ChainCatcher news, the BSC ecosystem stablecoin project Helio Protocol has announced the addition of ETH as collateral. Users can now obtain the protocol stablecoin HAY by collateralizing ETH and BNB.

ChainCatcher news, the open-source liquidity protocol and decentralized stablecoin HAY issuer Helio published an article reviewing the goals achieved in the V1 version and announced updates to the V2 version roadmap, which mainly includes:Adding Algorithmic Market Operations module (AMO): Enhancing the stability and capital efficiency of HAY's peg to the US dollar.Developing a lending module: Planning to build a fully autonomous and decentralized lending market within the Helio protocol, and collaborating with multiple DEXs and lending platforms to enhance DeFi composability.Introducing Dutch auction mode in the liquidation module: Maintaining the lending LTV ratio to avoid bad debts.Integrating RWA: Tokenizing assets such as bonds from traditional finance to optimize reserves and reduce risks.Achieving multi-chain expansion: First expanding the Helio protocol to Ethereum, and then deploying on Layer 2 networks such as Arbitrum and zkSync.Previously, Helio received a $10 million investment from Binance Labs on August 11 to assist the protocol in its ongoing transformation into a liquid staking platform and to help Helio deploy on networks such as Ethereum, Arbitrum, and zkSync.

ChainCatcher news, according to Decrypt, Binance Labs has invested $10 million in Helio Protocol to help the protocol continue its transformation into a liquid staking platform. Helio is currently built on the BNB Chain, and this new funding is expected to help the platform expand to other networks, including Ethereum, Arbitrum, and zkSync.According to RootData information, Helio Protocol is the issuer of the over-collateralized stablecoin HAY. In July, Helio announced a partnership and merger with staking provider Synclub, and the newly established foundation will manage the complete revenue streams of Synclub and Helio.

ChainCatcher news, the liquidity yield protocol based on BNB Chain Helio Protocol announced a strategic merger with staking infrastructure provider Synclub. The two parties will establish a new foundation by the end of the year, responsible for overseeing the revenue and operations of both projects. If a governance token is launched, it will serve as the governance entity for the two projects under the foundation.It is reported that this merger aims to position Helio Protocol at the forefront of LST and stablecoin innovation, with upcoming plans including various LST collateral options, enabling HAY to be accessible across multiple blockchains, and introducing innovative use cases for HAY and SnBNB.

ChainCatcher news, the issuer of the over-collateralized stablecoin HAY on the BNB Chain, Helio Protocol, has established the Helio Treasury, with the treasury address being 0x00b22a426aC5928cA5cEb5FcfE9066587CbD0b26.Helio Protocol stated that initially, 10% of the accrued liquidity staking rewards will enter this pool to ensure there are reserves available for paying bug bounties, emergency operations, and other use cases. After the Helio governance is initiated, token holders will have governance power over this treasury. (source link)

ChainCatcher news, the issuer of the over-collateralized stablecoin HAY on the BNB Chain, Helio Protocol, tweeted that it has completed the first phase of the HAY buyback, having repurchased 6,843,422.97 HAY. The address used for the buyback is 0x3da1a58368767c9e6132e4ba4e23175c319e1de6. (source link)

ChainCatcher news, the BSC ecosystem stablecoin project Helio Protocol tweeted that the team is negotiating with the HAY attacker regarding potential transactions. More information will be released once a settlement is reached. Helio also stated that it is integrating Ankr's upcoming new BNB liquid staking token ankrBNB.According to previous news from ChainCatcher, on December 2, after the Ankr aBNBc Token attack incident, a certain address exploited the Ankr vulnerability to exchange 10 BNB for 15.5 million BUSD, causing HAY to temporarily depeg to $0.2084. Yesterday, Ankr announced it would use the recovery fund to repurchase the issued HAY, and Helio Protocol has repurchased approximately 3 million HAY, with plans to continue repurchasing. Currently, the price of HAY has risen back to $0.957, with a 24-hour increase of 2.9%. (source link)

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)

ChainCatcher news, the stablecoin protocol Helio Protocol in the BNB Chain ecosystem tweeted an update on the latest progress of the HAY peg recovery plan, stating that the team has initiated the process of peg recovery, which is expected to be completed by December 6. The official team will buy back excess HAY from the market and send it to a burn address to restore the HAY peg.In addition, Helio Protocol has committed to using its current and future revenues to cover any remaining bad debts. Coinmarketcap data shows that the price of HAY has rebounded to $0.8971.It is reported that after the aBNBc token attack incident of Ankr on December 2, HAY once depegged to $0.2084. Helio Protocol stated the next day that Ankr may bear the bad debts caused by the hacker attack. (source link)