Flex Yang: The reserve assets of the stablecoin HOPE will be held in a distributed custody manner, with an initial reserve price of 0.5 USD

2023-03-22 22:20:24

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ChainCatcher news, former Babel Finance founder Flex Yang introduced the reserve mechanism and future plans of the crypto-native distributed stablecoin project HOPE during a Twitter Space AMA. He stated that HOPE's reserve assets will be managed in a distributed manner, with several crypto custody institutions jointly ensuring the safety of funds, minimizing centralization risks while ensuring the compliance and professionalism of the custody institutions.

At the same time, the planning of the HOPE stablecoin differs from other stablecoins. In the early development stage, the reserve price of HOPE will start at $0.5 and will fluctuate with BTC and ETH, with the main goal of becoming an important margin that connects DeFi, CeFi, and TradFi. The first application of the HOPE ecosystem, HopeSwap, will launch on the Ethereum mainnet in April, allowing users to obtain HOPE stablecoins on-chain and earn LT rewards through staking and providing liquidity. Subsequently, the use cases for HOPE stablecoins will gradually expand to lending, derivatives trading, and synthetic assets.

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HOPE Custody Stablecoin

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