Thread by @erd0xbc

The goal of @HatomProtocol is to empower DeFi on @MultiversX through various products, creating an ecosystem to attract liquidity without relying on liquidity mining or short-term incentives. It’s a complete, non-custodial lending protocol developed from scratch.

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1) The @MultiversX team has supported #HatomProtocol during development, such as deploying a #chainlink price oracle on the Devnet. They have also offered their full support & have been working closely to launch Liquid Staking.

2) Hatom Protocol is also partnered with @ash_swap, creating Liquidity Pools (LPs) for sEGLD/EGLD and HsEGLD/EGLD. This will be critical infrastructure, e.g., $20M LP in a stable swap DEX equals $200M on a regular DEX.

3) @HatomProtocol has been audited by @rv_inc and @peckshield. Runtime Verification has also invested in Hatom, making it the only project they have invested in until now.

4) Liquid staking & lending protocol integration provides added utility to $EGLD. Users can use it to earn more yields & as collateral to take out loans. It will also be integrated into @ash_swap. The goal is to create a Universal $sEGLD that will be used among all DeFi Apps.

5) The focus now is getting @HatomProtocol ready for mainnet. When the time is right, marketing will come in. Development is underway and will be launching in Q1 2023.

6) Liquid staking is a priority for @HatomProtocol because it solves many problems in growing DeFi in an ecosystem. Today, staking $EGLD is a use case that competes with other uses of $EGLD.

7) $sEGLD & $HsEGLD are tokens in the ecosystem; $EGLD is the native token of @MultiversX. $sEGLD value follows the APY of Liquid Staking, & the amount in your wallet is fixed. You can trade them for $EGLD on @ash_swap & migrate sEGLD to HsEGLD & vice versa with the #Hatom app.

This is just a bit of insight I was able to capture from following along in Telegram. Looking forward to the Q1 launch and exploring the progression of $HTM.

t.me/HatomProtocol