Hatom USD

What is USH?

USH is the first native, over-collateralized, and decentralized stablecoin on the MultiversX blockchain, designed to maintain a stable value pegged 1:1 to the U.S. Dollar. It is minted by supplying blue-chip assets like WETH, EGLD, WBTC, USDC, or any other asset supplied into Hatom’s Lending Protocol as collateral and other innovative and well-designed mechanisms.

This multi-backed approach, alongside market efficiencies, ensures USH's stability and reliability. Users mint USH by providing collateral at predetermined ratios, supporting its value with a diverse basket of solid assets. The mechanism of liquidating or repaying borrowed positions, which leads to the 'burning' or removal of USH from circulation, further maintains the stablecoin's parity with the U.S. Dollar, ensuring its consistent performance and trustworthiness in the market.

Given the recent fluctuations in the market, there is an increasing demand for stablecoins that are decentralized and over-collateralized to maintain the values of the crypto sphere. As a stablecoin that our platform's Governance controls, USH is well-positioned to meet this demand. With community support, USH has the potential to evolve into an integral component of the DeFi ecosystem, providing stability amidst market fluctuations and removing the current high borrow APY present on the markets.

In addition to USH, Hatom also introduces an interest-bearing version of USH, called sUSH, which represents the underlying USH utility plus a real yield which is accumulated constantly through multiple avenues used to mint USH. Users can mint sUSH through the Staking Module.

It is worth noting that interest payments made by USH minters through the Lending Protocol are not directed into a typical Reserve Factor, as is the case with borrowing other assets. Instead, these payments are funneled directly into the Staking Module to increase the price of sUSH, the interest-bearing stablecoin.

Launch Features

Permissionless Acquire USH: Trade USH or sUSH on multiple exchanges without the need to provide collateral.

Direct Mint USH: Mint USH directly through multiple facilitators such as Lending Protocol, Isolated Pools, or Boosted Vaults.

Direct Redeem USH: Exchange USH directly in Hatom Protocol for a value fixed at $1.

Stake USH to mint sUSH: Stake USH in the Staking Module and receive the interest-bearing version of USH, earning interest passively.

Please note: While USH will initially launch as the first native stablecoin on MultiversX, it is slated to evolve into an omnichain stablecoin, as outlined in the updated Hatom Roadmap and the protocol’s development towards an omnichain model.