Things are moving quickly, and we are all hands on deck, finalizing the last details for the monumental launch of USH on Mainnet, an event that will forever transform the MultiversX experience.
We are now thrilled to unveil our fresh USH website, which was crafted to provide users with a remarkable journey into the USH Ecosystem.
We invite you all to discover it at:
A V2 version of this website is also already in progress, introducing USH V2 and its upcoming facilitator, Proxy.
With only 11 days left until the big launch, we believe it's the perfect time to update you on all the USH and Booster V2 parameters and what everyone should expect.
To begin with, we want to emphasize the importance of the entire community participating on launch day and engaging with USH’s different modules.
If you have EGLD staked traditionally with a validator, now is the time to unstake and ensure your EGLD is ready to mint USH at 0% fees through the Isolated Pools. If you already have EGLD free in your wallet, you can still generate passive rewards on it by simply staking it through Hatom Liquid Staking and using sEGLD to mint USH through the Isolated Pools.
To remind everyone, USH can be minted with any of the assets accepted as collateral in the Hatom Lending Protocol:
• Mint USH at 0% interest through Isolated Pools using exclusively EGLD, sEGLD, wTAO, or swTAO.
• Mint USH at a fixed fee through the Lending Protocol (USH Pool) using any other assets as collateral except the ones used in the Isolated Pools.
Currently, the following fixed interest rates per asset will apply for USH minted through the Lending Protocol:
• Wrapped USDC: 10%
• Wrapped USDT: 10%
• Wrapped BTC: 15%
• Wrapped ETH: 15%
• UTK: 15%
• HTM: 15%
• MEX: 15%
As we mentioned in Protocol Update #10, the interest rates for both USDC and USDT to mint USH will be dynamically adjusted in the first few days to ensure market stability and prevent any significant impact on USH due to discrepancies between rates.
This short update won't be technical, so if you are looking for an explanation of what USH is and how it works, please read the following:
HTM Buy-Back & Flywheel Effect
Here we come to the most significant upgrade to Booster V1, which established HTM’s initial utility. Booster V2 is launching on Mainnet alongside USH, marking the beginning of a new era for HTM. From the launch date, all incentives across the Hatom ecosystem will be exclusively distributed in HTM, reinforcing its role as the central driver of value and sustainability.
We have always stood against traditional liquidity mining, opting instead for a self-sustaining model where incentives are directly tied to real protocol revenue. Now, we are taking this approach to the next level. Every dollar of revenue generated across Lending, Liquid Staking, and USH Facilitators will be used to buy back HTM from the open market and redistribute it as rewards, ensuring continuous demand and aligning incentives across the entire ecosystem.
With USH just days away from its Mainnet launch, the first major buyback is set to go live alongside it, initiating a reinforcing cycle of demand and rewards. Nearly 600,000 EGLD is already locked in Isolated Pools, with over $250,000 in rewards accrued. These funds, which have been collected but not yet distributed, will now be fully deployed for the inaugural buyback and distributed through the USH Staking Module, ensuring high yields for liquidity providers staking their USH LP or Farm Tokens.
This $250,000 represents an upfront yield accumulated before the protocol has even launched, but that is not all. From the moment USH goes live, the protocol is still generating yields, fueled by the continuous staked liquidity and operating independently of the initial rewards distribution.
Beyond the bootstrapping part, Isolated Pools and the Lending Protocol will further amplify the yields from day one, driving tremendous yet sustainable and long-term growth. Additionally, rewards will be converted on a daily basis, with all data transparently available on the Hatom Dune Dashboard and our Analytics Page, ensuring full visibility for participants.
More importantly, these incentives will not rely solely on private partners during the bootstrapping phase but will also be amplified by community participation from day one.
To illustrate the potential, remember Hatom’s initial private launch, where the protocol started with approximately $38 million in liquidity. Within just a few days of its Mainnet launch, liquidity surged past $100 million, peaking at $268,749,883 on 26/12/23 when the EGLD price increased.
This growth trajectory serves as a key indicator of the buyback module’s potential, especially since USH is set to become the most lucrative protocol on-chain. This expansion will be fueled by HTM and accelerated by Booster V2, an optimized distribution mechanism designed to drive a competitive yield market, ultimately creating even greater buying pressure on HTM compared to its initial version.
It is also worth noting that the fee-switch model, now widely adopted by leading protocols such as Hyperliquid, was adopted by Hatom over a year ago.
From the outset, our philosophy has been clear: protocol utility should be the primary driver of token growth, not just speculation. By ensuring real, sustained utility, we create organic buying pressure on HTM, reinforcing its long-term value and strengthening the broader ecosystem.
As we enter this next phase, rewards will continue to compound, creating even stronger incentives. Our main vision when designing everything now is to increase yield opportunities as much as possible in a sustainable way for the end user, while centering HTM at every front, from the buyback module to yield distribution decisions (through gauges and emissions announced in the latest Protocol Update) and through the fierce competition for yields created by Booster V2.
We're already gaining strong momentum with this release, but expect exponential growth in the next stages. Hatom and everything around it is built brick by brick, and we’re aiming for something truly game-changing.
This is just the beginning, as the HTM Flywheel is now in motion.
All Hatom product revenue is continuously recycled into HTM buybacks, creating constant organic demand. However, these rewards are not automatically distributed, as in order to capture real yield, users must stake HTM in the Booster, amplifying their positions and making HTM the gateway to maximizing protocol rewards.
As rewards grow, users face a strategic decision:
• Supply more liquidity in Hatom’s core products, increasing TVL and generating more protocol revenue.
• Stake more HTM to boost rewards, creating even greater buy pressure on the token.
This self-reinforcing cycle ensures that as the ecosystem scales, so does the demand for HTM. The deeper user participation becomes, the stronger the revenue engine grows, compounding every single day.
With recurring HTM buybacks, an expanding liquidity base, and a growing user base seeking yield, the Hatom ecosystem is now positioned for long-term, sustainable growth, one where value is not only created but continuously compounded.
All buybacks will be fully transparent and trackable via our Analytics page and the Hatom Dune Dashboard, providing real-time insights into protocol performance.
USH Staking Module Parameters
Based on the rewards already accumulated, the first month of incentivization is expected to follow this structure at launch, according to our latest estimates.
(Note: The distribution of rewards across pools and the different Booster batches is still subject to fine-tuning to ensure optimal impact and may be slightly adjusted at launch.)
• Unboosted Batch → 20% of All Rewards
• Base Booster Batch → 40% of All Rewards
• Extra Booster Batch → 40% of All Rewards
Following the same approach as Booster V1, a portion of the rewards will be allocated to non-boosted users to encourage everyone's participation and allow more users to experience the benefits of the Booster. Over time, these rewards will be gradually reallocated to the Base and Extra Booster Batches to enhance long-term efficiency.
Estimated Rewards Distribution & APR at Launch
For the first month, the estimated distribution of rewards and APR projections for a $1,000 initial LP at launch are as follows:
Please note that the APYs listed above represent rewards received in HTM tokens for providing liquidity in the USH Staking Module. These figures do not include any additional earnings generated by your LPs on exchanges, such as:
• Trading fees from providing liquidity
• Farm rewards generated from staking your LP tokens in the exchange
It’s also important to note (as explained in detail above) that the displayed APYs are based solely on the $250K in rewards generated during the Private Mainnet. You should also account for community participation and the ongoing daily buybacks.
Until governance over gauges and emissions is fully implemented, Hatom Labs will manage these parameters to optimize USH stability and adoption.
Booster V2 Parameters
Let's take a closer look at Booster V2, a game-changing upgrade that unlocks a more competitive landscape for those looking to actively engage with the Hatom ecosystem while maximizing passive income through the Booster mechanism.
Previously, the Booster model allowed users to deposit any amount of HTM, but only 10% of the deposited amount was considered, equivalent to the collateral they supplied in the Lending Protocol. While this structure provided some incentive, it significantly restricted the full potential of HTM, leading to inefficient capital utilization within the ecosystem.
With Booster V2, these limitations are being removed, creating a more optimized, strategic, and rewarding system for users. This upgrade ensures that participants can leverage their HTM holdings more effectively, unlocking higher yields, increased flexibility, and deeper integration with the broader Hatom ecosystem.
While the new structure introduces a more competitive model, everyone can still generate the Base Booster APR by staking 10%. However, those who stake above this threshold will have the opportunity to substantially increase their yield, creating a dynamic and incentive-driven environment.
The rewards generated will be directly correlated with the liquidity a user supplies to the protocol. Users who maintain an optimal ratio between supplied liquidity and staked HTM will maximize their yield potential. Conversely, staking a large amount of HTM with minimal liquidity will result in diminishing rewards, ensuring capital efficiency and fair distribution.
Booster V2 Audit Status
Since we encountered a delay in launching USH due to Booster V2's new implementations and audit requirements, we are happy to announce that the full audit for Booster V2 has been delivered, and the team is currently working on addressing all minor findings
Incentivized Testnet Rewards
We would like to express our gratitude to everyone who participated in the testing of USH and Booster V2. As we have outlined previously, a $10,000 prize pool will be shared among the top 100 addresses based on the number of transactions on the Devnet.
This announcement marks the end of the Incentivized Testnet, and we will distribute all prizes on March 4th, one day after all USH and Booster modules have been deployed on the Mainnet.
Dune Dashboard
We’re excited to launch our official Dune Dashboard, giving you real-time insights into the Hatom Ecosystem. Track key metrics, monitor performance, and explore in-depth analytics, all in one place.
Access all dashboards HERE.
Please note that the dashboard is continuously being improved with new data and remains a work in progress until the USH launch.
In the upcoming weeks, we will also provide additional facilitators and metrics dedicated to USH.
We're also working on releasing the Analytics Page, which will provide comprehensive data on every aspect of the protocol. This page will serve as a transparent and real-time hub for users to track yields, buybacks, liquidity metrics, Booster performance, and overall protocol activity, ensuring full visibility and informed decision-making within the Hatom ecosystem.
We strongly believe that USH is a key building block of an ecosystem built for resilience, efficiency, and long-term sustainability. Let’s strengthen ESDTs, protect their value, and boost their on-chain liquidity.
The next phase of our journey is about to begin, and we are excited to build this future together with our community. We count on everyone’s participation to make this launch a success. If you need to unstake, do it now, there is no time left!
Stay tuned and get ready for launch!
