The HAY Side Pool on Wombat Exchange is operating normally again. Meanwhile, Ankr said it is working with Helio to repay $15 million in bad debt.
However, the BNB Chain stableswap and staking platform said its BNB Pool, featuring liquid BNB tokens from Stader, pSTAKE and Ankr, remains “on pause.”
For its part, Ankr said on Twitter that Helio will immediately cover the $15 million loss, and that Ankr will purchase $HAY over time using a $15 million recovery fund while working with Helio to repay the bad debt.
What is Wombat Exchange:
Wombat Exchange is a multi-chain stableswap focused on fueling DeFi growth and promoting its product’s scalability, accessibility, and efficiency in the multi-chain space. The protocol allows users to swap stablecoins at minimal slippage and stake at maximum yield.
For more information about Wombat Exchange, visit the following media links:
What is Ankr Protocol:
Ankr is a decentralized Web3 infrastructure for a better Web3 world. The protocol provides the most powerful multi-chain toolkit to access blockchain infrastructure, earn yields, and integrate DeFi solutions.
Where to find Ankr Protocol:
What is Helio Protocol:
Helio Protocol is a decentralized over-collateralized lending and liquid staking platform on the BNB chain. HAY is the protocol’s native destablecoin over-collateralized by BNB and is redeemable for US $1 worth of BNB. Its use cases include borrowing HAY at a collateral ratio ~152% (~66% LTV) by depositing BNB as collateral on the protocol, liquidity mining on LP DEXes, a means of payment to transfer value for goods & services.
To learn more about Helio Protocol, visit the following links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.