HAY publisher Helio: The planned HAY repurchase and destruction scheduled for today may not be realized

2022-12-06 14:05:11

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ChainCatcher news, the stablecoin project Helio Protocol in the BNB Chain ecosystem has announced on social media that it has initiated the first batch of HAY buyback and burn program. However, the original plan to complete the buyback and burn of excess HAY by December 6 to restore the HAY price to peg with the US dollar or at least close to 1 dollar may not be achievable.

Additionally, once the plan to restore the peg to 1 dollar is completed, Helio Protocol will share all relevant information and addresses with the community. Helio Protocol is communicating directly with all partners and has decided to take a more cautious approach, so it may take a little more time.

According to data from CoinMarketCap, as of now, the price of HAY is 0.88 dollars. (Source link)

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HAY Helio Protocol

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