Former Babel Finance Founder Announces Launch of Distributed Stablecoin $HOPE and HOPE Ecosystem

Flex Yang, former founder of Babel Finance, announced the launch of $HOPE, a distributed stablecoin backed by crypto-native reserves, and an all-in-one DeFi ecosystem built around it. The reserves pool of $HOPE will initially consist of BTC and ETH.

Flex Yang said the team's long-term goal is to make $HOPE a payment vehicle, facilitating frictionless and transparent transactions in a polarized world. But in the short term, they want to make $HOPE a high-liquidity, easy-to-borrow, and universal collateral bridging DeFi, TradFi, and CeFi.

The HOPE ecosystem consists of four protocols - HopeSwap, HopeLend, HopeConnect and HopeEcho - and an incentive and governance token, $LT (Light Token). $LT holders can vote-lock $LT for veLT. veLT can be used to boost $LT rewards and vote for governance proposals to decide on critical topics such as $HOPE monetary policy, treasury policy, and distribution of the protocol revenue.

• Built on Ethereum, the AMM-based HopeSwap protocol is the gateway to the HOPE Ecosystem. Users can swap between $HOPE, $LT, and other assets or become liquidity providers to get $LT rewards and fee shares.
• HopeLend is a non-custodial lending protocol with multiple liquidity pools. Lenders can deposit liquidity to earn interest, while borrowers can draw overcollateralized loans after supplying collaterals.
• HopeConnect is a DeFi application that allows users to trade derivatives on top CEXs without depositing assets on centralized platforms. It aims to allow users to enjoy CEX-level liquidity and trading experience on a decentralized and anonymous protocol with no counterparty risk.
• HopeEcho will democratize TradFi access by creating synthetic assets that track the prices of real-world assets (RWA), including but not limited to equity indices, fixed-income instruments, commodities, FX, etc.

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