Helio Protocol Airdrop Review: Borrow Any Amount of HAY.

About Helio Protocol Airdrop

Developed on the BNB Chain, Helio Protocol Airdrop is an open-source liquidity protocol for borrowing and earning yield on HAY, which is a “destablecoin” Destablecoin a new asset class that is over-collateralized with liquid staked assets. In other words, HAY is an over-collateralized destablecoin, where 1 HAY is always redeemable at $1 of cryptocurrency, and over-collateralized by BNB. Users can mint and borrow HAY by providing BNB as collateral, which can then be used to stake for yield, liquidity mining and as a means to transfer value.

Following the launch of the governance token, HELIO, Helio Protocol will operate as a DAO, where the community will govern the protocol’s treasury, revenue pool and future direction. Helio Protocol has confirmed to launch a governance token called “HELIO”. Early users who’ve supplied, staked or borrowed assets from the platform may get an airdrop once they launch their governance token.

Platform	Airdrop End	Max. Participants	Website
Binance Smart Chain	N/A	Unlimited	Click Here To Visit

Easy Borrowing, Easy Earning

Provide BNB collateral to borrow the HAY destablecoin

Yield farm HAY on trusted partner DEXes for competitive APY

Get HELIO tokens as a reward for minting HAY

Powered by BNB Chain

HAY will create a new DeFi and destablecoin infrastructure on the BNB ecosystem

Open-sourced, Permission less & Decentralized

Multi-chain Scaling

Proof-of-Staked Authority (PoSA) Consensus

For Developers & Node Operators

Established & Diverse Ecosystem

BNB Chain Application Sidechain (BAS)

Low transaction fees

EVM-Compatible Blockchain

What Is Difference Between Destablecoins & Stable coins

Destablecoins differ from the conventional 4 stable coin types that currently exist in the market. Currently, there are four main types of stable coins, Fiat-backed (BUSD), Crypto-backed (DAI), Algorithmic (USDD), Commodity-backed (PAXG). Like other crypto-backed stable coins, destablecoins will utilize the overcollateralized model backed by crypto assets such as DAI. However, the key differences are:

• Destablecoins are fully decentralized. Crypto-backed stable coins such as DAI leverage on centralized crypto assets such as USDC, while destable coins such as HAY will use decentralized assets such as BNB. as collateral. Additionally, destable coins will also leverage on liquid staked assets.

Secondly, destablecoins aims to achieve stability broadly without an absolute peg to the fiat currencies. All currencies are different and have varying reference rates, so price fluctuations should be considered a norm defined by the market instead of aiming for a sense of absolute price stability at all cost. Similarly with destablecoins, it does not aim to achieve absolute price parity with US $1 as a primary objective nor rely on fiat assets as the backed collateral

Decentralize

The “de” in “destablecoins” stands for decentralized, and that is to clearly distinguish products such as HAY from others like BUSD or USDT, which is controlled by centralized custodians. This also helps mark the progression of stablecoins from being centralized to decentralized, and the DeFi industry as a whole.

The team does recognise that it may cause some slight confusion in the wording, but we are committed to educating community and continue to shed more light on what it means to be a destablecoin and how it can push the ethos of decentralization in crypto.

Why Helio?​

Many stablecoin protocols have become too dependent on one model (entirely collateralized) or gone to the other extreme (entirely algorithmic with no backing).

Collateralized stablecoins either carry custodial risk or require on-chain over-collateralization. These models provide a fairly tight peg with higher confidence than purely algorithmic designs.

Purely algorithmic designs such as Basis, Empty Set Dollar, and Seigniorage Shares provide a highly trustless and scalable model that captures the early Bitcoin vision of decentralized money but are lacking in terms of stability.

Unfortunately, the decentralized crypto-lending model we saw in the past decade did little to democratize financial services. Most blockchain-based lending protocols promise low fees, fast execution and high returns but they continue to suffer inefficiencies in design stemming from the “Stablecoin Trilemma”. This trilemma forces stablecoin developers to focus on mechanisms that can sacrifice either decentralization, price stability, or capital efficiency.