# Overview ### **Make your crypto work for you with Hubble Protocol.** Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble's core product is USDH, a decentralized stablecoin that can be borrowed against your crypto assets. Users can deposit multiple crypto assets like SOL, ETH, and kTokens to borrow USDH. In turn, USDH can be used to serve various purposes across Solana DeFi. Hubble will offer multiple USDH borrowing vaults, with various asset combinations and vault-specific parameters such as [Stability Fees](/faq/usdh-peg-stability/stability-fees) and Deposit Caps. USDH borrows are guaranteed by a combination of Hubble's [USDH Vault](/faq/usdh-vault) (Stability Vault), and bots that facilitate market-based liquidations. The USDH that users deposit into the USDH Vault is used to pay off bad loans, while depositors earn a net positive \~10% difference in liquidated assets. In the coming phases of development, the protocol will launch various products and services to bring further utility to the platform, and USDH itself. #### Borrowing made easy, cheap, and attractive SOL, BTC, ETH, etc. holders, motivated to keep the upside to their portfolio, can deposit their assets and borrow USDH to use it across various protocols on Solana. While a user's loan is active, their assets retain full exposure to the market. \ \ Upon paying back their debt, users will regain access to their collateral. If the value of their collateral increased while it was deposited, they receive that entire value back upon repaying their debt. Loans have no fixed maturity, so debt owners can pay back their debt whenever they wish. #### Earning yield on collateral In addition to keeping the upside on collateral, users can earn yield on their deposits. At present, this is facilitated by Hubble's onboarding of yield-bearing collateral. Hubble currently accepts [mSOL](https://marinade.finance/app/staking/), [stSOL](https://solana.lido.fi/) and [daoSOL](https://daopool.monkedao.io/) as collateral, with numerous other yield-bearing assets being onboarded imminently. In the future, users will be able to opt-in to have their collateral allocated to partner protocols to earn yield. Users will have the freedom to choose from multiple yield-earning strategies. [*Jump to Collateral Yield Section*](/faq/borrowing/collateral-yield) #### Governance for the benefit of the community Decentralized governance, in order to be meaningful, needs to allow the most active participants in the community to have an effective voice. To incentivize participation we are combining features of existing models that we find work best, especially: * General directive proposals where development work from the core team is dictated by the community, once a quarter. * Group proposals where the community can unite to make a proposal even if individual voters wouldn’t have enough voting tokens. If you still have questions after browsing our FAQs and documentation — [join our Discord](https://discord.gg/C4jzzFfVRZ)! # Why Use Hubble? Instead of just holding your tokens in a wallet, you can make them work for you. #### Keep upside to your collateral while earning yield elsewhere Take a loan in USDH and use it across Solana to earn yield. Once you are done with that position, you can return to Hubble and pay back your debt. At the end of the process you have your collateral back and the profit from deploying your stablecoins in DeFi. If your collateral has increased in price, you have benefitted from that price action as well. #### Earn yield on collateral Hubble accepts a variety of yield-bearing collateral assets, such as [mSOL](https://marinade.finance/app/staking/), [stSOL](https://solana.lido.fi/) and [daoSOL](https://daopool.monkedao.io/), with more assets being actively onboarded. These assets can be deposited in Hubble to mint USDH, and will retain exposure to the staking APY. In the future, users will have the ability to allocate their collateral assets to various yield strategies, which will utilize their assets in one of Hubble's partner protocols. #### Get leveraged Hubble has various LTV (loan-to-value) ratios across different vaults and assets. This ranges from 97% for kTokens, to 80% or lower for volatile assets. These LTVs allow you to leverage your assets according to your risk appetite. Note that we recommend caution when leveraging your positions. #### Earn from democratized liquidations Deposit USDH into Hubble's USDH Vault (formerly Stability Pool) and help keep the platform healthy by guaranteeing loans are repaid. As a reward, USDH Vault providers earn a net positive \~10% difference from liquidated accounts. The USDH Vault liquidation model works in combination with market-based liquidations to ensure protocol solvency. **Security** Hubble exercises extreme caution in its development process. No single line of code is deployed if it has not been subject to our testing process. Hubble does not buy into the "move fast and break things" ethos. Typically, robust updates and features are delayed until they have gone through an independent security audit. Thus far, Hubble's code base has undergone 5 security audits. **USDH Peg Stability** Since Hubble's launch in January 2022, the USDH peg has been remarkably stable despite turbulent market conditions. USDH now maintains its peg primarily via Hubble's [Peg Stability Module](/faq/usdh-peg-stability/peg-stability-module) (PSM), a peg-stabilizing mechanism initially introduced by MakerDAO. The PSM allows for zero-slippage swaps between USDH and USDC, enabling frictionless below and above-peg arbitrage. Alongside the PSM, Hubble can use [Stability Fees](/faq/usdh-peg-stability/stability-fees) and the [Hubble Native Yield](/faq/usdh-vault/hubble-native-yield) (HNY) to impact USDH demand and thus USDH peg. # General ### **What is Hubble Protocol?** Hubble is a decentralized finance (DeFi) protocol built on the Solana blockchain. In Phase 1 of development, Hubble enables you to borrow USDH against multiple assets. Borrowing USDH allows users to access the liquidity (cash on hand) in their long-term holding tokens. ### **What can I do on Hubble?** With Hubble’s borrowing platform, you can: * Borrow USDH for as long as you’d like * Deposit multiple cryptos to mint USDH: SOL, ETH, mSOL, stSOL, daoSOL, cTokens from Solend, and kTokens from Kamino * Yield positive interest on collateral deposits (earn while you borrow) * Earn from liquidations by depositing USDH in the Stability Vault (formerly Stability Pool). ### How do I use Hubble? Hubble has its own [decentralized application](https://app.hubbleprotocol.io/) (dApp) where all our services are available in a single integrated platform. To use Hubble, all you need is a Solana wallet, SOL to pay for gas, and any of the tokens accepted for borrowing on Hubble. ### Why should I borrow through Hubble? Hubble combines several features into one [borrowing platform](https://blog.hubbleprotocol.io/hubble-defi-borrowing-solana/) that increases capital efficiency in multiple ways. If you want to go long on SOL, Hubble lets you hold onto your SOL as it appreciates in value while borrowing USDH to deploy in DeFi. Borrow USDH while you yield. You can earn interest from liquid staking tokens like mSOL, stSOL, and daoSOL or from lending with Solend cTokens while borrowing USDH at the same time. With kTokens, you can earn yield from Kamino vaults while leveraging your position up to 20x with USDH. ### **Where can I find Hubble’s market cap and current supply?** Our market cap and supply can be viewed live on [Solscan](https://solscan.io/token/HBB111SCo9jkCejsZfz8Ec8nH7T6THF8KEKSnvwT6XK6)**.** # USDH Stablecoin ### **What is USDH?** USDH is a censorship-resistant, crypto-backed stablecoin, soft-pegged to the US Dollar. USDH is fully collateralized by a basket of crypto assets, deposited into a Hubble Smart Contract. USDH is Solana-native, and can be held in any Solana wallet. For every 1 USDH on the market, more than $1 of crypto is deposited into Hubble. All USDH in existence is minted from Hubble Protocol. Users can mint USDH by depositing their crypto assets into Hubble. By depositing collateral, a user enables the minting of USDH, thus bringing more USDH into circulation. ### Why USDH? As in Traditional Finance, a Decentralized Financial System requires a stable currency. USDH is a Solana-native stable token that can be a store of value, a medium of exchange, or a unit of account in Decentralized Finance. Once acquired, either by minting from Hubble, swapping on the open market, or receiving it from another entity, USDH can be used to earn yield across Solana, as means of payment, or to earn native rewards on Hubble via liquidations and the Hubble Native Yield. # Acquire USDH USDH can be acquired in two ways: Borrowing and Exchanging. ### Borrowing USDH #### Borrowing on Hubble USDH can be borrowed (minted) by depositing your crypto assets on Hubble Protocol, and taking a USDH loan in return. Your loan will remain active until your USDH debt is repaid, or your position is liquidated. While your loan is active, you can manage your position by repaying USDH debt or borrowing more USDH, as well as by depositing additional collateral or withdrawing a portion of collateral. #### Borrowing platforms USDH can be borrowed from other borrowing platforms like Solend and Port Finance. We advise users to take precautions with regards to smart contract risk beyond Hubble itself, as Hubble Protocol has no control over external smart contracts.
Where to Borrow USDH [**Solend**](https://solend.fi/) Deposit/Borrow USDH and various other assets [**Port**](https://port.finance/) Deposit/Borrow USDH and various other assets
### Exchanging for USDH USDH has strong liquidity across the Solana ecosystem, and can be easily acquired via Decentralized Exchanges.
Where to Exchange for USDH [**Jupiter**](https://jup.ag/) The most widely used aggregator on Solana. [**Raydium**](https://raydium.io/) Automated Market Maker (AMM) Decentralized Exchange (DEX) [**Orca**](https://www.orca.so/) AMM DEX / Concentrated Liquidity Market Maker (CLMM) [**Saber**](https://saber.so/) Stable pair DEX [**Mercurial**](https://www.mercurial.finance/) Stable pair DEX [**Crema**](https://www.crema.finance/) CLMM
# Use USDH Once you have USDH on hand, it can be used as: * A store of value to earn yield across various protocols on Solana * A medium of exchange to send to other users * As a means of payment for services USDH can also be deposited in Hubble to earn liquidations rewards. ### **Where can I use USDH?** [**Raydium**](https://raydium.io/) Automated Market Maker (AMM) Decentralized Exchange (DEX). Provide USDH liquidity for rewards. [**Orca**](https://www.orca.so/) AMM DEX transitioning into Concentrated Liquidity Market Maker (CLMM). Provide USDH liquidity for rewards. [**Saber**](https://saber.so/) Stable pair DEX. Provide USDH liquidity for rewards. [**Quarry**](https://app.quarry.so/#/rewarders) Yield farming, built on Saber. Deposit USDH LP tokens for rewards. [**Mercurial**](https://www.mercurial.finance/) Stablecoin DEX. Provide USDH liquidity in USDH-USDC-USDT 3-pool. [**Solend**](https://solend.fi/) Borrow/Lend platform. Deposit/Borrow USDH and various other assets. [**Port**](https://port.finance/) Borrow/Lend platform. Deposit/Borrow USDH and various other assets. [**Crema**](https://www.crema.finance/) CLMM. Provide USDH liquidity. # Borrowing ### **How can I borrow on Hubble?** Here is a blog tutorial on [How to Use Hubble](https://blog.hubbleprotocol.io/how-to-defi-usdh/). You can borrow USDH on Hubble as follows: 1. Navigate to the [Hubble App](https://app.hubbleprotocol.io/) and go to the Borrow section. 2. Choose how much collateral you would like to deposit from the different accepted tokens you own. 3. Choose how much USDH you would like to borrow against your collateral. 4. Click Borrow to open your position. ### **What is the minimum I can borrow?** The minimum borrowing amount is 2 USDH, which equates to $2. This also means that the minimum position in your account needs to be 2 USDH, and you cannot repay USDH to have a borrow of <2 USDH. You may need to acquire a small amount of USDH from the market to repay your whole debt, since you owe a fee plus the amount you borrowed. If it seems like you cannot repay your loan in full, this might be the case. ### **What is the maximum I can borrow?** At present, you can borrow as much USDH as you are able to provide collateral for. If you can provide $10 million worth of SOL, you can borrow 8 million USDH. We are in the process of implementing withdrawals caps across all assets in the protocol, including USDH. This is to prevent malicious actors from taking advantage of an exploit such as [infinite mint](https://coinmarketcap.com/alexandria/glossary/infinite-mint-attack). ### **What is loan-to-value?** Loan-to-value, or LTV, is the total value of borrowed USDH compared to the total value of collateral deposited. LTV is expressed as a percentage. LTV can be calculated as follows: ![](https://1947729589-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FyIf1jDNBmx2V2K9HSZqb%2Fuploads%2FbQ9dTbhc1vS7uVUoy3JW%2Fimage.png?alt=media\&token=144319c6-cab4-4e55-abae-c232d8ad2c15) So, if a borrower deposits $200 SOL and borrows 120 USDH: ![](https://1947729589-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FyIf1jDNBmx2V2K9HSZqb%2Fuploads%2Fr6I1gUaGc04pZ0zJg8Sc%2Fimage.png?alt=media\&token=b74d3830-6563-4479-90a2-d1f9ea49997b) The borrower now has a 60% LTV. Assuming an 80% maximum LTV, the borrower has 15% borrowing power remaining. If the borrower's LTV rises above 80%, they will be liquidated. ### **What can be considered a ‘safe’ LTV ratio?** Different users will have different risk thresholds/opinions on what is a safe LTV. Make sure you understand how liquidations work on Hubble and how this fits into your approach to risk. ### **Is there a maximum loan duration?** No. Your loan can remain open for as long as you want, provided that your loan-to-value (LTV) remains below the maximum LTV for the specific vault. # Borrowing Fees ### **What fees are involved in using Hubble?** Hubble has a hybrid fee system, consisting of a one-time Minting Fee, and Stability Fees. Both fees are reflected in the USDH debt on a loan. ### **Minting Fees** All loans on Hubble are subject to a minting fee that varies by vault. This fee is added to a user's debt at the time of minting, and is not recurring. For example, if a user borrows 100 USDH against SOL, their debt will be 100.5 USDH, accounting for the 0.5% minting fee applied to the DeFi Treasury vault. > Note, if a user has an active loan, and borrows additional USDH on that loan, the 0.5% Minting Fee also applies to that borrowing action. ### Stability Fees Stability Fees are synonymous with Interest Rates, and are referred to as Stability Fees as these fees play a part in USDH peg stability. Like Interest Rates, if your loan is subject to a Stability Fee, your debt will increase over time. Stability Fees vary between vaults. Vaults that contain high-risk assets will typically have higher Stability Fees than vaults with low-risk assets. Stability Fees can be used to adjust USDH demand and supply, and can be adjusted at any time. Once governance is active, Stability Fee adjustments will be subject to governance votes. [*Jump to Stability Fee Section*](/faq/usdh-peg-stability/stability-fees) # Collateral ### **What does collateral mean?** In short, collateral refers to any assets a borrower must provide as security for their USDH loan. Collateral ensures that a borrower will repay their loan. #### Collateral Explained: Collateral ratio (CR) is the dollar value of your deposited assets compared to the value of USDH you have borrowed. Another way to measure borrowing is loan-to-value (LTV). For example, a 125% CR is equal to a 80% LTV. These ratios can fluctuate as the value of your assets changes in the market, so we encourage you to stay up to date with your position. You can also increase your collateral ratio (lower your LTV), either by depositing more assets, or repaying parts of your USDH debt. Collateral ratio mirrors loan-to-value. If your CR increases, your LTV decreases, which means you are safer from liquidation. Hubble prefers to monitor LTV, mainly because it gives you a better idea of how much you have borrowed vs. how much you are allowed to borrow. ### **What tokens does Hubble accept as collateral?** Collateral can be provided in the DeFi Treasury with SOL, ETH, mSOL, stSOL, and daoSOL. Solend cTokens and Kamino kTokens can be deposited into separate vaults. The protocol will be onboarding various new assets going forward, provided they are deemed safe to onboard. # Collateral Yield ### **What does it mean to earn yield on collateral assets?** Hubble accepts a variety of yield-bearing collateral assets, such as [mSOL](https://marinade.finance/app/staking/), [stSOL](https://solana.lido.fi/) and [daoSOL](https://daopool.monkedao.io/), with more assets being actively onboarded. You can stake your tokens in our partner protocols, and bring your liquid staked assets to Hubble to mint USDH. While deposited, your assets will continue to earn yield. In the future, when depositing vanilla SOL, we can delegate it to PoS yield staking protocols (such as Marinade) to earn yield. Other tokens, like BTC and ETH, can be delegated to partner lending platforms. You will be able to change the yield strategy or withdraw your collateral at any time. ### **How can I start earning yield on my collateral?** By depositing mSOL, stSOL and/or daoSOL to mint USDH on Hubble, your collateral will generate yield from Solana's PoS staking rewards. These token will automatically grow in price relative to SOL, as the staking rewards are reflected directly in the token value. ### **On which collateral assets can I earn yield?** The number of assets that can earn yield will increase as Hubble’s partnership portfolio increases. Eventually, our goal is to have yield strategies available for all the tokens accepted on the platform. ### **Does yield strengthen my LTV/Collateral ratio?** Yes. Your earned yield will increase the health of your account as it increases the value of your collateral. You can even use the additional value from a yield strategy to help pay down your USDH loan. # Loan Auto-close One click loan close without requiring any asset in your wallet Hubble's auto-close feature is a quality-of-life feature on the protocol that enables users to settle their loans without having USDH or collateral on hand. In short, auto-close means that, should a user have their USDH deployed elsewhere, they can still close their position and withdraw their remaining collateral. At present, this is available for all loans with one asset as collateral. Eg. only SOL, or only mSOL, not both. Auto-close is facilitated by flash loan transaction that contain numerous instructions. Specifically, the auto-close steps occur as follows: 1. A flash loan is initiated, in USDH, from a general-purpose lending market. Now we have an open loan that we need to repay before the end of current transaction. The borrowed amount is equal to the debt that the Hubble loan has. 2. This newly borrowed USDH is used to repay your Hubble debt. Now the Hubble loan has no more debt. 3. With Hubble debt rapid, your total collateral is all withdrawn (and your loan is now closed). 4. Part of withdrawn collateral is swapped to USDH using Jupiter in order to to repay the original loan taken in Step 1 (including fees). You will have remaining collateral (essentially the net equity) that will stay in your wallet. 5. The USDH from Step 4 is used to pay the debt taken at Step 1 (including fees). The flash loan is now closed. The rest of your collateral is returned to you. The loan will now be closed, and the flash loan repaid. All of this happens when a user clicks the "Close Loan" button, all within a single atomic transaction. Note: flash-loan fees are typically 0.3% of the borrowed amount. ## Auto-close Example (with Illustrations) **Step 1:** User has a loan with: * $25.77 collateral, stSOL only * 10.05 USDH Debt * 0 USDH in Wallet * **$16.25** Total In wallet + **$15.72** Equity Value on Loan = **$31.97 Net Value**
**Step 2:** * User enters loan management interface and navigates to dropdown
**Step 3:** User Clicks to `Close Loan` * Flash loan is initiated at this point * [Steps 1 - 5](#flash-loans-and-auto-close), mentioned above, take place * After confirming in wallet, user receives a combination of stSOL, USDH, and SOL
**Step 4:** Loan is Closed * Debt is repaid, and collateral withdrawn * Total Equity = $32.24
# Stability Vault ### **What is the USDH Vault?** The USDH vault allows users to deposit their USDH to: * Earn Liquidations Rewards * Earn Hubble Reward Rate **USDH Vault Liquidations** In Hubble's initial model, the USDH vault was the sole venue of liquidity to fund liquidations. Vault liquidations are no part of Hubble's hybrid liquidation model, where certain assets are liquidated via the Vault, and other are liquidated via bots that facilitate market-based liquidations. By staking USDH to the Vault, users can earn crypto at a discount via liquidations. **Hubble Native Yield** The Hubble Reward Rate (HNY) is a percentage APY that is allocated to USDH Vault stakers. The HNY is adjustable, and can be used to adjust USDH demand. Once governance is active, users will be able to vote on the HNY. ### **Is there a minimum or maximum contribution to the USDH Vault?** No. USDH Vault providers can deposit any amount of USDH. ### **How do I get USDH to contribute to the USDH Vault?** USDH can be borrowed on Hubble against collateral assets via the [Borrowing tab](https://app.hubbleprotocol.io/). USDH can also be swapped for on platforms like [Mercurial](https://mercurial.finance/), [Jupiter](https://jup.ag/swap/SOL-USDH), and [Saber](https://app.saber.so/#/swap). ### **Does my USDH Vault deposit get locked in?** No. At the moment you can deposit and withdraw USDH from the USDH Vault at any time. There is no lock-in period. # Stability Vault Liquidations ### **What are liquidations?** Liquidations occur when an open position reaches the maximum LTV of a given vault. This means a user doesn't have enough collateral to support their borrowing. Liquidations occur when the crypto market goes down in value. You can deposit $1,000 worth of SOL on Monday, and on Wednesday that value can be $800. If the value of your deposit gets too low and you do not pay back USDH, your deposit will be forfeited. Head to the [Liquidations section](/faq/liquidations#how-do-liquidations-work) for more info. ### How do USDH Vault liquidations work? The USDH Vault (formerly Stability Pool) acts as an automatic liquidator in Hubble's hybrid liquidation model. USDH is designed to be backed by collateral at all times, and the USDH Vault helps guarantee this backing. Users can provide USDH to the USDH Vault to earn liquidation rewards received in collateral assets. When a liquidation is triggered, USDH is burned to cover a liquidated user's debt, and forfeited collateral is distributed to USDH Vault providers. As USDH Vault providers' USDH deposits decrease, their liquidation rewards increase. The tokens earned as liquidation rewards should be \~10% more valuable than the amount of USDH burned at the time a liquidation is triggered. ### Which assets are liquidated via the USDH vault? All assets from Hubble's DeFi Treasury. ### **How are liquidation rewards allocated to the USDH Vault?** Liquidation rewards are awarded proportionally to your % contribution to the pool. If your contribution constitutes 1% of the USDH Vault, you will receive 1% of all liquidation rewards. ### **Do USDH Vault providers make net gains from liquidations?** Yes. If a liquidation occurs, a USDH Vault provider's USDH balance will decrease, but the net value of their account will increase. For every 1 USDH paid, USDH Vault contributors receive $1.1 worth of collateral. Essentially, contributors receive other users' collateral assets at a 10% discount. \ \ Here’s an [overview](https://hubble-markets.gitbook.io/hubble-protocol-official-docs/about-hubble/stability-pool) of our USDH Vault. ### **What happens with liquidations when the USDH Vault is empty?** When the vault is empty, liquidations are redistributed amongst all debt holders. This means that both the collateral assets and the USDH debt of the liquidated position are distributed amongst current borrowers. A full explanation of Redistribution is available [here](/faq/liquidations/redistribution). # Stability Vault Model Liquidation How the USDH Vault maintains system health and rewards Hubble's users. ### Stability Vault Liquidations In order to clear bad debt, USDH from the USDH Vault is burned and collateral is redistributed. In Hubble's original pool, the maximum LTV is 80%. Assuming an 80% LTV, USDH Vault providers essentially receive crypto assets for a \~10% discount. When liquidations are triggered, the balance of each USDH Vault provider's USDH deposit decreases proportionately to the amount of debt being cleared. At the same time, users receive liquidated assets in direct proportion to their contribution to the USDH Vault. For example, if a liquidation equals 10% of the total USDH deposited in the USDH Vault, 10% of each USDH Vault provider's USDH deposit is burned. If a user has deposited 5% of the USDH in the USDH Vault, they will receive 5% of the 89.5% of the assets liquidated (the other 10% is returned to the user, with another 0.5% going to the liquidator). Here is an example of five USDH Vault positions before liquidation: ``` User#1 User#2 User#3 User#4 User#5 USDH Deposit 1500 2500 3500 2000 500 % of SP 15% 25% 35% 20% 5% Total $Value $1500 $2500 $3500 $2000 $500 ``` A position is liquidated that has minted 800 USDH with 10 SOL deposited (1 SOL = 100 USD). The user who triggered the liquidation receives .05 SOL. There is now 800 USDH to clear and 8.95 SOL to distribute to USDH Vault providers. 800 USDH is 8% of the USDH Vault, so 8% of each user's deposit will be burned, and then each user is rewarded their fair share of the 8.95 SOL. Here is the USDH Vault after liquidation: ``` User#1 User#2 User#3 User#4 User#5 USDH Deposit 1500 2500 3500 2000 500 % of SP 15% 25% 35% 20% 5% USDH Burned 120 200 280 160 40 USDH Balance 1380 2300 3220 1840 460 Liq. Reward 1.3425 SOL 2.2375 SOL 3.1325 SOL 1.79 SOL .4475 SOL Reward $Value $107.4 $179 $250.6 $143.2 $35.8 Total $Value $1607.4 $2679 $3750.6 $2143.2 $535.8 ``` Notice that: * Each user has a lower USDH balance after clearing a liquidation. * Each user has increased the total dollar value of their position. # Hubble Native Yield ### What is the Hubble Native Yield? The Hubble Native Yield, or HNY is a variable % yield that will be paid to USDH Stakers. In addition to earning liquidation rewards, USDH Vault depositors will earn yield that will be funded directly from the protocol's Stability Fees. ### What is the purpose of HNY? The purpose of HNY is two-fold. HNY is a means of incentivizing users to stake USDH, which is necessary to liquidate positions in the Main Vault. The HNY can also allow the protocol to adjust USDH demand, which plays an important part in the USDH peg stability. Alongside the Peg Stability Module and Stability Fees, the HNY is a way of ensuring that USDH remains pegged to the US Dollar. ### How can HNY impact USDH demand and peg? HNY follows the same economic principal as interest rates. Whereas Hubble's Stability Fees reflect the accrual of debt caused by interest, the HNY reflects the upside of interest rates. #### Increasing the HNY When the HNY is increased, the demand for USDH should theoretically rise, as users are incentivized to acquire USDH and stake it in the USDH vault to earn HNY. This increase in USDH demand should cause the USDH peg to rise. When interest rates are increased, the US Dollar should strengthen (increase in price) due to the appeal of earning higher interest. Similarly, an increase in the HNY should see the USDH price increase. Typically, the HNY will only be raised when USDH is below peg (i.e. when USDH supply outstrips USDH demand). #### Decreasing the HNY When the HNY is decreased, the demand for USDH should theoretically decrease, as users currently staking USDH in the USDH Vault will withdraw their USDH and exchange it for a different token, in search of earning opportunities elsewhere. This will cause the USDH peg to decrease. As in the previous example, a decrease in US interest rates should lower the appeal of the US Dollar and, similarly, a decrease in the HNY will lower the appeal of USDH Staking. Typically, the HNY will only be lowered when USDH rises above peg. ### Is HNY the only pegging mechanism for USDH? No. USDH has three mechanism for mainting USDH peg ### How do I earn HNY? Once Stability Fees are active, USDH Vault stakers will automatically start earning HNY. ### Can I earn HNY without staking? No, to earn HNY, you have to stake your USDH in the USDH Vault. # USDH Peg Stability ### **How can USDH fall below peg?** The demand for USDH dictates its price. When many users or one large transaction swaps out of USDH for other tokens, this puts downward pressure on USDH's price, and it can dip below $1. Here’s a comprehensive explanation in our [USDH doc](https://hubble-markets.gitbook.io/hubble-protocol-official-docs/about-hubble/usdh). ### **How can USDH climb above peg?** Demand dictates price. When USDH is heavily bought on the market (demand increases) the price of USDH can climb above $1. ### How does USDH maintain its peg? 1. **Peg Stability Module**\ The Peg Stability Module is Hubble's primary pegging mechanism, allowing zero-slippage swaps between USDH and USDC to allow frictionless arbitrage.
2. **Stability Fees**\ Hubble has a Stability Fee, acting as an interest rate, that can be increased if USDH falls below peg. The Stability Fee incentivizes users to repay their loans, which can help reduce USDH supply on the market when necessary.
3. **Hubble Native Yield**\ USDH Vault stakers earn a an adjustable % yield referred to as the Hubble Native Yield (HNY). The HNY can be manually adjusted to increase or decrease rewards, thus increasing or decreasing USDH demand. ### Has USDH ever de-pegged? USDH has never experienced a serious de-pegging event. During the earliest days of the protocol, when there was little USDH liquidity, the trading price of USDH was above peg by a few cents at one point. USDH has since held a tight peg, and it remained pegged during two turbulent market periods: between April and June 2022 then November 2022. # Peg Stability Module ### What is the Peg Stability Module? The Peg Stability Module (PSM) is one of the mechanisms responsible for maintaining the USDH peg. The PSM is designed to facilitate fixed-rate swaps between stablecoins, with the express purpose of allowing for seamless arbitrage between USDH and another stablecoin. Initially, the PSM will allow for swaps between USDH and USDH. The PSM will have zero-slippage, making it more attractive for arbitrageurs to use the PSM instead of the open market. The PSM functions like a vault with a 0% Stability Fee and 100% LTV. However, instead of users retaining ownership of their USDC while borrowing USDH, the USDC is swapped directly for USDH. ### Why a straight-swap instead of accepting stablecoin collateral? Accepting stablecoin collateral in high-LTV vaults is possible. However, as was experienced by MakerDAO, the Stability Fees on these vaults run the risk of pushing the vaults over the 100% LTV ratio, thus pushing the debt higher than the collateral assets backing the debt. ### What are the fees involved with the PSM? Users can take two actions in the PSM: Deposit another stable and mint USDH, or deposit USDH and redeem another stable. Initially, the fees will be: * 0 bps (0%) for depositing another stablecoin to mint USDH * 50 bps (0.5%) for depositing USDH to redeem another stablecoin ### What are the risks of the PSM? The primary risk is that Hubble will take in another stablecoin when USDH is below peg. This means that USDH effectively becomes "backed by" this stablecoin. Initially, the only stablecoins in the PSM will be USDH and USDC. The risk of taking on large amount of USDC is that USDC accounts are susceptible to being frozen. We acknowledge this risk, and believe that it is worth making this trade-off if it implies a strong peg for USDH. ### What are the benefits of the PSM? The primary benefit is that the risk-free, zero-slippage mechanic of the PSM allows for frictionless arbitrage, making it easier for arbitrage to take place on USDH. # Stability Fees ### What are Stability Fees? Stability Fees act as annual interest rates within the Hubble system. When a user deposits collateral and takes a USDH loan, the Stability Fee will be clearly indicated on the borrowing page, as well as the loan management page. If Stability Fees are active on a certain loan, it means that the debt on that loan will gradually increase. In its current iteration, the protocol has one, main borrowing vault, with a 0% Stability Fee. However, Hubble will soon be opening various vaults with different asset combinations in each. The Stability Fees on these vaults will differ depending on the risk profiles of the assets within the vault. Typically, assets with a perceived higher risk will have a higher Stability Fee. ### Will Stability Fees be a global parameter? No. Stability Fees will vary between different vaults. Adjusting the fee on a certain vault will have no impact on the fee in other vaults. ### How can Stability Fees impact USDH peg? When USDH is below peg, Stability Fees can be used to increase USDH demand on the market. An increase in the Stability Fee should theoretically incentivize borrowers to repay their loans, as users are averse to seeing their debt accumulate. In theory, the USDH demand on the market should increase as borrowers acquire USDH to repay their debt. A higher Stability Fee should also disincentivize users from using that specific vault, thus preventing further USDH flowing into the open market. ### Where do Stability Fees go? Stability Fees will be divided between three parties: * Stability Vault stakers via the Hubble Native Yield * Hubble treasury # Liquidations Common questions about liquidations on Hubble. ### **What are liquidations?** Liquidations are a way Hubble can settle outstanding debt by seizing collateral. Collateral is funding provided by a borrower to make sure a debt can be settled through the liquidation process. If a debt is not repaid according to the terms agreed upon, then a borrower forfeits their collateral. On Hubble, users are liquidated when the value of their collateral drops below an acceptable level compared to their borrowing. Liquidations are a kind of insurance that guarantees a borrowing platform can remain solvent (doesn't lose funds and go out of business). ### How do liquidations work? Liquidations on Hubble occur via our [Hybrid Liquidation Model](/faq/liquidations/hybrid-liquidation-model). Assets from the original vault are subject to [USDH Vault Liquidations](/faq/usdh-vault/stability-vault-liquidations), funded by the USDH provided by depositors. Any new assets being onboarded to the protocol will be liquidated by bots that facilitate market-based liquidations. ### Where can I see the active loans on the protocol? Every loan on Hubble can be viewed on the [Leaderboard page](https://app.hubbleprotocol.io/leaderboard). ### When can I get liquidated? Liquidations happen when the value of your collateral decreases and your LTV increases. If your LTV is 50% and the value of your collateral decreases 10%, then your LTV rises to 60%. If your LTV reaches the maximum LTV of the vault in which you have a loan, then you can be liquidated. When your account is liquidated, you lose the majority of your collateral, and this % will depend on the LTV of the vault. For example, if the vault has an 80% LTV, you will lose 90% of your collateral, and receive 10% back. However, you keep all the USDH you borrowed. If you swapped your USDH for other assets that also dropped in value, then you incur a greater loss of value than if you held USDH or put it to work in more low-risk DeFi plays like providing liquidity for USDH on Saber or Mercurial. ### How can I avoid getting liquidated? Maintain a healthy LTV to prevent the possibility of being liquidated. You can do this by depositing additional collateral to your loan or repaying some of your borrowed USDH. Every user has a different approach to taking risks, and you should ask yourself some questions to assess how much risk you would like to take when borrowing: * How much time do you have to consistently watch market prices and improve your LTV? * Can you easily access your computer, the internet, your wallet, Hubble, and Solana if you need to improve your position in a short amount of time? * What resources do you have to deposit additional collateral, if necessary? Can you easily access those resources? * Can you easily repay some of your USDH loan, if necessary? Have you deposited USDH somewhere else, and is it easy to get it back? Have you swapped USDH into other tokens? If you don't have time to continuously maintain your account, then it's a good idea to start off with a lower LTV in case of extreme drops in collateral value. Crypto is an extremely volatile market. For example, in May 2021, the entire crypto market cap fell by nearly $1 trillion in one day. ### How will I know I've been liquidated? Your position on the Dashboard page will no longer reflect your deposit or your USDH debt. **For 80% LTV:** When you get liquidated, you forfeit 90% of your deposit and your debt is wiped clean. You will be returned 10% of your deposited collateral after liquidation. **For 90.9% LTV:** When you get liquidated, you forfeit your entire deposit and your debt is wiped clean. ### **How are liquidation rewards awarded?** USDH Vault providers receive liquidation rewards in proportion to their share of the USDH Vault. If you deposited 1% of the USDH in the USDH Vault, you will receive 1% of the liquidation rewards. These rewards come from the collateral in liquidated accounts. If a liquidated account holds SOL and BTC, then you will receive your fair share of those tokens when the liquidation occurs. # Hybrid Liquidation Model ### **How do liquidations work?** Hubble uses a hybrid liquidation model that relies on funds in the USDH vault, as well as on bots that facilitate market based liquidations. ### USDH Vault Liquidations Hubble's original liquidation model utilized only the USDH Vault to fund liquidations. When a position reaches a Vault's maximum LTV, the user's debt is settled via the USDH that is staked in the USDH vault. The USDH Vault stakers then receive the liquidated borrower's collateral assets at a discount, meaning that the Dollar value of the collateral received by a USDH staker will be worth more than the USDH that was burnt from their USDH Vault position. This discount would typically be around 10%. Liquidations on the original Hubble Vault is still funded via the USDH Vault, though newly onboarded assets and vaults will be subject to market-based liquidations. ### **Market-based Liquidations** Going forward, any assets that are being onboarded to Hubble will be liquidated by bots on the open market. By offering liquidators a discount on collateral assets, they will be incentivized to settle the debt on loans. In the market-based liquidation model, liquidators will receive the majority of user collateral, with the exact % depending on the vault LTV. In this model, USDH Vault stakers still receive x% of user collateral. However, this % earning is now risk free, as USDH stakers do not lose any USDH in the process. # Liquidation Example First, a user takes a loan: * SOL/USD is $100.0 * User Position (debt=100, collateral=2 SOL) * User LTV is: (100 / 200)\*100 = 50% LTV * User is safe. Liquidation point is 80% LTV. Then, SOL price drops: * SOL/USD is $80.0 * User Position (debt=100, collateral=2 SOL) * User LTV is: (100 / 160)\*100 = 62.5% LTV * User is safe. Liquidation point is 80% LTV. Then, SOL price drops again: * SOL/USD is $62.0 * UserPosition (debt=100, collateral=2 SOL) * User LTV is: (100 / 124)\*100 = >80% LTV * User is liquidated (loses 90% of collateral), because liquidation point is below the user's LTV. In this case, **the user loses 90% of their collateral**, receives 10% of their assets back, and their debt is fully paid by the USDH Vault. * After liquidation: User Position (debt=0, collateral=0 SOL) * If the user has kept their 100 USDH, they incur a net loss of \~10% (Collateral $124 - Debt $100 - $12.4 assets returned = $11.6 loss). # Redistribution How Hubble socializes debt to manage edge case liquidations. Hubble Protocol is built for USDH resiliency and sustainability. There are two edge cases where debt and collateral can be distributed throughout the protocol in order to liquidate accounts that have surpassed their liquidation threshold. ## What Happens When the Stability Vault is Empty If there is nothing in the Stability Pool (Stability Vault), then Hubble needs to find another way to back the undercollateralized USDH. The smart contract does this by redistributing debt among other debt holders. For instance, if Hubble needs to distribute a debt of 100 USDH which is backed only by 105 worth of SOL, then 100 USDH is distributed among all debt holders and 105 worth of collateral is distributed to all. The amount users receive is based on their debt percentage of the entire pool. Here is an example situation: ``` user#1 user#2 user#3 user#4 user#5 SOL (in USD) +100 +300 +60 +70 +70 ETH (in USD) +100 +100 +60 +60 +40 Total Coll +200 +400 +120 +130 +110 Debt (USDH) -100 -100 -100 -100 -100 Net Value +100 +300 +20 +30 +10 LTV 50% 25% 83% 76.9% 90.9% ``` Let's say Hubble liquidates user 5. The remaining users have these positions: ``` user#1 user#2 user#3 user#4 SOL (in USD) +100 +300 +60 +70 ETH (in USD) +100 +100 +60 +60 Total Coll +200 +400 +120 +130 Debt (USDH) -100 -100 -100 -100 Net Value +100 +300 +20 +30 Pool Pct 25% 25% 25% 25% LTV 50% 25% 83% 76.9% ``` Then every user receives 25% of the debt and 25% of the collateral: ``` user#1 user#2 user#3 user#4 SOL (in USD) +117.5 +317.5 +77.5 +87.5 ETH (in USD) +115 +115 +75 +75 Total Coll +232.5 +432.5 +152.5 +162.5 Debt (USDH) -125 -125 -125 -125 Net Value +107.5 +307.5 +27.5 +37.5 LTV 53% 28.9%% 81.9% 76.9% ``` You can see that: * Net value increased * LTV decreased for some, and increased for others ## What Happens When There's Bad Debt In the event that collateral assets lose value faster than they can be liquidated, then a redistribution is triggered that bypasses the Stability Vault, even if it contains USDH. This can occur if there's a flash crash, if the liquidity for an asset becomes thin on Solana, or if an asset loses its peg/backing and is no longer valuable. #### **For example:** * User has 100 USDH debt and $130 Collateral * LTV = 76.92% * Each USDH is backed by $1.30 of assets Then, collateral value suddenly drops to $95 * User still has 100 USDH debt, but collateral is worth $95 * LTV = 105.26% This loan is now **undercollateralized**, or has incurred "bad debt" for the protocol. Each USDH in the loan is backed by less than $1 of crypto. ### **How Distribution Works in Case of Bad Debt** When a loan incurs bad debt, the Stability Vault does not burn 100 USDH as it would with a standard liquidation, and the collateral is not distributed to Stability Vault depositors. Instead, 100% of USDH debt and 100% of collateral are redistributed across all loans on the platform, following the same logic as though the Stability Vault were empty. Following the above example, this would mean: * 100 USDH debt is distributed across all loans * $95 collateral is distributed across all loans The net effects of this are: * **Higher aggregate LTV ratio** across the platform * Users may receive **assets they might not have originally held** in their loan ### Bad Debt Distribution Example ``` user#1 user#2 user#3 user#4 user#5 SOL (in USD) +0 +300 +80 +30 +180 ETH (in USD) +200 +100 +100 +120 +0 Total Coll +200 +400 +180 +150 +180 Debt (USDH) -100 -100 -100 -100 -100 Net Value +100 +300 +80 +50 +80 LTV 50% 25% 55.6% 66.7% 55.6% ``` Let's say the SOL price drops by 50% ``` user#1 user#2 user#3 user#4 user#5 SOL (in USD) +0 +150 +40 +15 +90 ETH (in USD) +200 +100 +100 +120 +0 Total Coll +200 +250 +140 +135 +90 Debt (USDH) -100 -100 -100 -100 -100 Net Value +100 +150 +40 +35 -10 LTV 50% 40% 71.4% 74.1% 111.1% ``` In this scenario, user #5 has incurred bad debt. Meaning his collateral of $90 SOL and his debt of 100 USDH will be evenly distributed across the rest of the users. This means each user receives: * 100 / 4 = 25 USDH debt * 90 / 4 = $22.5 SOL collateral The effect would be: ``` user#1 user#2 user#3 user#4 SOL (in USD) +22.5 +172.5 +62.5 +37.5 ETH (in USD) +200 +100 +100 +120 Total Coll +222.5 +272.5 +162.5 +157.5 Debt (USDH) -125 -125 -125 -125 Net Value +97.5 +147.5 +37.5 +32.5 LTV 56.1% 45.9% 76.9% 79.4% ``` Following the redistribution, each loan on the platform has: * Lower net value * Higher LTV ratio In the case of User #1, prior to redistribution, they only had ETH exposure. However, the redistributed loan contained SOL, which means that each user receives SOL upon redistribution. This results in User #1 having SOL exposure, following redistribution, without ever having manually added SOL as collateral in their loan. Note that, if a loan initially has an at-risk LTV, redistribution can nudge the LTV over the maximum LTV, resulting in liquidation. For example, had User #4 had $2 more debt, their loan would have reached the 80% max LTV, and been at risk of liquidation. # Security ### **What are Hubble's Security Practices?** Hubble is obsessed with security. There are way more lines of code for testing than actual smart contract functionality. Code reviews are extremely strict and security audits are performed regularly, with five having been completed thus far. Hubble works with the "Move slow and don't break things" attitude, as the smart contracts involve users' funds. * Integration tests * Stress tests * Security tests * The Soteria audit tool * Property based tests, fuzzing * Asset-based Deposit caps * Withdrawal flow caps ### **What is the plan for managing regulatory risk?** Since USDH is not fiat-backed, regulatory risks should not affect the viability of the token. As regulations begin to be drawn for DeFi, Hubble plans to align itself with a regulatory framework that should increase the mainstream adoption of DeFi as well as Hubble's services. # Security Practices ### Unit tests / Integration tests These are tests that check individual "functions" in the codebase, or entire "workflows". Essentially, scenarios are generated in which users perform certain actions, and we check that the code performs as intended. Hubble runs several tests for each contract interaction, each instruction and each function. In total, we run 850+ tests on every single code change, and the protocol is continuously adding to it. ### Stress tests Hubble runs tests involving hundreds of users and actions to see how the smart contracts would evolve at scale. For instance, what if there are thousands or millions of liquidations? These are the kinds of scenarios we run tests on. However outlandish it may seen, the protocol stands by its approach of battle testing its contracts to ensure resilience. ### Security tests Solana has a particular vulnerability that was exploited in the past, which failed the "account validation checks." To summarize, if the program doesn't check whether the inputs into the instruction are correct, a hacker could disguise a malicious input to seem correct at face value, enabling them to steal user funds. Hubble is consistently checking for "account validation", and has an automated verification against this vulnerability in its testing framework. Almost every single input is checked against malicious inputs in three ways: * "Actual tests" * "Anchor constraint checks" * "Soteria tests" ### Soteria audit tool Soteria is a tool that provides automated testing for regular exploits. We run the Soteria tests on every "commit" in our code base. Soteria checks for account validation failures, as well as math failures. #### Example output: ``` js detected 0 untrustful accounts in total. detected 0 unsafe math operations in total. ``` ### Property based tests / Generative tests and fuzzing Typically, people test the scenarios they can mentally conceive: good cases, bad cases, edge cases etc. However, there are always "unknown unknowns." To ensure that Hubble is not blindsided by such scenarios, we get pre-built libraries to generate random and/or full-permutation test cases for us. The protocol runs this for math operations, staking calculations, and wherever else it makes sense. ### Deposit Caps To ensure the protocol stays solvent, Hubble enforces deposit caps on different kinds of collaterals, as well as global and per/user debt ceilings. ### Withdrawal flow caps (code audited, unreleased) Another layer Hubble has added to its security framework is limiting per-token capital outflows. To do so, the protocol will limit how much value (collateral, USDH) can leave the system by hourly intervals. As such, if an exploit is possible, there is a measure of damage control, and the hacker would have to wait until the next interval to exploit it again. For example, if Hubble sets a 4-hour interval, with a USDH outflow cap of 5 million, a hacker would be able to withdraw a maximum of 5 million USDH from the system within that interval. Hubble will implement alerts that monitor when such caps are reached, prompting the protocol to investigate. # Security Audits ### Security Audits * [The Arcadia Group Security Audit Report](https://github.com/hubbleprotocol/audits/blob/master/Arcadia%20report%20hubble.pdf) (December 2021) * [Smart State Smart Contract Audit ](https://github.com/hubbleprotocol/audits/blob/master/Smart%20state%20hubble.pdf)(December 2021) * [Kudelski Security](https://github.com/hubbleprotocol/audits/blob/master/kudelski-1.pdf) (March 2022) * [Kudelski Security](https://github.com/hubbleprotocol/audits/blob/master/Audit%20btblocks%20kudelski%20-%202cb2eb21-4b1d-4e3f-a593-c6bd23405b0f.pdf) (April 2022) * [Sec3](https://www.sec3.dev/), formerly called Soteria (Continuous) ### # Bug Bounty Program ### Bug Bounty Program Hubble offers bounties for reporting security issues. [More details](https://github.com/hubbleprotocol/audits/blob/master/docs/SECURITY.md). Report issues to and make sure to include your GitHub username. | **Smart Contracts** | | | ------------------- | ------------------ | | Critical | Up to USD $500,000 | | High | USD $100,000 | | Medium | USD $10,000 | | Low | USD $2,500 | | **Websites and Applications** | | | ----------------------------- | ----------------- | | Critical | Up to USD $50,000 | | High | USD $10,000 | | Medium | USD $5,000 | | Low | USD $500 | # Risks Possible risks users may face when using Hubble There are inherent risks associated with participating in DeFi. Some of these risks include but are not limited to: **Smart Contract Risk:** Hubble operates on lines of code known as a smart contract. If a hacker can find a way to exploit a smart contract, they can steal funds. Hubble mitigates the risk of an exploit by regularly engaging with third-party security firms that [audit](/faq/security/security-audits#security-audits) our smart contracts. Hubble has also launched a [bug bounty](/faq/security/security-audits#bug-bounty-program) program to reward whitehat hackers for reporting any issues. **De-pegging Events:** Stablecoin prices fluctuate naturally with market movements, usually within a very narrow range above or below $1.000. Major events can cause the price of a stablecoin to move beyond this narrow range making USDH worth less than $1. Hubble mitigates the risk of de-pegging events in several ways. USDH is backed by at least $1.20 in crypto assets at all times, and USDH is always worth $1 on Hubble. In the event USDH de-pegs, users can repay their loans and retrieve their collateral. If USDH falls below $1 on the market, users can cheaply repay their loans to retrieve their collateral. Conversely, if USDH rises above $1, users can mint more USDH with their collateral in order to capture a profit. Both of these actions help bring USDH back to $1. Additionally, Hubble has developed mechanisms such as the [Peg Stability Module (PSM)](broken://pages/4j13XGBFUjres07o0yiz#peg-stability-module) and the [Stability Fee](broken://pages/QGN7YAPPYVyeu6JrsXDc#stability-fee) to further defend USDH's peg. # Governance How and why Hubble will become a DAO. Governance will allow the community to propose, debate, and vote on protocol changes, implement new features, or delegate implementation to the core team. We are gradually moving towards a governance model based on our [Forum](https://forum.hubbleprotocol.io/). #### Why decentralized governance? * **Voice** - We want to empower the users and early adopters who actually have a stake in the system, those that are most impacted by the system. * **Trust** - Decentralized decision-making reduces sub-optimal executive decisions motivated by one individual's self-interest. * **We’re only humans** - We recognize our shortcomings and welcome guidance from the community. We are keen to build a decentralized organization for the community. #### Governance for the benefit of the community Decentralized governance, in order to be meaningful, needs to allow the most active participants in the community to have an effective voice. To incentivize participation we are combining features of existing models that we find work best, especially: * General directive proposals where development work from the core team is dictated by the community, once a quarter. * Group proposals where the community can unite to make a proposal even if individually voters wouldn’t have enough voting tokens. Hubble will begin as centrally controlled and move slowly towards full decentralization, a situation where decision-making and protocol changes are handed over to the community. There will be two types of proposals the community will vote on: * Executable code proposals will be the majority of the proposals, implemented by the community and, upon successful voting, will be swapped out for the old programs. * General directive proposals will happen once a quarter where part of our developers’ time will be dedicated to community-driven decisions, subject to the previous quarter’s directive being completed. Users with at least 0.5% voting power will be able to vote or delegate their voting rights and propose changes. After a 7 days period of voting and debate, using our Governance forum and Governance platform, a proposal can succeed and be automatically queued up for going live. # Mobile App ### Can I use Hubble on my phone? Yes. Our mobile version is live and can be accessed from any smartphone. All you need is an internet connection, and a Solana wallet mobile app, like the [Phantom Wallet mobile app](https://phantom.app/download). ### How do I use Hubble on Mobile? You can get started in a few short steps: * Download a [Phantom Wallet mobile app](https://phantom.app/download) or a [Solflare mobile app](https://solflare.com/#devices-available). Both are available for iOS and Android. * In this case, we will be using the Phantom Wallet app on iOS. * Connect your wallet by entering your 12-24 word secret recovery phrase that you keep saved somewhere secure. ![Download Phantom Wallet and enter secret recovery phrase to connect wallet.](https://1947729589-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FyIf1jDNBmx2V2K9HSZqb%2Fuploads%2FwYDPSZ7BXlJXRRqBk7Ip%2Fstep%201%2B2.png?alt=media\&token=15e77ca6-d65c-4a72-9352-2aa4de885f78) * Go to the in-app browser in the bottom right of the menu, then go to the Hubble web app: [app.hubbleprotocol.io](https://app.hubbleprotocol.io) * On the Hubble App, accept the disclaimer. ![Go to Hubble mobile app in Phantom wallet, and accept disclaimer.](https://1947729589-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FyIf1jDNBmx2V2K9HSZqb%2Fuploads%2FjU1RWgxQUaSWWzg2iCZD%2Fsteps%203%2B4.png?alt=media\&token=d6d85671-93d3-41a4-ad70-ffa6aabb8a64) * Click "Select Wallet" at the top of the screen. * Accept the wallet pop-up. ![Select your wallet and connect it to the mobile app.](https://1947729589-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FyIf1jDNBmx2V2K9HSZqb%2Fuploads%2Fqv8d7Konhcqu8xqngru2%2Fsteps%205%2B6.png?alt=media\&token=df0f0493-6ff4-4dbf-804b-85aacfe619a1) * Congrats! You can now use Hubble on your phone! ### Can I use the mobile app on Android as well? Yes, on Android, you can connect through [Solflare ](https://solflare.com/#devices-available)or [Phantom](https://phantom.app/download). ### Why can't I connect my wallet to a normal browser? Generally, crypto-wallet providers require that you use their in-app browsers if you want to connect your wallet to a mobile web app. # Hubble SDK If you would like to build on top of Hubble, please contact core contributors to the protocol on the Hubble Discord. Open a ticket in the [Help Desk](https://discord.com/channels/901231379587670066/930507171081383977), and someone from the community will help you get started with the SDK. You can read more about the Hubble SDK [here.](https://github.com/hubbleprotocol/hubble-common/blob/master/packages/hubble-sdk/README.md) # More About Hubble ### Where can I find out more about Hubble? One good place to start is Hubble's [blog](https://blog.hubbleprotocol.io/). Join the Hubble community on [Discord](https://discord.gg/b4XqQbbSBk) and ask any questions you may have or just join the conversation. There's almost always someone there from the community who is keen to tell you all you need to know and more! # Litepaper Follow the DocSend link and enter your email address to access: [Hubble Protocol Litepaper](https://docsend.com/view/4amrfk4zkavcqxcs) # Technical Resources Resources on the technical side of Hubble Protocol. ### Contract Addresses | Name | Address | | ------------------------------- | ---------------------------------------------- | | **programid** | *HubbLeXBb7qyLHt3x7gvYaRrxQmmgExb7fCJgDqFuB6T* | | **usdh id** | *USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX* | | **liquidationRewardsVaultSol** | *gbbqSXucKBYcfvaPR2DevzExFpstvE6Ypu1Nfs3HGB1* | | **liquidationRewardsVaultEth** | *CyfPwr1uV3pkhQtCdCpLvzzVvAngXYqq4KSAvkVxqhga* | | **liquidationRewardsVaultMsol** | *5xvgjTUyR5yBEW6oKYTeTd6BaQobGt7ECLPUearAxjBA* | ### Proof of Reserves | Token | Vault address | | ------------- | ---------------------------------------------------------------------------------------------------------------------- | | USDC | [7AvwRQhSKtUUbEcP4eqYZbbKWgYyygehAqEp68nnc747](https://solana.fm/address/7AvwRQhSKtUUbEcP4eqYZbbKWgYyygehAqEp68nnc747) | | KUSDHUSDCORCA | [Ei8sLkbbodyfEZJpdx79MrHe5CHnh6Y1j7dQonRZjhuQ](https://solana.fm/address/Ei8sLkbbodyfEZJpdx79MrHe5CHnh6Y1j7dQonRZjhuQ) | | STSOL | [6CAdvg19AS7wy1RjyDeL5Ja62SN1wJizDyoB95yBxQvB](https://solana.fm/address/6CAdvg19AS7wy1RjyDeL5Ja62SN1wJizDyoB95yBxQvB) | | MSOL | [9FWk5tni1jv6muvuUeh2JJdcfGcuzShkh2Ashzr6QWch](https://solana.fm/address/9FWk5tni1jv6muvuUeh2JJdcfGcuzShkh2Ashzr6QWch) | | SOL | [68yQyYj4YymoiQ644LVyRdvWLpw9xsjp67kmZhLMGnQp](https://solana.fm/address/68yQyYj4YymoiQ644LVyRdvWLpw9xsjp67kmZhLMGnQp) | | DAOSOL | [YZammsBhst1SULqhMTfikgsHsJbctEf1ndQ678faS3Q](https://solana.fm/address/YZammsBhst1SULqhMTfikgsHsJbctEf1ndQ678faS3Q) | | ETH | [HWTdcMDUF2UJqmD39dix2ATbKTJYQVhpPyoHgJTthpEz](https://solana.fm/address/HWTdcMDUF2UJqmD39dix2ATbKTJYQVhpPyoHgJTthpEz) | | CSOL | [362BJHyete8z6eYCLwEt1AVsGtNuGjGLseLSZeViXPXH](https://solana.fm/address/362BJHyete8z6eYCLwEt1AVsGtNuGjGLseLSZeViXPXH) | | CMSOL | [AmpZ1XJmqHQSR82DvuJuh1w27SY1UeRPemwP2hjEzety](https://solana.fm/address/AmpZ1XJmqHQSR82DvuJuh1w27SY1UeRPemwP2hjEzety) | | CSTSOL | [CJbEq3NdFGnQgCfth446sQ4AoC7f3QT2Uws2bhJuHt8e](https://solana.fm/address/CJbEq3NdFGnQgCfth446sQ4AoC7f3QT2Uws2bhJuHt8e) | | CETH | [55sRD1JfFMyjMXe1vAR4ZDRJsJpNzZmRMDS6MavsT179](https://solana.fm/address/55sRD1JfFMyjMXe1vAR4ZDRJsJpNzZmRMDS6MavsT179) | # Community Resources Where to find the Hubble Community. You can find more information about Hubble and interact with members of the Hubble community via these links: * [Discord ](https://discord.gg/b4XqQbbSBk) * [Forum](http://forum.hubbleprotocol.io) * [Website](http://hubbleprotocol.io/?utm_source=newsletter\&utm_medium=article\&utm_campaign=blog_internal) * [Twitter](http://twitter.com/hubbleprotocol) * [Telegram](http://t.me/hubbleprotocol) * [Email](mailto:comms@hubble.markets) * [Reddit](http://reddit.com/r/usdh)