Hatom USD
as of 02/01/2025
Last updated
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as of 02/01/2025
Last updated
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Stablecoins are essential to every DeFi ecosystem, providing a fast and efficient way to transfer stable value and hedge against market volatility. However, with the variety of stablecoins available, the question arises: why is there a need to develop new stablecoins?
The answer lies in market demand. The adoption of decentralized stablecoins is still relatively limited, which presents a significant opportunity for growth. In the ecosystem, there is currently a shortage of stablecoins, with only a small market cap for those available. Additionally, all existing stablecoins must be brought into the ecosystem via bridges, which introduces security risks and high fees. This highlights a gap in the market—one that Hatom can address by developing innovative stablecoins that better meet the diverse needs of DeFi users, while also enhancing the reach and efficiency of stablecoin usage.
Currently, stablecoins can be broadly categorized into three distinct groups: those backed by fiat currencies, others backed by cryptocurrencies, and those that rely on algorithms to uphold price stability. The primary distinctions among these categories stem from the underlying backup that determines their value, the collateral necessary for their issuance, their methods of issuance, and the strategies employed to maintain their price stability.
These promote an unprecedented level of transparency and resistance to censorship, upholding the principles of privacy and the core values of decentralization.
Users must place their trust in the stablecoin issuer. Such stablecoins are subject to potential blacklisting and may have less transparent backing structures.
These rely heavily on algorithmic formulas to regulate supply and demand, seeking to maintain stability in fluctuating markets.
is the first decentralized, multi-collateral stablecoin natively minted on the blockchain. It can be minted through multiple facilitators, such as the , using blue-chip assets like WETH, WBTC, USDC, USDT, UTK, MEX, or HTM. Additionally, can be minted at 0% interest through the , using assets such as EGLD or wTAO.
is minted by users who provide collateral at a predetermined ratio. This ensures the stability and value of , which is backed by a diverse basket of solid assets. When users either liquidate or repay their borrowed positions, the corresponding is returned to the platform and effectively "burned," or removed from circulation. This mechanism helps maintain the stablecoin’s parity with the U.S. Dollar.
Transparency
Decentralized, over-collateralized stablecoins offer a transparent ecosystem where all financial operations and collateral statuses are openly recorded on the blockchain. This system allows users and auditors unlimited access to validate the health and fairness of the stablecoin, promoting an environment of trust and security.
Stability
By providing collateral that exceeds the value of the stablecoin in circulation, ensures that the coin's value remains stable against its peg, despite market fluctuations. This over-collateralization acts as a safeguard, providing users with confidence in the stablecoin's purchasing power.
Censorship Resistance
Leveraging decentralized technology, these stablecoins operate beyond the reach of centralized authorities, offering a financial instrument that is resistant to censorship. This ensures that transactions and participations are uninhibited by geopolitical and institutional constraints, affording users global access and financial sovereignty.
is purposefully designed without a centralized locus of control. The governance of is vested in the hands of the Hatom Protocol Community through . This arrangement ensures higher transparency for compared to other market counterparts. Any updates or modifications to the protocol, including changes in interest rates or risk parameters, are made public. These changes require prior consensus from before implementation, ensuring a democratic and transparent process.