What is Hylo
Hylo is a new decentralised finance (DeFi) product on the Solana blockchain, designed to bridge the gap in traditional finance, allowing users to earn incentives from liquidity provision and leverage trading, and enjoy the scalability and independence that blockchain technology provides.
The Hylo platform introduces two innovative decentralised stablecoin systems, hyUSD and xSOL, which allow liquidity providers to utilise its native stablecoin on the Solana network and Solana tokens as collateral, while users can earn yield rewards from both products.
This idea of earning rewards for holding both products on the Hylo platform has attracted many users and liquidity providers, as the platform has generated over $80 million in total value locked, indicating strong interest in yield.
Hylo Team – Who Are Behind Hylo
Hylo’s team consists of members who have strong backgrounds in blockchain, DeFi, and traditional finance, to provide solutions to yield farming, bring innovative ideas into the on-chain market, as this has attracted investors such as Robot Ventures, Colosseum, and Solana Ventures, all of which are venture capitalists in the blockchain space.
Not only has this team won the hearts of venture capitalists, but angel investors and contributors are also strong believers in the future of Hylo as the ecosystem continues to grow, recording over $100 million in total value locked.
Contributors and Funding
Hylo’s team on its official X account announced a $1.5 million seed round led by @robotventures, with participation from @colosseum and @SolanaVentures.
The DeFi project also welcomed other founders, developers, and angel investors such as @gizmothegizzer, @TruittLuke, @ttrofel, @mattyTokenomics, @seanhu001, @crispheaney, @0xCupidGL, @ReoffGenaud, @DefiSolar, @eash0x, and @YTWO_VENTURES into its ecosystem as they are focused on building DeFi native money on the Solana network.
Hylo Airdrop – Step-by-step Guide
Hylo has launched its Season 1 XP farming, allowing users to participate and earn from farming points. Users are expected to earn points by holding hyUSD or staking xSOL in the pool as liquidity. Here are simple steps to earn:
1. Go to the website and connect your Solana wallet:
2. Select the XP farming method that interests you
3. Stake hyUSD in the Stablecoin tab
3.1. Stake hyUSD to boost your APY by 20% and earn
3.2. Buy Leveraged xSol to XP farming
4. Track your progress in the XP tab and invite your friends!
Farming XP points is straightforward on the Hylo platform, as it offers users different opportunities to earn with xSOL or hyUSD tokens working hand in hand.
Key Takeaways of Hylo Airdrop
Hylo is a new DeFi technology focused on shaking up the DeFi yield industry by offering hyUSD and xSOL as yield and leverage products on the Solana network, allowing users to earn rewards by either holding its native stablecoin or leveraging xSOL.
The crypto project continues to grow, surpassing $100 million in TVL and securing funding of around $1.5 million from venture capitalists, founders, and angel investors.
Community Details
To stay informed about community happenings, use these community pages for firsthand information.
🌐 Website: https://hylo.so/
🐦 Twitter/X: https://x.com/hylo_so
💬 Discord: https://github.com/hylo-so
📝 Docs: https://docs.hylo.so/introduction
If you are interested in similar farming projects, we recommend reading our other recent or ongoing airdrops worth checking out. At UseTheBitcoin, we make sure you don’t miss out on airdrops that are worth your time and attention, so you can maximize your gains!
