Former Babel Finance founder Flex Yang launched $HOPE, the distributed stablecoin backed by crypto-native reserves and an all-in-one DeFi ecosystem built around it.

Designed with the best aspects of CeFi, DeFi, and TradFi, $HOPE and the HOPE Ecosystem aim to provide frictionless and transparent next-gen infrastructures and services, to onboard the new mass market of investors, including non-crypto natives.

$HOPE

$HOPE is the ecosystem’s native stablecoin, designed to be a distributed stablecoin backed by crypto-native reserves.

In the long term, $HOPE aims to become a currency vehicle for everyone, including non-crypto natives, to enjoy financial inclusion in a fully transparent and secure environment. In the short term, $HOPE will be a high-liquidity, easy-to-borrow and universal collateral bridging DeFi, TradFi, and CeFi applications.

$HOPE will be backed by distributed reserves of BTC and ETH at the initial stage, and there will be a period of time used to determine the pegging ratio of $HOPE to the prices of its reserves of BTC and ETH.

By tracking the prices of BTC and ETH over a fixed period, the pegging ratio will be finalized. Afterward, the reserve price of $HOPE will float with the prices of BTC and ETH, starting from around US$0.5 and gradually reaching US$1 as the market recovers.

Upon the launch of HopeSwap, users can obtain $HOPE via HopeSwap to engage with DeFi applications within the Hope Ecosystem.

$HOPE holders can stake $HOPE and obtain $stHOPE. $stHOPE holders will receive $LT as liquidity provision rewards.

$LT (Light Token)

$LT is the incentive and governance token that will be released to incentivize liquidity provision and governance participation within the HOPE Ecosystem.

$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.

HOPE Ecosystem

Consisting of 4 main protocols, the HOPE Ecosystem provides a comprehensive set of use cases for $HOPE and $stHOPE, including swap, lending, and collaterals, while incentivizing users to participate in the ecosystem and community governance through $LT.

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.

The first of its kind in the industry, HopeConnect is an innovative DeFi application that allows users to trade derivatives on top CEXs without depositing assets on centralized platforms. Users can 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. Users previously excluded from TradFi services will now gain crypto-denominated traditional asset exposure without owning those assets.

The future roadmap of the HOPE Ecosystem also includes the mint & burn protocol of $HOPE and the integration of third-party dApps within the ecosystem.