ApolloX, the biggest crypto derivatives decentralized exchange on BNB Chain, and Helio Protocol, a destablecoin lending and liquid staking protocol on BNB Chain, today announced an expanded collaboration to further benefit ecosystem users.
Under the partnership, Helio’s destablecoin HAY will be added as an asset in the ALP Pool, ApolloX’s liquidity provider pool. Stakers who mint ALP with HAY can earn APX rewards and enjoy additional HAY staking rewards concurrently. HAY is also expected to be added as a margin asset on ApolloX V2 Trading, which offers fully on-chain crypto and forex perpetual trading with leverage.
Both leading in their sectors, ApolloX and Helio Protocol share a dedication to harness the potential of the decentralized finance (DeFi) industry. HAY was previously added as a margin asset under ApolloX V1 Trading, ApolloX’s orderbook perpetuals. Hence, traders will soon have even more freedom of choice to trade over 70 perpetual contracts across ApolloX V1 and V2, or become a V2 market maker and earn passive income by minting ALP with HAY.
“This partnership leverages ApolloX’s reliable infrastructure to deliver the technology innovation meant to differentiate HAY in the industry. We are thrilled that Helio Protocol and ApolloX have once again joined hands,” said a Helio Protocol representative.
“Our collaboration with Helio Protocol centers around a shared commitment to shape strong DeFi use cases. HAY will be one of the margin assets that can be used for V2 Trading aside from stablecoin USDT. Helio’s provision of additional staking rewards also delivers greater value to users,” said the core team at ApolloX.
The two companies plan to hold a trading campaign and Ask-Me-Anything (AMA) in the coming weeks.
About HAY
HAY is a USD over-collateralized destablecoin backed by BNB. By creating a collateral debt position (CDP) with BNB on Helio Protocol, users can borrow HAY in return for use in earning staking APY and in yield farming. Destablecoin stands for “decentralized stablecoin” and does not guarantee an absolute 1 to 1 peg with fiat currencies. Instead, HAY embraces slight price fluctuations as fiat currencies would with changing interest rate parity and reference rates in the open market.
About Helio Protocol
Developed on the BNB Chain, Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on “destablecoin” HAY. HAY is an over-collateralized destablecoin, where 1 HAY is always redeemable at $1 of cryptocurrency, and over-collateralized by BNB. Users can mint and borrow HAY by providing BNB as collateral, which can then be used to stake for yield, liquidity mining and as a means to transfer value.
About ApolloX
ApolloX is the biggest decentralized crypto derivatives exchange on BNB Chain in terms of TVL and unique addresses. The platform offers trading of perpetual futures with lower fees:
- Trading V2, a fully on-chain liquidity model for more transparent, low slippage trades.
- Orderbook Perpetuals, a unique matching and settlement model for speed and an intuitive trading experience.
To learn more, visit: www.apollox.finance.