Helio is a decentralized borrowing protocol that lets users borrow the HAY stablecoin in exchange for depositing BNB or BUSD as collateral.
Helio is a decentralized borrowing protocol that allows borrowers to draw loans against BNB or BUSD as collateral. Loans are paid out in HAY, a USD pegged stablecoin with a collateralization ratio of at least 150%. Helio maintains the price stability of HAY through natural market forces like arbitrage. When HAY is trading above $1, borrowers are incentivized to borrow more HAY to sell for other assets. When HAY is trading below $1, borrowers are incentivized to buy HAY from the market to pay back their debt.
Helio collects borrowing interest on all HAY generated through its smart contracts, as well as staking rewards from the conversion of BNB collateral to Ankr's liquid-staked BNB (AnkrBNB), and distributes it all to the protocol's revenue pool. This revenue pool is governed by the Helio DAO to decide how much will be used for buyback-and-burns, fund third-party risk assessments, held as a reserve pool for risk management, and further incentivize borrowers and liquidity providers (LPs).
You can deposit BNB or BUSD into the Helio vaults to mint HAY to be used across DeFi for lending and market making. You can also stake your HAY on the platform to earn staking rewards or pair your HAY with BUSD to farm LP rewards on PancakeSwap and Ellipsis.