Hubble Protocol

Hubble Protocol operates within the Solana blockchain ecosystem, offering a decentralized finance (DeFi) platform. The project was co-founded by Marius Ciubotari and Thomas Short, who have backgrounds in software engineering and finance. The protocol's core function is to enable the minting of USDH, a censorship-resistant stablecoin pegged to the US Dollar. Users can mint USDH by depositing a variety of crypto assets as collateral, such as SOL, BTC, and ETH, into their Hubble accounts. This mechanism allows users to unlock liquidity from their holdings without selling them.

The business model centers on generating revenue through fees associated with its services. A one-time 0.5% fee is charged on the amount of USDH minted when a user borrows against their collateral. These fees are then distributed to stakers of the platform's native token, HBB. Staking HBB not only allows users to earn a share of the protocol's revenue but also grants them participation in the platform's governance, influencing its future development. The platform targets DeFi users on the Solana network, ranging from individual crypto holders to institutional players seeking to leverage their assets.

Beyond its stablecoin minting service, Hubble Protocol provides additional yield-generating opportunities. Users can deposit their USDH into the platform's stability pool to earn liquidation gains and HBB token rewards. The protocol has also expanded its offerings to include products like Kamino Lend, a borrowing and lending market, further diversifying its utility within the DeFi space. The system is designed to maintain the stability of USDH through a liquidation mechanism, which is activated if the value of a user's collateral drops below a certain threshold, ensuring the protocol remains solvent.

Keywords: decentralized finance, DeFi, Solana, stablecoin, USDH, crypto borrowing, yield generation, collateralized debt, HBB token, crypto liquidity