Hylo | Better Internet Money
@hylo_so
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Next-gen stablecoin offering the highest network yield, only possible on @solana .
Joined February 2024
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Pinned Tweet
1/6 Hylo is locked in for
@ColosseumOrg
🏛️
Our team is excited to participate in this
@solana
hackathon with a simple mission: stepping up the stablecoin and leverage long solutions on Solana.
🧵
Compete in the
@Solana
Radar Hackathon, powered by Colosseum!📡
🌍Online hackathon
💰$600k prize pool
🏆7 prize tracks
Up to 15 winners will be accepted into Colosseum's accelerator program, where each will receive $250,000 in pre-seed funding.
Sign up & start building today!
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Solana's stablecoin landscape has a centralization problem.
1/7 Let's dive into it! 🧵
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Excited to kick off Breakpoint today! 🇸🇬
Can’t wait to catch up with familiar faces and meet new ones.
We've got some awesome Hylo merch for you too - come say gm and grab yours! 👋
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Hy Manlets! Our landing page is now live at
With Hylo, expect to:
• Earn 15% to 30% APY on a Solana-native stablecoin backed by LSTs
• Go long on SOL with leverage, without ever being liquidated
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Hylo team had an incredible time at Breakpoint connecting with the visionaries and giga-brains driving this ecosystem forward!
Big thanks to
@Perena__
@DriftProtocol
@jito_sol
@sanctumso
@MarinadeFinance
@SolanaFndn
@KaminoFinance
@uselulo
@SquadsProtocol
@JupiterExchange
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4/6 Second, $xSOL: a tokenized long position on SOL engineered for HODLing.
xSOL provides an optimized UX for longer-term conservative leverage (2-4x) without funding rates or liquidation risk.
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3/6 We're building two products for the ecosystem:
First, $hyUSD: a high-yield stablecoin (15-30% APY) backed by Solana LST tokens.
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6/7 To become a truly parallel financial system, Solana DeFi needs an alternative to centralized stablecoins that is decentralized, stable, and scalable.
Enter Hylo, the solution to these challenges. Stay tuned for another thread where we'll introduce how it works.
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Pumped to see you around at
@ThePortMiami
where shippers ship. 🚢😤🌴
GM from The Port of Miami.🚢
The first of many
@solana
community hubs with its first doors opening in Wynwood, Miami. The Port is where builders come to congregate, ideate, collaborate and most importantly ship products.
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6/6 Want to learn more about Hylo and stay updated?
Follow
@Hylo_so
on X, and join our alpha group on Telegram for exclusive insights and discussions. 🥷
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2/6 Hylo tackles two critical Solana issues:
• Stablecoin centralization and dependence on traditional banking
• Leverage market's high funding rate and liquidations
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5/6 $xSOL and $hyUSD are interconnected. xSOL absorbs SOL's volatility to give holders leverage, while securing the USD peg on hyUSD.
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3/7 Government agencies and corporations can intervene in the issuance, redemption, and transmission of the most popular stablecoins. These risks violate some of the core principles of the cryptocurrency movement: decentralization, censorship resistance, and security.
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7/7 Want to learn more about Hylo and stay updated? Follow us on X, and join our alpha group on Telegram for exclusive insights and discussions. 🥷
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4/7 Fiat-backed stablecoins keep collateral yields while exporting depegging risks to their users. This imbalance lets companies like Tether profit heavily from deposits without sharing returns.
Tether Releases Q1 2024 Attestation: Reports Record-Breaking $4.52 Billion Profit, Highest Treasury Bill Ownership Percentage Ever, Total Group Equity of $11.37 Billion
Read More:
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5/7 In March 2023, USDC depegged to $0.87 after Silicon Valley Bank's collapse. This swift market reaction to potential collateral loss highlighted centralized collateral management's impact on stablecoin stability.
1/ Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
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2/7 98% of Solana's stablecoin market is owned by private corporations and backed by U.S. dollars held in bank accounts. These centralized stablecoins, like $PYUSD and $USDC, are subject to censorship, induced depegs, and seizure.
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