Hubble Protocol's USDH is backed at least 150% by a basket of decentralized crypto assets including SOL, mSOL, BTC, ETH, RAY, SRM, and FTT. Additional tokens will be whitelisted for borrowing in the future after passing a rigorous vetting process.
USDH is a Solana-native SPL token that can be used for anything stablecoins are used for in DeFi: pairing for liquidity on AMMs, bonding for tokens, or held as a store of value.
Users can deposit USDH in Hubble's Stability Pool to earn a share of liquidations during market downturns. By helping cover bad debt and keeping the system healthy, Stability Pool providers gain access to bluechip tokens at a steep discount through liquidations