Proposal for a Helio Protocol Destablecoin ($HAY) Syrup Pool and Farm

PancakeSwap Welcomes Helio Protocol Destablecoin ($HAY) to Syrup Pool!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with Helio Protocol!

Helio Protocol is an open-source liquidity protocol for borrowing and earning yield on HAY, which is a “destablecoin” over-collateralized with liquid staked assets.

Users can mint HAY by depositing BNB or BUSD tokens on the Helio Protocol App.

The Syrup Pool:

Stake HAY tokens to earn CAKE tokens!

• Total Tokens: 27,900 CAKE
• Distribution duration: 80 days
• Start time: Approx. 1400 UTC on 31 Mar 2023
• Finish time: Approx. 1400 UTC on 19 Jun 2023
• Token rewards per block: 0.01210 CAKE

Max Stake per Wallet:

400 HAY for the entire duration of the Syrup Pool.

The cap is to give everyone an equal opportunity to farm rewards at a high APY.

The Farm:

In conjunction with the Stake HAY, Earn CAKE Syrup Pool, we’ll be providing a HAY-USDT farm.

The farm will have 1.4x CAKE rewards for the first 5 days, then 0.7x rewards for the remaining 75 days. During and at the end of the 80-day period – approx. 1400 UTC on 19 Jun 2023 – the Farm will be re-adjusted to a 0x multiplier unless the following metrics are comparable with other farms of a similar multiplier: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

What is a “destablecoin”?

From the team: “Destablecoin is a new type of asset class within the crypto space that seeks to label a more accurate term in the current stablecoin landscape.

The prefix “de-” stands for decentralized - it does not signify price volatility the way assets such as BTC experience, but serves to distinguish itself from legacy stablecoin products such as BUSD and USDC that are controlled by a centralized custodian. In contrast, destablecoins utilize decentralized, liquid-staked crypto assets as collateral and do not aim to achieve absolute price stability with fiat-based currencies such as USD.

Using the term “destablecoins” also signals the underlying risk of stablecoins and encourages users to invest more responsibly. It will allow for some price fluctuations as regular fiat-currencies would experience with varying reference rates and interest rate parities as defined by the open market.”

What is $HAY?

From the team: “HAY is Helio Protocol’s new destablecoin. Its use cases include borrowing HAY by depositing BNB or BUSD as collateral in the protocol, liquidity mining on LP DEXes, and as a means of payment to transfer value for goods & services. Users can also enjoy ~7% APR by staking HAY with the protocol.

A step-by-step guide to Providing Collateral, Borrowing HAY, Staking HAY, Farming HAY, Repaying HAY, and WIthdrawing Collateral can be found here”

To learn more, visit the project’s official channels:

• Website: https://helio.money/
• App: https://helio.money/app/loans/
• Medium: https://medium.com/@Helio-HAY
• Twitter: https://twitter.com/Helio_Money
• Telegram: https://t.me/helio_money
• Telegram CN: https://t.me/HeliomoneyCN
• Discord: https://discord.com/invite/k5JZVQYpUn
• Audits: https://docs.helio.money/security/

How do you stake $HAY to earn CAKE rewards?

Follow this guide to staking in Syrup Pools:

https://docs.pancakeswap.finance/products/syrup-pool/syrup-pool-guide

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official HAY token contract address on BNB Chain is:

https://www.bscscan.com/token/0x0782b6d8c4551B9760e74c0545a9bCD90bdc41E5

​Any other HAY token will be a scam. Always verify the token address before buying tokens. If you receive a HAY token airdrop from another address, it’s probably a scam, and we advise you to ignore it.