Former Babel Finance founder and CEO Flex Yang announced the launch of the stablecoin HOPE.
Flex Yang Announce New Stablecoin HOPE
The new stablecoin aims to facilitate the transition of traditional finance users to the crypto market and promote crypto adoption globally. The token will also serve as the native token of the ecosystem. The ecosystem aims to bridge the gap between centralized finance, traditional finance, and markets like DeFi.
About New Stablecoin HOPE
As we all know, stablecoins function as digital currencies pegged to the US dollar. The company’s new stablecoin will initially be used to create Bitcoin and Ethereum reserves. Once the first phase is complete, users will be able to access DeFi apps and stablecoins available in the ecosystem.
Flex Yang will be the first to invest in the stablecoin, which is expected to be supported by many investors. The management of the stablecoin will initially be undertaken by Flex Yang, with governance to be left to a DAO in later periods.
HopeSwap
After the stablecoin is backed by ETH and BTC reserves, users will be able to buy the stablecoin through HopeSwap, which will be the ecosystem’s first app. The platform will be built on the Ethereum blockchain, and users will be able to use AMMs.
Future plans for the ecosystem include HopeConnect, which will support derivatives trading applications, HopeLand, a lending platform, and third-party DeFi applications developed in the ecosystem.
About Ecosystem
The ecosystem is designed with traditional finance features that make it easy for CeFi investors to transition to DeFi. Their mission is to connect investors with DeFi who don’t know anything about traditional finance, central finance, and crypto. Since DeFi markets are usually used by crypto experts, the platform aims to make DeFi more understandable and easy to use.
Reference
Leave a comment