Hylo USD

HYUSD Price

About Hylo USD (HYUSD)

Hylo USD is a decentralized stablecoin native to the Solana blockchain, designed to maintain a 1:1 peg with the US Dollar using a collateral pool of liquid staking tokens.

• Employs a dual-token system where volatility is absorbed by xSOL, a leveraged long asset, to stabilize hyUSD.
• Backed exclusively by on-chain liquid staking tokens rather than traditional fiat currencies or treasury bills.
• Operates as an autonomous and permissionless protocol with no central fund manager or third-party trading dependencies.

What Is Hylo USD

Hylo USD is a decentralized finance (DeFi) product engineered for scalability and independence from traditional financial infrastructure. It introduces a stablecoin system where value is secured by the yield-generating potential of the Solana network. Unlike traditional stablecoins that rely on centralized bank reserves, Hylo USD is minted through the provision of liquid staking tokens (LSTs) as collateral.

Value moves through the system via the interaction between two symbiotic tokens: hyUSD and xSOL. Users can put their hyUSD to work by staking it in the protocol's stability pool to receive sHYUSD. This staked version is a yield-bearing token that accrues amplified rewards from the underlying assets backing the protocol. As the Solana ecosystem grows, the protocol scales by integrating diverse baskets of liquid staking tokens to strengthen its collateral base.

What Makes Hylo USD Unique

• Delta-Neutral Strategy: Hylo achieves stability through an autonomous strategy where xSOL absorbs price fluctuations of the underlying collateral, protecting the hyUSD peg.
• On-Chain Bonds: The protocol uses liquid staking tokens as "on-chain bonds" to harness network yield without relying on real-world assets or cash reserves.
• Invariant Liquidity: Slippage-free liquidity is maintained through the Hylo invariant equation, which balances the market capitalizations of hyUSD and xSOL against the total value locked in the collateral pool.
• Auditable Reserves: The backing reserve is directly auditable on-chain at any time, providing transparency regarding the protocol's solvency.

What Can You Use Hylo USD for?

Hylo USD is pegged to the US Dollar. Its primary use cases include:

1. Value retention: Users can hold hyUSD as a digital, on-chain representation of the US Dollar on the Solana network to reduce exposure to broader cryptocurrency market volatility.
2. Yield generation: Users may stake hyUSD to receive sHYUSD, which earns yield derived from the Liquid Staking Tokens backing the protocol and rewards from the stability pool.
3. Cross-border settlement / value transfer: hyUSD facilitates international remittances and the frictionless cross-border transfer of US Dollar value by leveraging the high-speed infrastructure of the Solana blockchain.
4. Collateralization: The token can be used as backing for borrowing and lending within the protocol's stability pool or as margin for integrated decentralized applications.

How Does Hylo USD Work?

Hylo USD operates through a Proof of Stake consensus model on the Solana network. The protocol maintains its peg using a volatility buffer mechanism. When the price of SOL increases, the excess value in the collateral pool is allocated to xSOL, causing its price to rise with effective leverage. Conversely, if the price of SOL drops, xSOL absorbs the negative movement to ensure hyUSD remains fully backed at its target value.

Transactions involving Hylo USD incur protocol service fees that support the maintenance of the stability pool and incentivized risk management. The system is governed by a mathematical invariant where the total value of the collateral pool must always equal the combined market capitalization of hyUSD and xSOL. This ensures that the protocol remains autonomous and self-contained, without the need for manual intervention by fund managers.

Team Info and Investors

The Hylo protocol is designed as an autonomous and decentralized system. According to available documentation, the protocol has no central fund manager or third-party trading dependencies, emphasizing its self-contained nature. Specific details regarding individual founders, early-stage investors, or venture capital backing are not specified in the project's official source material.

Where can you buy Hylo USD?

HYUSD tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Hylo USD is Orca, where the most active trading pair HYUSD/USDC has a trading volume of $2,349,555.32 in the last 24 hours. Other popular options include Meteora and Manifest.

What is the daily trading volume of Hylo USD (HYUSD)?

The trading volume of Hylo USD (HYUSD) is $2,644,944.35 in the last 24 hours, representing a -12.30% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Hylo USD (HYUSD)?

Hylo USD (HYUSD) reached an all-time high of $100.36 and an all-time low of $0.9270. It’s now trading -99.00% below that peak and 7.80% above its lowest price.

What is the market cap of Hylo USD (HYUSD)?

Market capitalization of Hylo USD (HYUSD) is $23,084,815 and is ranked #834 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of HYUSD tokens (23 Million tokens are tradable on the market today).

What is the fully diluted valuation of Hylo USD (HYUSD)?

The fully diluted valuation (FDV) of Hylo USD (HYUSD) is $23,085,940. This is a statistical representation of the maximum market cap, assuming total number of 23 Million ETH tokens are in circulation today.

How does the price performance of Hylo USD compare against its peers?

With a price increase of 0.10% in the last 7 days, Hylo USD (HYUSD) is underperforming the global cryptocurrency market which is up 14.80%, while underperforming when compared to similar Stablecoins cryptocurrencies which are up 0.70%.