Metis CEG Program: CVP vote week 9: Hummus

After a short break due to attending conferences and assisting projects submit full proposals, we are glad to be back on our great CEG program that aims in giving the community the power to vote on Metis partnerships, we are pleased to present this week's CVP voting to the community. After an exciting Livestream on our CEG Governance Youtube;

Hummus is a stableswap protocol built on the METIS blockchain and a fork of Platypus Finance. Our goal is to offer simple, creamy stableswaps (USDT, USDC, DAI) with deep liquidity to the METIS community, allowing them the ability to capitalize on stable-based opportunities in a timely and cost effective manner. HUM is the native token to Hummus Exchange.

Features;

• Single Sided Staking
• Gamified Staking Boost through veHUM
• Flexibile Liquidity Pool
• Low Liquidity Fragmentation

Hummus for Stakers;

• Stake USDT/USDC/DAI without the risk of impermenant loss
• Earn HUM tokens and trading fees as staking reward
• Ability to stake HUM to receive veHUM
• Stake veHUM to enjoy a BOOST in staking rewards
• Withdraw the exact same number of tokens initially deposited (plus rewards)
• Participate in Hummus governance with veHUM

Hummus for Traders;

• Swap to and from USDT/USDC/DAI with minimum slippage
• Capital Efficiency
• Easy scalability of liquidity pools with new tokens

Hummus offers single sided staking which removes the risk of impermenant loss to the staker. It is common in liquidity provision to be required to pair two assets together. As the value of one asset, the other, or both, fluctuates, the liquidity value of the staker adjusts to maintain a balance. This creates the risk of impermenant loss, where one or both assets fluctuate significantly, leaving the staker with substantially less or one asset and substantially more of another. The impermenant part of the loss comes with the theory that if the staker were to hold the depressed asset for long enough and it’s price recovers, the loss is erased. Instead of pools of token pairs and bundles, Hummus Exchange uses accounts of tokens to record assets and liabilities, allowing single-sided liquidity provision, removing the risk of impermenant loss completely.

Exchange incentivizes users to stake their stablecoins into the protocol, with no risk of impermenant loss, creating deep stablecoin liquidity. The gamification of veHUM encourages the long-term staking of stablecoins within the protocol, minimizing volatility in liquidity. This liquidity is then enjoyed by the METIS ecosystem at large as a delicious and easy avenue for moving between stablecoins while preserving capital.

Satisfied to make Hummus a Community Verified Project? Let your vote speak!

Built for the people, run by the people.

-Team Metis