Hubble Protocol
Crypto Overview
Overview
Hubble Protocol is a DeFi protocol built on the Solana blockchain that enables users to mint USDH, a crypto-backed stablecoin, by depositing multiple crypto assets as collateral. The HBB token serves as the protocol's governance token, allowing holders to participate in decision-making and earn rewards from protocol revenues.
Purpose and Utility
The primary functions of HBB token include governance rights over the protocol parameters, revenue sharing from protocol fees, and staking rewards. Token holders can vote on protocol upgrades, risk parameters, and other key decisions.
Business Model
The protocol generates revenue through liquidation fees, stability fees, and other protocol operations. These revenues are distributed to HBB stakers. The core business model revolves around providing DeFi services including stablecoin minting and borrowing.
Platform Development and Adoption
Hubble Protocol maintains active development on Solana, with regular updates and improvements to the protocol. The project has established partnerships within the Solana ecosystem and maintains transparent documentation of their development progress.
Token Distribution
HBB tokens were distributed across various stakeholders including team members, investors, and the community. The project implements vesting schedules for team and investor allocations to ensure long-term alignment of interests.
Crypto Impact
To assign a comfort level investing in Hubble Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Hubble Protocol.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.