HBTC and HFIL have enabled users to seamlessly access decentralized protocols such as Uniswap, Curve, Cream, Nest, CoFix, and ForTube. I am here to submit a proposal for adding HBTC and HFIL to Rari Stable Pool and Rari Yield Pool.
Category: Cross-chain assets
Backed by: BTC and FIL, 1:1 ratio
Audit: Slow Mist
Year of Issuance：2020
H-Tokens(HBTC, HFIL, HDOT…) are assets issued on Ethereum and 1:1 backed by cryptocurrencies from other blockchains to bring more digital assets to the Ethereum DeFi ecosystem.
To ensure the 1:1 backing is maintained, the amount of H-Tokens issued and assets reserved and relevant records are open and transparent. All activities can be checked here: https://www.htokens.finance/en-us/assets 1
H-Tokens official website: https://www.htokens.finance/en-us/
HBTC & HFIL Liquidity Venues
Users can choose HBTC (or HFIL) when withdrawing their BTC (or FIL) on Huobi Global. Or, they can get HBTC and HFIl on decentralized exchanges: Curve, and Uniswap. By now, HBTC and HFIL have been connected to key DeFi protocols like Curve, NEST, CoFiX, Uniswap, ForTube, and YFII. And many other high-quality smart contracts, including AAVE, dYdX and MakerDao, are in negotiation. Landed on September 9, the CRV mining revenue of HBTC-WBTC pool has now reached 25%-64%, leading all ERC20 BTC pools on Curve.
Based on my understanding of Rari, acceptance of HBTC and HFIL as deposit assets for Rari Stable Pool and Rari Yield Pool will definitely enable more users to join this community and bring more liquidity.
CoFiX Mining with HBTC: https://medium.com/cofix/we-are-launching-cofix-95d7c056ec63 1
HBTC and HFIL supported in Fortube (https://for.tube/home ) as collateral and loan asset.
Juan Benet, the founder of Filecoin, praised HFIL on Twitter, thinking that using HFIL and DeFi, anyone can migrate FIL to Ethereum and use smart contracts to handle various things. Miners can rely on DeFi infrastructure and loan market. https://mobile.twitter.com/juanbenet/status/1318217566473445376
HBTC pool is available on Curve since Sep 10th and liquidity providers can then deposit HBTC there to earn trading fee reward and CRV reward. https://www.curve.fi/hbtc/deposit
NEST’s Oracle currently support HBTC. Users can quote and gain nTokens on it. https://nestdapp.io/
100% Reserve: Make sure that the amount of mortgage assets is always greater than the number of H-Tokens
More users from Asia Pacific for Rari: As H-Tokens(Huobi) gets more users in Asia market, this will bring new users for Rari
Let’s discuss and see if there are questions or concerns about HBTC and HFIL on-borading.
For: Accept HBTC & HFIL for Stable Pool and Yield Pool
Against: Don't Accept HBTC & HFIL