Hatom is MultiversX's first liquidity protocol that empowers DeFi through various products. It is a decentralized algorithmic ecosystem composed of multiple building blocks, such as liquid staking, lending, and borrowing, that will be made available to its users through a community-driven culture. Each active member contributes to turning Hatom into a DeFi hub.
The initial projects included in the Hatom ecosystem, which are set to launch this year, are the Lending Protocol, Liquid Staking, Leverage Liquid Staking, HatomUSD, Hatom Mush, and Leveraged Yield Farming.
Hatom is poised to become a complex DeFi infrastructure that powers the MultiversX ecosystem through composable products.
$HTM, the Hatom token
$HTM is the ESDT at the heart of the Hatom ecosystem and has significant governance power as it governs all the backbone DeFi products within the MultiversX blockchain. In addition to its governance power, the token has various utilities, such as earning rewards through staking (a percentage of the ecosystem's revenues will be allocated to the staking module), gaining incentives from lending, using it as collateral to borrow, and earning incentives by securing the protocol through the safety module.
Few products of Hatom portfolio
- Lending Protocol:
It is a decentralized, over-collateralized, algorithmic protocol built on MultiversX. It allows lenders to supply liquidity and earn interest on it, and borrowers to take out loans in an over-collateralized fashion.
- Liquid Staking:
It is a module that enables users to participate in the network’s security by staking their EGLD with validators while retaining access to the value of their assets.
*StakedEGLD (sEGLD): By entering the Hatom protocol, users secure the network by delegating $EGLD to the list of Hatom’s whitelisted validators and receive sEGLD or "Staked EGLD" tokens. sEGLD is a reward-bearing token that can be used across numerous DeFi Apps to generate more rewards.
We notice that users of liquid staking can generate rewards from multiple streams, the first one from participating in the consensus by delegating $EGLD to the validators, and additional ones by participating simultaneously in DeFi products using sEGLD.
*HatomStakedEGLD (HsEGLD): Is an interest-bearing token and a boosted version of sEGLD. It is the receipt token that users receive when they supply their sEGLD to the lending protocol. You can also use it as collateral without being constrained to take a loan to earn any additional rewards distributed to the sEGLD money market.
*Interest Compounding EGLD Index (xEGLD): This solution contributes to the enhancement of staking returns through a leveraged liquid staking strategy: token holders can retain spot exposure to EGLD while amplifying their staking returns up to 3.3 times. xEGLD multiplies the staking rate for sEGLD, minimizing transaction costs and the risks of maintaining the collateral associated with the loan in the Hatom Lending App.
There will be liquidity pools created for sEGLD, HsEGLD, and xEGLD in AshSwap, a stable swap DEX, providing users with the possibility to quickly access the value of their funds without going through the 10-day unbonding period.
The $HTM token allows its holders to take part in governance and decide on the future of the entire Hatom Ecosystem. Your voting power is defined by the amount of $HTM you own.
- Staking Module:
The $HTM token is at the center of the Hatom ecosystem, having important utilities, and can be used in multiple products such as the Staking Module, Safety Module, Governance, and Lending Protocol.
Through the Staking Module, stakers of the $HTM token will earn, in a sustainable manner, a portion of the revenue generated by the whole Hatom Ecosystem, depending on the amount they have staked. The Hatom Ecosystem generate revenue from multiple streams of income: The Lending Protocol, Liquid Staking, Leveraged Liquid Staking, $USH (the native stablecoin), Hatom Mush, Leveraged Yield Farming and much more.
- Safety Module:
DeFi involves potential risks, and Hatom Protocol is prepared to respond promptly and efficiently to such risks.
Hatom has developed a Safety Module that will add an additional security layer to the protocol by creating a diversified pool of assets that can be used to cover any deficit in case of a shortfall event. The Safety Module is an important feature that acts as insurance and provides more security to the protocol. Users can deposit their EGLD, sEGLD, USDC, BUSD, USDT, MEX, UTK, and HTM and earn safety incentives in the form of the HTM token.
Having a diversified pool of assets will prevent Hatom from creating a huge selling pressure on the HTM token in case of a shortfall event. The HTM tokens that are distributed as incentives will be bought using a portion of the revenue of the protocol and then distributed through the Safety Module; it can be considered as paying for insurance. The Safety Module will initially have a pending cooldown set at 30 days, which can be changed through governance.
Hatom is launching a dedicated arm that will focus on ecosystem growth:
Hatom Grants: A portion of the Hatom Treasury will be allocated to support development projects that build on top of the Hatom Protocol and the MultiversX. Anyone who contributes to making Hatom a DeFi hub will be eligible for the Grants Program.
Hatom Labs: This division provides development teams connected to the Hatom DeFi ecosystem with funding, mentorship, and access to a network of industry experts. Projects with the potential to contribute to the growth and development of the MultiversX network will receive incubation, grants, and endorsements.
The official Hatom links:
- Website: https://beta.hatom.com
- Foundation: https://hatomlabs.com
- Documentation: https://docs.hatom.com
- Educational Support: https://esdt.io/
- Devnet: https://devnet.hatom.com
- GitHub: https://github.com/HatomProtocol
- Twitter: https://twitter.com/HatomProtocol
- Telegram: https://t.me/HatomProtocol
- Discord: https://discord.com/invite/WekwfUDXGp