At Helio Protocol, our utmost commitment is to deliver an exceptional user experience and provide users with increased flexibility in managing their assets in a secure and safe environment.
In order to achieve this goal, we are excited to announce not only our partnership and merger with Synclub.io, but also our plans to establish a novel foundation as a result of this merger. This foundation, yet to be named, is anticipated to be fully established within the year.
This will bring about significant changes in our operational structure. For starters, the foundation will administer the complete revenue flow of both Synclub and Helio, bringing a level of oversight and alignment previously unseen in our operations.
This alignment will extend across all critical verticals of our operations, integrating business development, marketing, operations, security, and risk management under a unified strategy.
Additionally, in the event our newly established foundation chooses to issue a governance token, rest assured that there will be only one unique token that would be utilized for governance and voting across both sub-entities. further reinforcing the alignment of our shared interests.
Ultimately, this merger combines Synclub’s expertise in staking-as-a-service infrastructure and design with Helio Protocol’s LST-backed & decentralized stablecoin, HAY. The rest of this article will outline our latest strategic direction for Helio Protocol and shed light on the reasons driving this partnership and the establishment of the forthcoming foundation.
About Synclub.io
Synclub.io is a trusted Proof-of-Stake infrastructure provider and validator for various blockchains, including BNB Chain, Cosmos Hub, and Polkadot, with more in the pipeline.
They currently manage over $240 million worth of staked assets and are the 4th largest validator on BNB Chain, representing 4.12% of total BNB staked.
Motivation
Diversifying our Total Value Locked (TVL) among different liquid staking providers has always been a crucial part of our roadmap to mitigate risks associated with relying on a single provider.
Following rigorous security checks and thorough due diligence, we were impressed by Synclub’s robust security measures and their operation of their own validator node on BNBchain, which offers an elevated level of security. This ultimately played a pivotal role in our decision to form this partnership.
Our roadmap ahead
Multi-LST collateralisation
At Helio Protocol, we are committed to continuously improving the security, accessibility, and utility of our platform. To further enhance the security of Helio Protocol and diversify our Total Value Locked (TVL), we will explore the addition of more liquid staking tokens, including ETH LSTs.
This expansion will not only improve our liquid staking offerings but also increase accessibility for our users and enhance the overall security of $HAY.
A Multi-chain HAY
We also recognise the importance of making $HAY accessible to a wider range of stablecoin users. To achieve this, we will actively explore opportunities to bridge $HAY to different blockchains through multichain integrations.
By expanding our presence across various blockchains, we aim to provide stablecoin users with seamless access to $HAY, enabling them to benefit from its unique features and advantages across multiple platforms and ecosystems.
Maximizing the Value of HAY
In addition to expanding our offerings and accessibility, we are focused on adding unique utility cases for both $HAY and SnBNB. Our team is diligently working to identify and implement innovative use cases that deliver additional value and benefits to our community.
By introducing new utility features, we aim to create a dynamic ecosystem that fosters growth, adoption, and utility for our native tokens.
Conclusion
As we look to the future with the anticipated establishment of our new foundation and the continued growth and success of Helio Protocol, we remain dedicated to pushing boundaries and delivering exceptional value to our community. We appreciate the ongoing support of our users and look forward to the continued growth and success of Helio Protocol as we execute our roadmap and introduce new advancements to the ecosystem.
If you are a builder interested in exploring opportunities related to Liquid staking tokens (LSTs) and stablecoins with us, please reach out to partnerships@helio.money.
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