Three years ago today, former US President Trump declared a state of emergency in the United States due to the new crown pandemic. At that time, global markets, including the crypto market, experienced extreme panic. Beginning on March 12, BTC plummeted by more than 50% within 2 days. Today, 3 years later, when CeFi institutions are gradually falling and the traditional banking industry is in crisis, the encryption industry is still shrouded in anxiety. The problems and deficiencies of the CeFi architecture are bringing more and more serious consequences.

Facing the anxiety of CeFi's inherent deficiencies and history repeating itself, the former PayPal founderFlex Yang tweeted today, announced the creation of a distributed stablecoin $HOPE with encrypted assets as reserves.

Flex said in his tweet: "CEXs, lending institutions, and now even banks, this industry has been continuously hit by the collapse of CeFi recently, and the potential risks of fiat currency stablecoins have also frequently caused shocks in the industry. The two concepts of modernization and encryption native are very popular, and the migration from CeFi to DeFi has been accelerated. However, existing DeFi applications often have complicated user experience and extremely high barriers to use. We need to build a A bridge to help existing CeFi and TradFi users enter the world of DeFi more easily.

Faced with many problems in the macro world and the encrypted world, $HOPE is a new direction. The short-term goal of $HOPE is to become a collateral or margin that has high liquidity, low lending threshold, and can be used in the three major fields of DeFi, CeFi and TradFi. In the long run, $HOPE will be built as a frictionless payment tool, allowing everyone to easily enjoy various financial services in a completely transparent and secure environment.

according toHOPE official websitesecondary title

$HOPE

$HOPE aims to become a distributed stable currency with encrypted assets as reserves. The initial reserve pool of $HOPE will consist of BTC and ETH in the form of distributed custody. The decentralized nature of $HOPE and the form of distributed hosting will avoid the impact of single point of failure to the greatest extent.

In the next period of time, the anchoring coefficient between $HOPE and the price of assets in the reserve pool will be determined by tracking the prices of BTC and ETH. After the anchor coefficient is determined, the reserve price of $HOPE will start from $0.5 and fluctuate with the prices of BTC and ETH. Flex said: "The bear market is suitable for construction. In order to ensure the sustainable and stable growth of $HOPE and the ecosystem, $HOPE aims to gradually reach anchoring as the market recovers." As the market picks up, the reserve price of $HOPE will gradually increase. A steady state of $1 is reached.

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$LT (Light Token)

$LT is the incentive and governance token of the HOPE ecosystem, which is used to motivate users, participate in the HOPE ecosystem and perform governance.

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HOPE Ecosystem

The HOPE ecosystem will consist of 4 major protocols, providing a complete and rich set of application scenarios around $HOPE and $stHOPE including exchange, lending, and margin, and encouraging users to participate in ecological applications and community governance through $LT.

HopeSwap

HopeSwap is an AMM Swap built on Ethereum, which is the gateway for users to the HOPE ecosystem. Users can quickly trade between $HOPE, $stHOPE, $LT and other assets, or provide liquidity for trading pairs to earn $LT rewards and fee sharing.

HopeLend

HopeLend is a multi-liquidity pool non-custodial lending protocol. Lenders can earn interest by depositing liquidity; while borrowers can provide mortgage assets to obtain over-collateralized loans.

HopeConnect

As the industry's first DeFi innovation protocol, users can trade derivatives on top CEXs through HopeConnect without centralized asset custody. This means that users can enjoy CEX-level liquidity and trading experience on a decentralized DeFi protocol without worrying about counterparty risks.

HopeEcho

HopeEcho will create synthetic assets that track real-world asset (RWA) prices, including stock indices, fixed-income instruments, commodities, foreign exchange, and more, greatly lowering the barriers to accessing TradFi services. Users who were previously excluded from TradFi's services will now have access to traditional financial services denominated in cryptocurrencies without actually owning those assets.

The future roadmap of the HOPE ecosystem also includes the casting and redemption of $HOPE, and plans to work with third-party developers to expand the HOPE ecological application landscape.

In his tweet, Flex also previewed the upcoming Twitter Space, where he will interact with the community online and answer many questions.

official pushofficial push。