. And a debt of $350 in minted USH. His minting limit would now be 95%, temporarily preventing another liquidation. It's worth noting that the liquidation wouldn't affect the USH you are securely holding in your wallet (like @xPortalApp). Just your USH minting debt with the Hatom Protocol. Another user playing safer could, for example, mint only 50% of the available seven hundred dollars for a $1,000 deposit, minting $350 worth of USH. This would have avoided liquidation for the same price drop as before, as the mint limit would increase to 55%, still far from the 100% limit that makes an account eligible for liquidation. These mechanics guarantee that 1 USH is always redeemable for 1 dollar worth of assets in the protocol, opening doors for price arbitrage. **this is an oversimplification of the liquidation mechanism. DYOR! --- ## USH Arbitrage Opportunity (1 USH = 1 USD) Once one USH is always equal to one dollar at a protocol level, traders can arbitrage the USH value in different markets, making sure it will always get back to one dollar. Let's say 1 USH is now equal $1.10 worth of EGLD in @xExchangeApp. Then, users can use the mint function to benefit from this arbitrage opportunity. Depositing EGLD as collateral in the isolated pool. After that, the user can mint USH to sell for EGLD with a premium in the xExchange LP, using this EGLD to replace the deposited collateral, or deposit more to mint more USH and continue selling with a premium until the price is back to one dollar, profiting on the difference (around 10%). The opposite is also true when, for example, 1 USH is worth $0.90 in EGLD. This arbitrage opportunity will appear when repaying USH to get EGLD back. In this case, the user can buy USH with EGLD from the xExchange liquidity pool and use these tokens to repay part of his USH position in the Hatom's isolated pool, withdrawing part of the EGLD collateral. Similar to the other operation, the user can now use this EGLD to buy more USH with a discount on the market and continue the process until the arbitrage opportunity remains, also profiting from it. **this is an oversimplification of the arbitrage mechanism. DYOR! --- ## What Can You Do With USH? Now, besides the arbitrage, here are some other ideas on things you can with USH. ### BUY MORE EGLD First, you can enjoy the 0% interest rate to open long positions on EGLD or other MultiversX tokens. For that, you can deposit EGLD or TAO to the isolated pools, mint USH, and use these dollars to buy, for example, more EGLD. If the price goes up, you can then close the position by selling EGLD for USH, repaying the isolated pool, and withdrawing the EGLD back. ### BUY THINGS WITH USH Another idea is simply using the minted USH to buy things in the MultiversX ecosystem or also in the real world. This can be an interesting idea if you don't want to sell your EGLD, for example, depositing the tokens as collateral and minting USH to use as payment. While the first idea increases the buying pressure, this one can diminish the EGLD selling pressure. Both being beneficial to MultiversX. ### PROVIDE LIQUIDITY Last but not least important, you can use the minted USH to provide liquidity in many DeFi platforms, like the USH<>EGLD liquidity pool on the xEchange, or the USH<>USCD<>USDT LP on @ash_swap. There will be other liquidity pools and farms that users will be able to stake USH and provide liquidity to the ecosystem. --- If you enjoyed the content, make sure you share it! Also, follow me for more educational content on DeFi. This is an educative content and not financial advice! You should always do your own research.

We’re pleased to share that the first phase of the USH Private Launch has wrapped up successfully. This milestone focused on deploying the Isolated Pool on Mainnet and bringing initial liquidity from various partners across the #MultiversX ecosystem. Thanks to this effort, the Isolated Protocol achieved a bootstrapped TVL of $20.41M (621.1K $EGLD). Because of the synergy between the Isolated Pool and our Liquid Staking and Lending Protocol, that amount effectively tripled, pushing the total TVL of the Hatom ecosystem from $160.22M to $221.45M. At this stage, the reported TVL does not yet include community contributions or other USH modules. The broader community will have its chance to join when we move to the Public Mainnet launch. We want to extend our sincere thanks to all the partners who supported us in this first phase of the USH Private Mainnet: @MultiversX , @iVerseVision, @lucianmincu, @Veroc_Daniel , @RosuGrigore , @UnitedStaking, @QoWattEcosystem, @foxsy_ai, @ProjectX_DAO, @ProteoDefi, @SasuRobert, @EAPESCLUB, @TheDinoVox, @TortugaStaking, @VorteXz171, @WaveNodeValid, @SmartChainCnx, @moonlorian, @OriusLLC, @valuestaking, @Rarity_market, @MiddleStaking, @autoscale_, @itheum, @ColombiaStaking, Incal, Rohan Stake, SkynetEGLDCapital. We’re also excited to announce that the second phase of the Private Mainnet launch is now underway. This phase focuses on creating multiple LPs to ensure deep liquidity for $USH on launch day, in partnership with @xExchangeApp , @ash_swap , @MultiversX , and @foxsy_ai. By rolling out several liquidity pools right from the start, we aim to stabilize $USH and allow users to trade it against various pairs immediately. This initiative is crucial for maintaining USH’s stability and will help DEXes and aggregators boost their activity and revenue. In addition, introducing these $USH LPs will pave the way for new arbitrage opportunities, driving more on-chain activity within the #MultiversX ecosystem through innovative mechanisms built around $USH. We also encourage projects to switch to stablecoin LPs, following the example of leading chains. This helps foster a fair market for their tokens and minimizes selling pressure on $EGLD. Under the current model, any token sell-off directly impacts $EGLD, much like the early days of Ethereum, when most LPs were paired with $ETH. In that spirit, $USH will launch with LPs for USH-EGLD, USH-USDT, USH-USDC, USH-HTM, USH-MEX, USH-ASH, USH-UTK, and USH-FOXSY. All of these pairs will be available from day one and ready to be farmed. Any LP Tokens received from farms can be staked immediately on Hatom to secure high yields. The third phase of the launch focuses on rolling out the remaining $USH modules and facilitators, enabling $USH minting, and unpausing the various LPs. At that point, $USH will be fully deployed, operational, and accessible to everyone. An announcement with a countdown timer will be shared beforehand, specifying the exact date and time. It’s only a matter of a few days now. As part of this launch, we’ll introduce a range of new features and initiatives: Markets The Markets section will be updated to include data on $USH and its facilitators. You’ll be able to monitor real-time parameters for each facilitator, such as collateral amounts or USH minted, directly from the dashboard. Analytics We’re developing one of the most comprehensive analytics pages within #MultiversX. It will offer detailed insights into every aspect of Hatom’s products, helping users understand and analyze a wide array of metrics and parameters across the entire protocol. Dune Integration Together with the Analytics page, we’re rolling out a @Dune integration to bring #MultiversX into one of the most popular crypto data platforms. Advanced users will be able to customize and build unique graphics and data views tailored to their needs. Governance After nearly two years of Mainnet activity, the protocol has matured, and the community is ready to help steer its direction. Shortly after $USH is launched, the Governance feature will go live, allowing community members to participate in decision-making and shape the protocol's future. Grants We will soon introduce a grants program to support projects that build on top of the Hatom Protocol. This initiative will offer both financial and technical assistance, helping developers realize their goals. The first project to benefit from this program will be @autoscale_, an innovative yield optimizer on Hatom, designed to help users capture compelling yields and easily execute complex strategies. Even before the grants program officially launches, we invite projects building on Hatom to get in touch so we can explore potential synergies and begin offering our support. We’re incredibly grateful to our community for standing by us from the start. This is only the beginning of what promises to be an exciting year!

The truth, as always, sits somewhere in the middle. We've been revisiting this case since 2023 with @gfusee33, true; I wouldn’t label it a bug, but it’s certainly frustrating that it still slows parts of autoscale development, and I am with you on this. Another truth, Autoscale’s current outage is unrelated to their request. Next truth, we already tried to meet the requirement in two separate releases (discussed many times on Discord and Slack support), so “zero follow-up” isn’t accurate. Even more, as recently as last week we confirmed we’d take another pass at it—see issue #7054: github.com/multiversx/mx-cha… Based on the current priority list, the team will dive back into the topic next week as we do in most of the times. Real builders tackle problems together, and we’ve done exactly that with @gfusee33 many times and obviously we will continue to do that, but we have to at least discuss based on truth. @autoscale_ Thanks for staying dedicated and bear with us on this as you did before. If there is dialogue there will always be solutions.

The private beta is ready for the first wave of testers 🔥 The first wave will have access today and the next wave a little later, and then we will make it public 🛠️ Our journey has just begun 🎬

3/ DeFi Track, in partnership with @EntityFinance 1st: @thedefibuilder 2nd: Savings+ by @autoscale_ 3rd: @refracto_io 4th: @turbodefi

After severals months of hard work I'm thrilled to unveil you elrond-wasm-as, my open source typescript/assemblyscript Elrond smart contract framework 🔥 It is atm only a proof of concept but let's dig into it 🧵

Récapitulatif de l'AMA TG Hatom en 🇫🇷 animée par @arno_web3 et @As_Hatom🎙️ Fin de semaine est prévue le partage d'une protocole update au sujet de $USH, incluant le plan exact et daté de sortie du token (création de LP, swap, mint possible...) @HatomProtocol a travaillé longuement les semaines passées avec à la fois les arbitrageurs, et les futurs liquidateurs du protocole pour que leurs codes et que leurs stratégies soient prêtes et efficaces dès la 1ʳᵉ minute de lancement du $USH Le $USH en lui-même est prêt depuis quelques semaines, le report récent est dû à des modifications liées au Booster V2 qui n'était pas finalisé à temps, et au travail d'audits supplémentaires Il était préférable d'attendre la finalisation du Booster V2 pour sortir tout en même temps et permettre une prise en main complète et une synergie entre ces nouvelles fonctionnalités À titre informatif, Hatom vient de dépasser la barre symbolique de 3M$ dépensés uniquement pour des audits, retrouvez le détail des audits sur l'app → paramètres → Security Avec 21 audits, cela fait d'Hatom le projet le plus audités sur MultiversX La priorité principal d'Hatom est et restera toujours la sécurité de ses utilisateurs, le protocole se doit d'être impeccable au vu de la gestion de fond qu'il assure 🏦@Pell_Network et le restaking : Hatom va collaborer avec PELL, pour intégrer le $sEGLD dans leur app de restaking Hatom envisage d'intégrer au lending protocole le futur token de restaking de Pell sous conditions : - De liquidités suffisantes pour empêcher une manipulation de marché - De sécurité (nombre d'audits requis sur les SC liés à ce token) - De gouvernance - De multisig - D'open source (condition stricte sur ce terme) Ces conditions sont imposées à PELL mais aussi à tous les tokens rejoignant le lending protocole de Hatom, comme par exemple le dernier en date $MEX de @xExchangeApp Ahmed précise donc qu'il est totalement possible de voir d'autres LST intégrer Hatom, qu'ils soient de projets concurrents ou non, s'ils remplissent ces critères Ces critères sont obligatoires et strictes car ce sont eux qui assurent la sécurité du protocole et des fonds de ses utilisateurs; Un token intégré au Lending protocole, ne respectant pas ces critères pourrait être manipulé, et engendrer un risque systémique pour le protocole entier 🚀USH Proxy, ex Hatom Pulse : USH proxy sera le produit phare d'Hatom sur son lending protocole. Ce produit a pour objectif d'offrir un rendement accru aux utilisateurs via le lending protocole, tout en rendant le plus efficient possible la liquidité déposée sur celui-ci, via une stratégie de delta neutre Delta neutre = Détenir un actif, tout en pariant sur sa baisse, pour neutraliser la position en bénéficiant de sources de rendements extérieure sur ces actifs D'après les prévisions, ce module permettra de générer des rendements en DeFi pour un lending protocole et sera ainsi un argument de choix pour venir faire travailler ses fonds sur Hatom Il a pour objectif d'être un outil de taille pour Hatom sur MultiversX et un outil clef de l'attrait d'utilisateurs sur cet écosystème via les rendements qu'il va proposer. En plus de cela, USH proxy sera aussi le porte-étendard du développement d'Hatom lors de son expansion sur d'autres écosystèmes USH Proxy a une équipe de développement complète dédié à son évolution, qui travaille dessus en full time depuis maintenant 2 mois ➕ Autres : Hatom ne prévoit pas à ce jour de lister le $HTM ou $USH sur de nouveaux exchanges centralisés, toutefois cette option est prise en compte lors de la sortie de Hatom Proxy, qui sera un produit phare, ayant le potentiel d'attirer de la liquidité de l'extérieur de l'écosystème Lors de la sortie du USH, une nouvelle campagne de communication et d'éducation sont prévues, elles seront accompagnées d'un appui "presse" Un tableau de bord @Dune est prévu, offrant du détail sur vos positions au sein du protocole, et sur le protocole et ses assets dans son ensemble En plus de cela, une nouvelle page Analytics améliorées va faire son apparition directement sur l'app de Hatom J'espère que ce résumé vous a plut ! Merci à Arno et Ahmed pour l'animation de cette AMA!

Today, we announced our end-to-end capabilities to support stablecoins, ensuring payments can be made or received using them - anytime, anywhere. Alongside proven leaders across Web3, finance and fintech, we’re empowering consumers and businesses to use stablecoins as easily as the money in their bank accounts. Here’s how: mastercard.com/news/press/20… #stablecoins #web3 #fintech #crypto

New frontier unlocked. GAxelar @MultiversX 🧑‍🚀

TIME TO SCALE UP WITH @autoscale_. SHOUT OUT TO THESE DEFI LEGENDS FOR SPONSORING ENTITY SURGE: HIGH VOLTAGE. LOOK OUT FOR AUTOSCALE’S YIELD OPTIMIZER LAUNCHING SOON. 🔥

SHOCK THE WORLD.

Le projet @xMoney_com maintenant MiCa, prévoit le lancement prochain de 3 stablecoins ! 🚨 ▫️EuroX : Stablecoins Euro ▫️USDX : Stablecoins Dollar ▫️RonX : Stablecoins Leu roumain Cette diversité de monnaies, va permettre de proposer des solutions de paiement instantanées bien plus intéressantes que Mastercard ou Visa pour les entreprises, qui paient en général 0.2 à 1.8% de frais sur chaque transaction On apprend que @xMoney_com s'étend en Amérique du sud et Afrique pour sécuriser des licences bancaires afin de proposer ces solutions de paiements ➡️Aucune mention de @MultiversX n'est faite dans cet article, nous attendrons plus de détails pour savoir où et comment sont émis ces actifs Retrouvez l'article et l'interview de @xMoneyGreg CEO de xMoney : ccn.com/education/crypto/xmo…

Hello Autoscalers Our #Testnet is just around the corner, and we’d love your input: which incentive would most motivate you to participate? - Whitelist: We’ll only be selecting 100 participants to test our Dapp. With a dedicated Discord server, we’ll maintain real interaction with you and gather feedback that’s closely aligned with your expectations. - Airdrop Due to many requests, we publicly confirm that there will be no airdrop. Our tokens are too valuable to be distributed randomly. We prefer to use them to boost your yields rather than risk dumping on the market. Please cast your vote, it’s important to us! And for the more creative among you, share your Option 3 ideas in the comments 💡

🚨 Protocol Update #11 Since day one, we chose the builder’s path, one of relentless innovation, risk, and long-term vision. This isn’t the easy route, but it’s the one that leads to real impact and lasting growth. Today, we take another major step forward, cementing recent milestones and revealing what’s next for $USH, our cross-chain expansion, and an innovative new utility unlocking $HTM full potential. USH Stability The past three weeks have been among the most demanding and enlightening in Hatom’s journey. We've witnessed firsthand how an ecosystem adapts to the launch of a new Complex DeFi primitive. The launch of $USH has had an unprecedented impact on #MultiversX on-chain activity, as shown by comparing average data from February to the weeks following $USH launch: • Weekly active accounts doubled from 70k → 140k • Total processed volume on-chain surged from $85M → $300M • Aggregators & DEX volumes grew 3.5x • Arbitrage activity saw a 10x increase during launch week • #MultiversX fee revenues have doubled on average Regarding $USH peg, it has held between $0.995 - $1.00 over the past week while becoming increasingly less reliant on redemptions. Initially stabilizing at $0.99 with the redemption threshold set at $0.995, daily redemptions peaked between 50k - 100k $USH as users took advantage of carry trades between $USDC and $USDT markets. Encouraged by this stability, we adjusted the redemption threshold back to $0.99 on March 18. The result? Only 5k $USH was redeemed in the following 24 hours, a clear sign of organic equilibrium forming and proof of our soft-peg mechanism at work. Our goal is clear: $USH must evolve toward complete organic sustainability, minimizing reliance on redemptions. This is how over-collateralized stablecoins should be built, and we’re committed to continuous monitoring, refinement, and adoption to make $USH the benchmark for decentralized stability. Expect continuous updates as we push forward. Cross-Chain Expansion For Hatom, growth isn’t optional, it’s fundamental. We’re building the DeFi engine that will power your financial future, delivering innovative, reliable passive income solutions while remaining loyal to our $HTM holders and early supporters. #MultiversX remains our home. Our foundation is here, and we’re doubling down on innovation within this ecosystem, while also bringing our secure, carefully engineered DeFi products to new chains in need of these essential services. True expansion isn't about moving away; it's about pushing boundaries further, reaching new markets eager for our DeFi primitives, and bridging liquidity throughout the broader Hatom cross-chain ecosystem. Today, we’re proud to officially announce that Hatom’s battle-tested DeFi infrastructure is going cross-chain, extending beyond #MultiversX into dynamic, high-performance ecosystems including @monad_xyz , @megaeth , and many more. The next era of DeFi expansion starts now. Regarding timelines, rest assured, the expansion has already begun. We’re currently making the necessary adaptations, aiming to move quickly and become first movers, just as we did previously on #MvX, forever changing its DeFi landscape. One unified $HTM token economy. One network of liquidity spanning multiple chains. Every expansion increases Hatom’s total addressable market, reinforces $HTM demand, and strengthens Hatom everywhere, benefiting every user across every chain. And the cherry on top? With the arrival of @0xSoulProtocol , all these protocols will instantly communicate, not only with each other but also with leading external protocols, unlocking thousands of new opportunities. Amplifying HTM’s Utility $HTM is no longer just the core of Hatom, it has evolved into an economic engine impacting the entire on-chain ecosystem. The booster has done a phenomenal job providing $HTM with continuous utility, positioning it among the most important ESDTs. However, this new feature goes beyond merely distributing protocol fee revenues as extra rewards. It addresses a significantly larger portion of rewards driven by supply, borrow, and staking. To supercharge $HTM role, we’re introducing an iteration that will allow users to convert their Supply APY and Liquid Staking rewards directly into $HTM tokens. Every user who opts in contributes directly to $HTM demand and buying pressure, creating a cascading effect that amplifies value across the entire ecosystem. Additionally, users opting to receive their Supply APY in $HTM will earn bonus rewards sourced directly from the protocol revenue, similar to what was previously offered through the Accumulator Module. How big of an impact can this have? Let's break down the revenue generated for users through Supply APY: Supply APY Rewards: - Total: $5,094,962 • EGLD: 30,623 EGLD (~$936,040) • sEGLD: 17,001 sEGLD (~$44,529) • USDC: 2,492,530 USDC (~$2,484,966) • USDT: 1,253,922 USDT (~$1,246,618) • BUSD: 65,662 BUSD (~$58,566) • wTAO: 6,506 wTAO (~$252,442) • swTAO: 1,142 swTAO (~$2,504) • BTC: 0.381 BTC (~$15,030) • ETH: 6.46 ETH (~$11,915) • HTM: 22,241 HTM (~$918) • UTK: 528,846 UTK (~$18,686) • MEX: 700,791 MEX (~$22,748) Liquid Staking Rewards: - Total: $7,257,793 • EGLD: 147,809 EGLD (~$5,559,283) • TAO: 4,022 TAO (~$1,698,510) 🔷 Combined potential buying pressure on HTM: $12,352,755 These are real figures, real rewards, and a real driver of long-term $HTM growth. Users can now choose to auto-convert their rewards into $HTM, contributing to $HTM demand, stability, and value compounding over time. This is a self-reinforcing cycle, and you decide how much you want to fuel it. USH Airdrop As shared in previous protocol updates, the airdrop distribution was always meant to be aligned with the maturity and stability of $USH. It was never a simple reward, it was a way to rewards our most loyal users and $HTM holders who had excess $HTM in the Booster, demonstrating long-term conviction in our ecosystem. To preserve this spirit and ensure that the airdrop does not introduce unnecessary selling pressure, we’ve designed a distribution strategy that’s measured, sustainable, and growth-aligned. Starting mid-April, the airdrop will be executed in 6 structured phases, with 1/6th of the total rewards distributed each month. This gradual approach ensures continued alignment with USH’s growth curve and reinforces stability as adoption expands. In a move that adds utility and yield potential from day one, we’ve decided to distribute rewards in the form of LP tokens, specifically USH/USDC LPs. The LP token represents the exact USH value a user would have received directly, but now, that value comes paired with utility. Upon receiving their LP tokens, users will be able to stake them on the @ash_swap Farm to earn farming rewards, and also stake them through the USH Staking Module on @HatomProtocol to continue earning protocol incentives. For users who prefer more flexibility, the LP can also be freely split if desired. This airdrop is more than a token transfer, it’s a commitment to sustainable growth, deepened liquidity, and rewarding those who’ve stood with us from the beginning. We’re not just giving back, we’re giving forward. The Road Ahead Market conditions may be challenging, but Hatom isn’t slowing down. We're engineering a DeFi infrastructure built for sustainability, resilience, and exponential opportunity. At the core of everything, we remain committed to powering your financial future through innovation and passive income strategies. Today’s update may be shorter, but its significance is greater than ever. This expansion marks the dawn of a new era, unlocking new communities, accessing vibrant ecosystems, and bringing unprecedented visibility to the crucial products we've carefully built over the past three years.

@axelar x @MultiversX: The Interoperability Shift 1/ Interoperability has been overlooked for too long. A lot of people still don’t understand what the integration with Axelar actually means for an ecosystem like MultiversX, which has historically been more disconnected from the broader liquidity and user base of Web3. Most EVM chains take composability for granted. For a non-EVM chain, it’s a different story.

NEW: 3 Autoscale contracts audited by Arda🛡️ Deposit USDC, EGLD or BTC into @autoscale_ vaults and enjoy a daily yield without any effort! Big congrats to the team for the long-awaited release and caring about security until the last second👌 The audit reports: arda.co/audits/autoscale

With USH live on Mainnet for almost 24 hours, it's time for an update on key metrics and the steps ahead. In less than a day, close to $7 million $USH have been minted, and over $10.4 million in liquidity has been provided across @xExchangeApp and @ash_swap, reinforcing market depth and stability. With almost $10 million worth of LP tokens deposited in the USH Staking Module, users are earning triple and even quadruple-digit APYs on their positions. While we are still working on integrating APR displays from exchanges into our front end, which will soon be visible directly in the Staking Module, it is important to remember that in addition to rewards from the Staking Module, all liquidity providers are also earning trading fees and farm rewards from DEXs. For example, current yields include: • USH-EGLD: Up to 248% APY through the USH Staking Module, plus an additional 40% APR on @xExchangeApp • USH-USDC: Up to 261% APY through the USH Staking Module, plus an additional 52% APR on @ash_swap • USH-USDT: Up to 137% APY through the USH Staking Module, plus an additional 64% APR on @ash_swap At launch, the Redemption Mechanism was intentionally left inactive to analyze market dynamics and evaluate the efficiency of soft peg mechanisms, such as arbitrage between liquidity pools, organic liquidity provisioning, and natural market forces, before activating the Redemption Mechanism. Redemption Threshold Adjustment Plan Now that liquidity has stabilized and $USH has gradually moved back toward $0.97, we are increasing the redemption threshold to further reinforce the peg. To ensure a smooth and controlled restoration of the $1 peg, we will implement a gradual increase in the redemption threshold as follows: 🔹 Phase 1: Immediate increase from $0.95→ $0.965 🔹 Phase 2: Increase from $0.965 → $0.97 🔹 Phase 3: Increase from $0.97 → $0.975 🔹 Phase 4: Increase from $0.975 → $0.98 🔹 Phase 5: Monitor market conditions to determine if further adjustments are needed The first phase takes effect immediately, while subsequent phases will be spaced 40 minutes apart, allowing the system to rebalance gradually without introducing unnecessary volatility. How Redemption Works The Redemption Mechanism helps restore USH’s peg when it trades below a set threshold for a sustained period. Instead of triggering instantly, the system ensures that the depeg is persistent before opening a redemption window by tracking two moving averages: • A short-term moving average (last 5 minutes) • A long-term moving average (last 20 minutes) Both moving averages must remain below the threshold before a depeg window can be opened. This prevents unnecessary activations due to short-term price fluctuations and ensures that other peg-stabilizing mechanisms, such as arbitrage between liquidity pools, have a chance to correct the price first. Once a depeg window is opened, after a delay of currently 5 minutes, if the depeg still persists, redemptions are activated. Once active, a redeemer supplies $EGLD to the redemption smart contract, which purchases $USH from the EGLD-USH liquidity pool. The protocol then selects up to 10 borrowers with the highest risk profiles (but still above liquidation thresholds) and repays their $USH debt. The equivalent amount of collateral is seized and transferred to the redeemer, while the burning of $USH reduces its circulating supply, supporting price stability. Borrowers are not penalized, as both their debt and collateral decrease proportionally, and a share of the arbitrage profit is distributed between redeemers and affected borrowers to maintain fairness. With this strategy in place, we are confident that the USH Redemption Mechanism will not only restore the peg efficiently but also reinforce trust in the system, attracting more arbitrageurs to help stabilize the price of USH in the long term. In the coming days, we will provide the community with a fresh update on what’s next for Hatom, outlining key milestones we aim to achieve in the next few months. With the launch of $USH, completing the three core pillars of our ecosystem, our focus now shifts to improving our products, optimizing yield opportunities, and expanding passive income streams for our users. At the same time, we are working to simplify the user experience and improve onboarding into the Hatom ecosystem. As part of this initiative, we are working on a major revamp to our dApp designed to simplify dashboards, enhance usability, and create a more intuitive experience for all users. This upgrade will streamline navigation, improve accessibility, and make it easier to interact with all core products within the Hatom ecosystem. We are thrilled to witness our products' growth and the impact they will have on the #MultiversX ecosystem!