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

PancakeSwap Welcomes Helio Protocol Stablecoin ($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 liquid staking BNB tokens (at the moment, $aBNBc) on the Helio Protocol App.

The Syrup Pool:

Stake CAKE tokens to earn HAY tokens!

• Total Tokens: 450,000 HAY
• Distribution duration: 60 days
• Start time: Approx. 1100 UTC on 25 Aug 2022
• Finish time: Approx. 1100 UTC on 24 Oct 2022
• Token rewards per block: 0.2604 HAY

Max Stake per Wallet:

100 CAKE for the first 57,600 blocks (approx. 48 hours) after the Syrup Pool is launched, then unlimited CAKE staking after that.

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

The Farm:

For the HAY Syrup Pool, we’ll be providing a HAY-BUSD farm.

The farm will have 1x CAKE rewards for the first 48 hours, then 0.5x rewards after that. At the end of the 60-day period – approx. 1100 UTC on 24 Oct 2022 – the farm will be re-adjusted to a 0.1x multiplier unless the following metrics is comparable with other 0.5x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues etc.

What is “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. Destablecoins utilize decentralized, liquid staked, crypto assets only as collateral and do not aim to achieve absolute price stability with fiat-based currencies such as USD.

While destablecoins are not fully volatile assets, it will allow for some price fluctuations as regular fiat-currencies would experience with varying reference rates and interest rate paraties 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 deposit BNB as collateral on the protocol, liquidity mining on LP DEXes, a means of payment to transfer value for goods & services.

By supplying HAY back to the protocol as liquidity provider, users can enjoy around 7% ARY return in destablecoin HAY.

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

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

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

How do you stake CAKE to earn $HAY 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 an HAY token airdrop from another address, it’s probably a scam, and we advise you to ignore it.