Hubble Protocol Announcements

Attention @everyone.
Stability Fee Update

The Stability Fee will be set to 2% on June 13 at 14:00 UTC.

Here’s a quick refresher on Hubble’s Stability Fees:

👉 The Stability Fee helps maintain the $USDH peg. A fee increase encourages users to acquire USDH from the market and repay their loans, creating upward pressure on the peg.

👉 All fees contribute to the Hubble Native Yield (HNY), which is earned by users providing USDH in the Stability Vault. As some users acquire market USDH to repay their loans or to capture HNY by depositing in the Stability Vault, this should push $USDH back to $1.000.

If you’d like to join the discussion about Stability Fees, join the Hubble Forum topic about the issue here: https://forum.hubbleprotocol.io/t/stability-fee-increase/306/1

For more info on Stability Fees, head to the docs:
http://docs.hubbleprotocol.io/faq/usdh-peg-stability

Definitely join us for the Town Hall tomorrow:
https://discord.gg/pWH4Krk9f3?event=1106503454421159976

We are thrilled to announce the launch of another Hubble vault, this time with Helium.

$HNT - $USDH is now live, with 200 weekly $HNT incentives!

The vault enables Helium & Hubble users to earn, while supporting liquidity for both tokens 🫡

Enjoooy @everyone

Vault link:
https://app.kamino.finance/liquidity/hnt-usdh-orca/CJhyKExm1sqFkcRnemEQj847TgqEsPEgE5GbiHFqntkH

Our Monthly Town Hall is coming up on Wednesday, May 3rd - It's gonna be a good one

Join us in the Hubble Portals room for some juicy alpha on what's in store for vault enjoyooors🫡

...ohh and one more thing

DRip is leveraging the power of compressed NFTs and hooked us up with some of their codes....so there might be a few of those to be had

See you there Folks:

https://theportal.to/?room=2d16d1a8-3ccc-4e28-be2f-69f6e1ebe30e

Hi @everyone , quick announcement on upcoming community events.

At the top of the server you can see that we currently have 3 events lined up. Please signal your interest if you can, this helps us plan ahead of time.


Monthly community townhall - April 5th
Our monthly townhall is up again on Wednesday, 5 April @ 17:00 (GMT), make sure to join in to get the chance to get updates from the core contributors. We will be hosting this on in our Portals again and will stream live into the Hubble Discord

Link to event: https://discord.com/events/901231379587670066/1085974106891104307

If you don't want to wait until the TH, you can always walk around and discover, even if no one is around: https://theportal.to/?room=2d16d1a8-3ccc-4e28-be2f-69f6e1ebe30e



DeFi Decoded Twitter Spaces Join us for a Twitter spaces with Divine Dogs, Motley Labs & Frakt for a talk about DeFi, NFTs and NFTfi on Thursday, 30 March 2023 02:00

Link to Twitter Spaces: <https://twitter.com/i/spaces/1OdJrzAwAaeJX>



Friday DeFi chat with Ultimate
Join us for a casual conversation to kick off the weekend with Ultimate Wallet on Friday, 31 March 2023 14:00 (GMT)

Link to Twitter spaces: <https://twitter.com/i/spaces/1rmxPkOqgnYJN>

We have some exciting news:

Hubble is live once again, with USDH minting enabled on all pools!🚀

The devs have spent the past two weeks preparing the platform to get back up and running, with numerous points that have been addressed. Amongst many others, these include:

- Clearing up the final, under-collateralized loan
- Reevaluating collateral assets following the FTX crash
- Increasing the robustness of oracles & price feeds
- Introducing Proof of Reserves

Over the next few days, the content contributors will be going into some of these points in greater depth, though for immediate use of the platform, here are some key improvements/changes to note:

- BTC, SRM and FTT are no longer accepted as collateral due the direct impact of the FTX fallout
- Stability Fees have been set to 0 for the main borrowing vault: https://bit.ly/Hubble-Main-Vault
- The minimum borrowing amount of 2 USDH has been removed
- Proof of Reserves have been added to the Stats Page: https://bit.ly/Hubble-Proof-of-Reserves

The platform has been tested rigorously before going live, though feel free to reach out via Discord (discord.gg/hubbleprotocol) if you have anything to note!

Your patience & support is much appreciated; there are loads of improvements/features in the pipeline, though, as always, security will always take precedent🔒

We look forward to working with you into 2023 and beyond!

Tweet:
https://twitter.com/HubbleProtocol/status/1600056254503821312?s=20&t=lvfLFQ4c5onGFOOYJlr6iw

An official Hubble Retrospective on the FTX Crash

The article (V2): https://bit.ly/Hubble-Stress-Test-FTX

The retrospective gets into the details of Hubble's decision making throughout the crash, which measures were already in place that allowed users additional safety, and what lessons were learnt on how to build the system even more resilient.

There was a lot to cover, and it's strongly encouraged that you read through the article 🤝

Here's the thread if you're in need of a tl;dr :
https://twitter.com/HubbleProtocol/status/1598606491912753154

Just a checkin in real time of what we are doing.

We are aware that the SRM and soBTC positions pose an existential risk to Hubble and as such we are working on a solution which would have Hubble assuming the bad debt and with none passed to any of our users. Technically, we have enabled redemptions (an old feature that was never enabled due to bad UX), so we can redeem SRM and BTC at the currently trading price on Jupiter. Hubble will provide the USDH to repay and will in turn receive the SRM and BTC. Hubble will try to liquidate the two tokens on the market. This is necessary to avoid liquidations which would otherwise turn into redistributions to all debt holders.

In practice this will mean that Hubble itself will eat the bad debt with none of it passed to any of our current users.

Thanks to everyone for your feedback and pushback 💪

Due to the high assumption of risk for Solana on-chain BTC, we've decided to protect the Stability Pool from taking BTC risk and allow liquidators to take on the risk instead.

If loans are becoming undercollateralized, the mechanism of redistribution will take place and debt will be redistributed across all loans

It's Part 2 of the Curve 4Pool Drama!

Buckle up, and take a trip down memory lane to a time when DAI got death threats, 20% APY attracted $20 billion, and the Degenbox was cranking leverage on that 20%. The partnership between Terra and Abracadabra takes center stage here, and then things go very wrong--before they go very very wrong:

https://blog.hubbleprotocol.io/curve-wars-and-4pool-drama-part-2/?utm_source=telegram&utm_medium=social&utm_campaign=blog_internal

Looking for some good lending strategies to up your DeFi game?

We've got a few from the Solana lending community for your yielding pleasure:

https://blog.hubbleprotocol.io/best-lending-strategies-on-solana/?utm_source=telegram&utm_medium=social&utm_campaign=blog_internal

Latest blog post covers the Curve Wars and the dramatics that was the 4Pool. The belligerents: Curve, MakerDAO, Terra, Frax, and even Abracadabra. Part 1:

https://blog.hubbleprotocol.io/curve-wars-4pool-part1/?utm_source=telegram&utm_medium=social&utm_campaign=blog_internal

Heads up! We’ve got our first ever metaverse AMA kicking off right now, hosted in Portals, by the Portals team🔥

Jump in now👇
https://theportal.to/?room=963f644b-ba2b-4589-862d-459ba25f611e

How can you find the best crypto lending rewards on Solana?

A new Crypto Basics guide👇

https://blog.hubbleprotocol.io/best-crypto-lending-rewards-solana/?utm_source=telegram&utm_medium=social&utm_campaign=blog_internal

Hubble x Solend Giveaway is now live🚨

To celebrate the cToken launch, we're giving away a pool of SLND + USDH!

Here's how it works:

We're thinking of a number between 2 and 200. To win:

- Mint this number of USDH from the cToken Vault
- Like and RT the tweet below:
https://twitter.com/HubbleProtocol/status/1572909982068408320?s=20&t=epnpwSpAA4rOUPIxS8MR0w
And follow both Hubble and Solend🤝

The more RTs the post gets, the more tokens we'll be giving away!

Good luck, folks!

Excited to share that we are now participating in Marinade Governance🤝

The $mSOL/$USDH Orca Whirlpool is now open for voting in the Marinade Liquidity Gauges, with an additional 960 $MNDE emissions already going to the pool with current voting.

As things stand, this implies a ~10% increase of $MNDE emissions on the pool🚀

To participate in the voting:

1. Lock up your $MNDE in a Chef NFT (https://marinade.finance/app/mnde/)
2. Head to Marinade’s Gauges on Tribeca (https://tribeca.so/gov/mnde/nftgauges/liquidity)
3. Go to the $mSOL - $USDH Pool
4. Cast your vote

Security article coming your way🔐

There has been no shortage of exploits over the past few months. It's become clear that, for the time being, the best approach to ensuring your own safety is maintaining a measure of skepticism when interacting with DeFi protocols.

DYOR has never been a more apt recommendation than it is at present. We’ve written up an ELI5 piece on how exploits happen, what audits are, and how you as a user can maximize your own safety.

It's a good read for anyone with a few minutes to spare👇
https://bit.ly/exploits-audits-security-hubble-blog

🔊 Quick announcement:

Get to grips on yield farming quick with Francium stopping by the Hubble Discord.

Less than 1 hour until we demo some strategies:

https://discord.com/events/901231379587670066/1006872428988878978

Get ready for Thursday (tomorrow):

📺Crypto Basics - Leveraged Yield Farming with Francium. Learn about LYF and how to go long/short/neutral with leverage.

⏰: 11 AM UTC
📍: https://discord.com/events/901231379587670066/1006872428988878978

Then, calling all big brains looking to score a Ledger and some cash 🧠 Join the Hubble Quiz on yield farming, CLMMs and LYF. Prizes to be won!

⏰: 4 PM UTC
📍: https://discord.gg/7uwQjm9Tevent=1006242425280417882

Prepare for the quiz by reading our blog posts on each topic 👇

Basics of YF: https://blog.hubbleprotocol.io/yield-farming-crypto-basics/
CLMMs: https://blog.hubbleprotocol.io/what-is-clmm/
Leveraged YF: https://blog.hubbleprotocol.io/what-is-leveraged-yield-farming/

Solana Summer Trading is back with a bang, with two FamousFoxFed NFTs up for grabs for trading $FOXY token on jup.ag over the next 7 days💸

One FFF will go to $USDH / $FOXY trades, with another going to any $FOXY trades, courtesy of @JupiterExchange

The prizes are awarded via a raffle system, so users with the highest volume don't win by default. Instead, you can get raffle tickets by:

- Total volume
- Total trades
- Volume per trade
- Consecutive days traded

Here's an overview of the rules👇
https://blog.hubbleprotocol.io/solana-summer-trading/

Massive shoutout to the big brains over at HelloMoon_io, who keep track of all the raffle tickets, and make sure the prizes are awarded fairly. The trading competition would, quite literally, not be possible without them🤝

🦺 Stay safe out there, folks!

1️⃣ Limit phone exposure until Saga
2️⃣ Use a Ledger
3️⃣ Ignore rando people and links

Read about these DeFi security tips and more, including how to avoid a $5 wrench, in our latest post:

http://blog.hubbleprotocol.io/defi-security-best-practices/?utm_source=telegram&utm_medium=social&utm_campaign=blog_internal