1/ Dear Helio #Guardians, the team understands that the past few days have been extremely difficult.

As the situation is changing and dynamic, we would like to provide an update on our plan to recover the peg.
2/ Firstly, the team has already started our peg recovery process for $HAY, and this process is expected to be completed by Tuesday, December 6th UTC +4.

We expect HAY to be re-pegged, or at the very least, be close to the $1 mark.
3/This will be done by repurchasing the excess HAY in the market and sending it to a burn address.

We will also be providing the burn address in time to come for the purpose of transparency.
4/ At the same time, the team will continue to monitor the situation closely and update the community accordingly, should there be any changes.
5/ Lastly, Helio Protocol would like to assure users that the protocol itself will take on any remaining bad debt (should there be any left) though the use of our current and future revenue.

More details on this to come.
6/ We thank everyone for your continued trust and patience. It will take a few more days to restore $HAY back to $1.

We understand the community is anxious. Do not panic, and allow the team a few more days to execute our re-pegging strategy.
7/ We understand the importance of transparency, and we will continue to update the community on a daily basis when we have confirmation.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Helio Protocol ($HAY) 🔶

Helio Protocol ($HAY) 🔶 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Helio_Money

Dec 2
1/ The team at Helio Protocol is aware of the situation and we are closely working with @ankr to manage the situation and to support our community during this difficult time.
2/ To help HAY re-peg, @ankr will be buying as much of the excess HAY minted from the discounted aBNBc to be burnt.

This should be expected to take place over the next 24 hours.
3/ Helio Protocol and @ankr have also discussed a bilateral agreement where @ankr will be covering Helio Protocol's bad debt as a result of this exploit.

More details to be announced.
Read 5 tweets
Sep 29
Why is Helio Protocol perfect during a 🐻 market? (and not just 🐂)

Read the 🧵 below to find out!
2/ During a bear market aka when the market is down, people tend to hold their assets - finding a way to generate passive income during these times is key ($BNB). Image
3/ Helio Protocol is a great option if you hold extra $BNB as we help you gain the most yield possible 😉

helio.money/app/earn
Read 9 tweets
Aug 29
One of our main priorities with Helio Protocol is safety and the safety of our users ⛑

Let’s deep dive on smart contract safety 🧵 👇
2/9 What are smart contracts? ✍️

Smart contracts just like any contract establish the terms of an agreement. The terms are executed as code running on a blockchain.

They allow developers to build apps that take advantage of blockchain security, reliability and accessibility.
3/9 Why are smart contracts important?

They enable scalability, efficiency and decentralization with no middle man. Plus, they're fully transparent as they are based in fixed commands defined by lines of code.
Read 9 tweets
Aug 25
🔥 Helio Protocol has launched a syrup pool on @PancakeSwap - let’s recap on what Helio Protocol is, and what can $HAY holders expect from this partnership.

A 🧵 Image
2/9 Developed on the @BNBCHAIN, Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on their native destablecoin $HAY.
3/9 Destablecoin is a new asset class that is over-collateralized with liquid staked assets.

$HAY is an over-collateralized destablecoin, where 1 $HAY is always redeemable at $1 of cryptocurrency, and over-collateralized by $BNB.
Read 10 tweets
Aug 12
Real Yield explained and how does Helio Protocol offer It

A 🧵
2/5 Real yield is the return that a bond investor earns from interest payments after accounting for inflation.
3/5 How does Helio generates Real Yield with $HAY?

$HAY yield comes from Helio’s revenue pool, which is derived from $HAY’s borrowing interest and collateral being staked by Helio’s protocol.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(