Hedge Lab’s stability pools and Orca whirlpools are now live, allowing users to earn $HDG and $ORCA.
Mainnet Boasts Attractive APYs
Hedge Labs’ mainnet beta is now live with a promise of an interest-free loan against your SOL.
Hedge Labs announced the launch of their mainnet via Twitter on May 20, informing users that they could earn $HDG and $ORCA in Hedge Lab’s stability pools and Orca whirlpools. The Hedge stability pool allows users to deposit USD and earn HDG in rewards with a current APY of 339.10%. In addition, there are two Orca whirlpools users can invest in – USF/USDC and HDG/USDC with current APYs of 1440% and 5966%, respectively. $HDG is the native token of Hedge with a total supply of 10 million, and $USH is a soft-pegged stablecoin. https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-3&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NlbnNpdGl2ZV9tZWRpYV9pbnRlcnN0aXRpYWxfMTM5NjMiOnsiYnVja2V0IjoiaW50ZXJzdGl0aWFsIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlcl9mb2xsb3dfaW50ZW50XzE0NDA2Ijp7ImJ1Y2tldCI6ImNvbnRyb2wiLCJ2ZXJzaW9uIjoxfX0%3D&frame=false&hideCard=false&hideThread=false&id=1527470176379207684&lang=en&origin=https%3A%2F%2Fwww.web3wire.news%2Fpost%2Fhedge-labs-launches-on-mainnet&sessionId=46bdebb6178ec7c2c43afd0b32dc8504ca411daf&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
✨The time has come – Hedge mainnet beta is live!
➡️ Get an interest-free loan against your SOL at https://t.co/PBQobGKvH7
🦔 More collateral coming soon, stay up to date at https://t.co/8hcBCvU0YO
🧑🌾 Earn $HDG and $ORCA rewards in our Stability Pool and @orca_so Whirlpools pic.twitter.com/0yXkKpGRy0— Hedge Labs is live on mainnet! (@HedgeLabs) May 20, 2022
For minting $USH, you must deposit SOL tokens into a Hedge Labs vault. You can then deposit USH in the stability pool to earn HDG and SOL tokens (SOL is earned when other vaults are liquidated). Further, you can stake earned HDG in the HDG staking pool to earn a share of the Hedge protocol fees in USH and SOL.
Web3Wire reached out to Seb, co-founder of Hedge Labs, and here’s what he had to say about the recent development:
“We’ve been very excited by the adoption of Hedge so far since the very recent mainnet launch. It’s great to have come this far since winning the Chainlink prize at the Ignition Hackathon. Interest-free loans add another much-needed primitive to the Solana lending ecosystem. The team is currently focused on polishing the product before launching new features such as additional collateral.”
Hedge Labs made its debut at last year’s Solana Ignition Hackathon by winning the Chainlink prize. In addition, the company recently announced raising $3.5 million through a seed round led by Race Capital with participation from investors by the likes of Pantera Capital, Solana Ventures, and Shila Capital.
The protocol then saw considerable interest in Hedge from users since over 20k unique wallets interacted with Hedge, and over 32,000 vaults were created. Additionally, over 100M devnet USH were minted, and the team had to disable a debt ceiling limit to allow people to continue testing, according to their Medium article.
Additionally, Hedge smart contract is audited by prominent auditors — Kudelski, Soteria, and OtterSec. You can check the audit reports here. There are currently over 21k people on the Hedge Labs Discord, and the core team, including the co-founders, seemed active in answering community members’ queries.
What is Hedge:
Hedge is a lending protocol built on the Solana blockchain that allows you to take out collateralized loans with no interest. Hedge allows you to borrow USH from our stablecoin using SOL as collateral. Your SOL is safe in a Hedge vault as long as you keep enough collateral, and you can use USH for whatever you need. Furthermore, because a Hedge loan has no interest, it costs the same to repay regardless of how long it is open.
Learn more about Hedge:
Source : web3wire.news
