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Satoshi_storyteller

Jul 12, 2022

14 min read

Helio Protocol x Satoshi Club AMA Recap from the 9th of June

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Helio Protocol and our guest was . The AMA took place on the 9th of June.

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Hello Dear Satoshi Clubbers Welcome to our AMA session with Helio Money

Greetings, dear Satoshi Club community! We are pleased to announce AMA with Helio Protocol

Our guest today is @Helio_Hayman

Hey everyone! Very happy to be here talking a little bit more about Helio

We are happy to have you here, welcome to Satoshi Club

How are you doing today?

Nice to e-meet you welcome to Satoshi club

Thank you!

I’m great! Hope you are all having a good day as well

Yes, and we are excited and looking forward to an awesome time with you here

We are also really excited about upcoming AMA with you

Let’s get started

Let’s start with the introduction to warm up.

Sure!

Tell us please about your position in Helio Protocol

I’m , the co-founder of Helio Protocol (https://helio.money/)

My background is in traditional finance but I have made the move to DeFi a few years ago now

very good step

Give us a brief introduction to the project. What is the essence of Helio Protocol

Your stickers look Amazing

The Helio.Money protocol, powered by the BNB chain, introduces an innovative architecture to stablecoin minting. Helio’s stablecoin is called HAY, and it is over-collateralized with BNB tokens.

To obtain HAY, the user will need to provide BNB collateral and borrow HAY against it. After that, HAY can be staked for long-term yield and transferred to other protocols to generate additional yield.

HAY is over-collateralized, making its peg highly secure and comparable to the MakerDAO DAI token.

thank you!

How many people do you currently have on your core team?

Well … We can see that you want to revolutionize the industry

We are a team of around 8–10 people

Is your team anonymous?

Yes it is

Tell us please about the benefits of Helio.Money protocol. How is it different from others?

We differ from other stablecoins such as UST since we are over-collateralized by BNB assets and UST is algorithmic

And we are different from other stablecoins such as USDT as we have low gas fees since we are using BNB and not Ethereum — this makes everything more accessible

Thank you for the introduction

Sounds good

Thanks!

Thanks for your great intro

We have some questions from our community for part one. Are you ready

Of course! Let’s do it!

Q1 from Telegram User @Danylko_UA

Hello Helio Protocol Team!

Apart from the stablecoin ($HAY), I understand that the platform has a governance token ($HELIO token). In this course, clearly highlight the various use cases of the $HELIO token within and outside your platform. What is the connection between the $HAY and $HELIO tokens? Give details on how to go about staking these tokens: what is the minimum required number of Stackable tokens? What APY is tied to staking/farming $HAY and $HELIO tokens? How will you ensure that the volatile coin ($HELIO) will maintain value regardless of the unfavourable crypto market situations attimes? Are there token burn/buy back functions?

This is a great question! I’ll answer it in a few parts

After providing BNB as collateral you will be able to borrow $HAY which is Helio Protocol’s stablecoin. When you mint $HAY, you also earn $HELIO tokens that offset $HAY’s borrowing fees.

When you stake $HAY, you can expect around 15% of sustainable APY. At the moment $HELIO is not stackable, we plan to integrate that in the future

You can learn and see how the staking will work on our testnet that is live now: https://testnet.helio.money/app/farming

HAY yield comes from Helio’s revenue pool, which is derived from HAY’s borrowing interest and collateral being staked by Helio’s protocol.This effectively enables HAY to enable yield in a sustainable way since the collateral is mechanically larger than the staked HAY coming from borrowing due to the over-collateralization nature of the Helio protocol.

We also plan to introduce other utilities for the $HELIO token which includes a democratic governance by token holders and much more — more announcements to come regarding this in the future!

In order to ensure $HELIO will maintain value regardless of the markets conditions, we have limited the amount of tokens and we will do buy back by governance decision which is one of $HELIO’s utility, so it can be staked for reward or used for governance.

What proportion of $HELIO does a user get for minting $HAY??

share with us your road map please

You can find that information in our litepaper: https://helio.money/static/litepaper.pdf

That is also on our litepaper

You read my thoughts

Thank you for sharing this

Thanks for your great answers

Are you ready for the next question?

Or you want to add something?

Yes!

Lets move on

Q2 from Telegram User @UniqueVicky

I read HAY base yield will have two main sources,”borrowing interest” and “yield generated from proof-of-stake”. Can you give detailed explanation of these two main sources of HAY base yield? How does the proof-of-stake work in Helio for generating yield and also the borrowing interest? Also you are planning of using Native tokens of various DeFi protocols to influence rewards emission and also enable other DeFi protocols to build on top of HAY. Can you shed more light on this. How will the native tokens of other DeFi protocols help influence reward emission of Helio? Why do you decide for other DeFi protocols to be build on top HAY?

Helio protocol has yield mainly from staking and the borrowing interest, this yield by governance decision will be send to the DEX as farming rewards and to buy back Helio token. You can learn more about Helio by reading our litepaper: https://helio.money/static/litepaper.pdf

At the moment, we are not planning on using any specific native token from other DeFi protocols, if this happens we will announce it on our social media channels (linktr.ee/heliomoney)

Excellent answers

We will keep an eye on your channels then

We have a big announcement coming out shortly

And we announced our Do2Earn campaign today

Where you can win 0.01 BNB just by folllowing a few steps and you will be collecting points

Top 100 people with the most points win

give us a link please

litepaper-1Download

Sure! You can join here: https://app.fyre.hypersign.id/form/helio-testnet-campaign

Amazing

Thanks for sharing

Our testnet went live yesterday as well

Are you ready for the next question?

Very exciting times

Sure, lets move on!

Q3 from Telegram User @ghostofcharmeleon

Hello, Helio Protocol team.

Your roadmap indicates that one of the goals of the project is to expand to other chains, as well as the use of other tokens that use PoS technology to provide. In this regard, I have a couple of questions, what other tokens in BSC do you plan to use as collateral? What is the next blockchain you have first on the queue for integration?

you are experiencing incredible milestones in the life of the project

Even though our roadmap states that, our priority is to be top provider on BNB Chain before moving to other chains

Whenever we announce new tokens and blockchain integrations, we will post it on our Twitter which you can find below

Satoshi Clubbers Go follow the twitter Handle

Clear answer

Thanks

Can we proceed with the next question

No problem!

Yes!

Q4 From Telegram User @Rozielyna

I understand that Helio Protocol’s primary goal is to enable high yield in a sustainable manner, allowing most users to benefit from the higher money velocity of crypto markets. Can you tell us more about the Helio Protocol and its working Mechanism ? What features and competitive advantages make Helio Protocol unique over other Projects? As your project advances, what are some of the Major Plans you have for the future and What is your next goal for Helio Protocols? Marketing is a central tool for every project to attracting more users and investors. What are your marketing strategies to Attract New users and investors to your project?

Lets break down the answers again here

Great question by the way!

Let me explain our working/price mechanism:

When HAY’s price is above USD1.00:

The supply of HAY will have to be increased. In this scenario, HAY is at a premium, and borrowers are incentivized to borrow more HAY to sell for other assets.

Helio will reduce HAY farming rewards by decreasing HAY borrowing interest to reduce demand for HAY farming.

When HAY’s price is below USD1.00:

The supply of HAY will have to be reduced. In this scenario, HAY is at a discount, and borrowers are incentivized to purchase HAY from the market to pay back the debt.

Helio will increase HAY borrowing interest to decrease HAY borrowing demand, which increases HAY farming rewards.

Here is a breakdown on our advantages:

Helio Protocol is very similar to MakerDAO and differs from other stablecoins like UST since it is not algorithmic but instead we are over-collateralized by BNB which provides more security

We chose BNB since it doesn’t have high gas fees like Ethereum and therefore we have an advantage over USDT.

Our next steps include continue our testnet which we began yesterday and already have hundreds of people participating, you can join here: https://testnet.helio.money/app/loans/

As mentioned before, today we also released our newest campaign, Do2Earn, where you can participate in a few quests to earn points and the top 100 participants with the most points will earn rewards in BNB.

Start earning points now 👇👇

https://twitter.com/Helio_Money/status/1534831953014411264?s=20&t=etEbBlEk1wdKSexDL67vEg

To answer the last part of your question, our marketing plans are to participate in a AMAs to build a stronger community and to grow our brand awareness and continuing both our testnet and the Do2Earn campaign.

you bring elements of novelty into this mechanism.

Thank you for your well detailed answers

My pleasure!

Great answers and really amazing sistem

Are you ready for the next question

Yes, let’s move on to question 5

Q5 from Telegram User @Cheriemike

$HAY being the stablecoin of Helio and it is over-collateralized with BNB tokens.I want to ask about $HAY collateralization ratio and collateral quality,So $HAY token is currently collateralized at what percentage and what is the minimum collateral ratio % and is the collateral ratio transparently maintained?Also the failure of TerraUSD prompted from warnings across the cryptocurrency sphere that algorithmic stablecoins may not be sustainable.So can you tell us the methods you have implemented to ensure that $HAY is sustainable?And have you gotten any legal stablecoin regulations from governmental authorities for $HAY?Please explain Thanks

Thank you for your question @Cheriemike

Amongst the various stablecoin models, it has been proven that over-collateralized stablecoins are the most sustainable.

MakerDAO’s DAI stablecoin is the perfect example, and HAY’s architecture is similar. The main difference is that Helio is an enhanced version aiming to solve the capital efficiency of MakerDAO by allowing the collateral to generate rewards earned by the Helio protocol through BNB Liquid Staking.

Helio token holders will then decide how the protocol’s revenue (borrowing interest + rewards from collateral) will be redistributed to HAY liquidity providers and stakers. This effectively enables HAY to enable yield in a sustainable way since the collateral is mechanically larger than the staked HAY coming from borrowing due to the over-collateralization nature of the Helio protocol.

$HAY’s collateral ratio is stable and is currently collateralized at 75% but this can be changed by the governance

Very detailed

Ready for the last question for this part of our AMA?

Yes!

Q6 From Telegram User @QuianaV

For A project like Helio.money where users deposit their assets, security and safety of asset is a very important factor for investors especially in terms of decision making of your Project and Also according to your audit, ownership has not been renounced yet and significant and special rights are left with admin team, with this right with Admins, how can investors have proof of trust in Helio Protocol? Are there plans to Renounce these Privileges soon and implement a Governance System/DAO to oversee special administrative controls, control flow of assets of the Helio Protocol? What are the factors and requirements for user to be able to Join DAO partake in decision making of the Helio Protocol?

The team will take a staggered approach.

First, the team aims to enable the HELIO token holders to vote on the distribution of the Helio revenue pool (staking rewards from collateral captured by Helio protocol + borrowing interest from borrowers) to HAY liquidity pools, and in a second step also HAY stakers.

Furthermore, HELIO token holders will be able to vote on the distribution of the HELIO token reserve pool, coming from minted HELIO. The main choices will be related to borrowing incentives and incentivizing HELIO token liquidity pools.

Decisions related to target borrowing rates and collateral ratio for every type of collateral will be taken by a Helio Risk Management Team.

Finally, the Governance System/DAO is the ultimate goal to make sure that significant decisions related to Helio strategy and future developments are taken by HELIO voters.

Can’t wait to see what the Satoshi Club community has for me!

Thank you @Helio_Hayman for this first part of our AMA

Excited for your questions

Get ready for some Great questions

We will now like to proceed to the second part of our AMA, our members will ask you their questions directly, are you ready for them?

Yes!

Chat will be opened for only 120 secs, do wait till the chat is closed

get ready it’s going to be powerful

Part 2 — live questions from the Telegram community

Q1 from Telegram user

Do you have any Audit certificates for investors safety and trust? Is your smart contract Audited and safe so that we can be sure project is legit?

Yes we were audited by leading blockchain auditing companies, you can check all our audits here: https://github.com/helio-money/helio-smart-contracts/tree/master/audits

Q2 from Telegram user

I’m afraid that stablecoin accident like $UST will happen again since $HAY is stablecoin, how are your opinion regarding $UST case and how do you handle it ?

We are very sorry about what happened with UST.

Here is our thought on the situation: UST is a non-asset-backed algorithmic stablecoin. To keep its peg, it employs a sophisticated arbitrage mechanism. Under certain market conditions, the lack of asset backing puts algorithmic stablecoins at risk of de-pegging.

HAY, on the other hand, is a stable coin that is over-collateralized and backed by BNB reserves. That is, regardless of market conditions, there will always be enough BNB reserves to keep HAY pegged in perpetuity.

Q3 from Telegram user

Can you tell me What does Over Collateralization means? Can you explain this in Layman Language?

Sure! This is a great question.

The collateral provided is worth more than enough to cover potential losses in the event of default.

For example: John deposits $100 USD in BNB as collateral on Helio. Helio allows John to borrow $80 USD in HAY stablecoin (80%). The remaining 20 USD in BNB is locked in the Helio protocol as over-collateral. John will be granted access to the $20 in BNB used as over-collateral once his HAY loan is paid off.

You can also learn more about it on our Twitter Thread below
https://twitter.com/Helio_Money/status/1526592245645946881?s=20&t=EHwRbTVnq0vIXa6itGe3Ig

Q4 from Telegram user

When we look at the market in terms of sustainability, I noticed similarities between $DAI and $HAY token, so what are the differences between MakerDAO’s $DAI token and Helio Protocol’s $HAY token? How will you ensure that the $HAY coin is sustainable in the market in the long run?

MakerDAO’s DAI stablecoin is the perfect example, and HAY’s architecture is similar. The main difference is that Helio is an enhanced version aiming to solve the capital efficiency of MakerDAO by allowing the collateral to generate rewards earned by the Helio protocol through BNB Liquid Staking. Helio token holders will then decide how the protocol’s revenue (borrowing interest + rewards from collateral) will be redistributed to HAY liquidity providers and stakers. This effectively enables HAY to enable yield in a sustainable way since the collateral is mechanically larger than the staked HAY coming from borrowing due to the over-collateralization nature of the Helio protocol.

Q5 from Telegram user

So many projects prefer to communicate about the short or medium mission and vision statements, but what are your short-term goals for your project? What are you concentrating on right now?

Right now our main focus is to collect as much feedback from our community as possible in regards to our testnet and get people joining our Do2Earn campaign, which you can learn more about here: https://twitter.com/Helio_Money/status/1534831953014411264?s=20&t=EHwRbTVnq0vIXa6itGe3Ig

Q6 from Telegram user

Is there any ongoing or upcoming events where users can participate ?

We will be hosting game nights on our Telegram and Discord communities and the winners will be earning prizes

Q7 from Telegram user

Hello sir,
I am interested to invest in your project. When and where can I buy your tokens?? Is it already listed exchanges??

Our token is yet to be listed, we are on the testnet phase!

Please keep an eye out for out social media channels for more information on our TGE

Q8 from Telegram user

How can we borrow the HAY stablecoin ?

You need to deposit BNB in order to borrow $HAY, you are then rewarded $HELIO tokens which offset the borrowing fees

Q9 from Telegram user

Do you accept suggestions and feedback as your community members? What kind of decisions do you allow? And most importantly, how can we convey our feedback to you?

Yes! We are currently accepting suggestions and feedback in relation to our testnet and we have a channel for suggestions on our Discord server!

Q10 from Telegram user

Helio’s stablecoin is called HAY and is over-collateralized with BNB tokens. Why did you choose BNB over another currency?

We chose BNB for multiple reasons:

🔸Low transaction fees
🔸Established & Diverse Ecosystem
🔸Multi-chain Scaling
🔸EVM-Compatible Blockchain
and much more!

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Telegram –https://t.me/helio_money
Medium –https://medium.com/@Helio-HAY
WebSite — helio.money
Twitter-https://twitter.com/Helio_Money

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Satoshi_storyteller

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