started my Hylo journey today after a brief due diligence, 1) what is Hylo? Hylo is an over-collateralized stablecoin protocol backed by largest liquid staking token on solana i.e JitoSOL. currently in private-beta how to get started? use my code: UWW2OJ let's dive in 🧵;
2) use JitoSOL to mint xSOL xSOL enables 2-4x leveraged exposure to SOL price without liquidation risk 20x XP bonus on deposit
3) use JitoSOL to mint hyUSD hyUSD is the most decentralized stablecoin on solana, pegged 1:1 to the US Dollar and backed by liquid staking token LST. hyUSD benefits from direct redemption at anytime 5x XP bonus on deposit
4) stake hyUSD for sHYUSD sHYUSD is the staked version of hyUSD that are deposited in the stability pool. this is a yield-bearing token that accrues from the underlying assets backing the protocol sHYUSD currently yielding 20% APY 1x XP bonus on deposit
5) TDLR; Hylo is backed by JitoSOL, also supported assets i.e SOL, jupSOL, USDC and USDT. xSOL is 2x leverage long on SOL hyUSD is most decentralized stablecoin on solana sHYUSD yield-bearing stablecoin pegged to hyUSD with accrues points program is live, get in now. DYOR!
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