BHACCUS

The launch day was amazing, and we're immensely thankful for the enthusiastic involvement of our community. Having gone live just 48 hours ago, the TAO Bridge has swiftly captivated the ecosystem, with over 20,000 $TAO tokens now bridged. The TAO Liquid Staking Protocol has rapidly evolved to become one of the largest liquid staking protocol within the #Bittensor ecosystem, unlocking numerous DeFi opportunities for $TAO. #Bittensor's removal of the traditional cooldown period signifies that $TAO LSDs (Liquid Staking Derivatives) are primarily aimed at unlocking essential DeFi strategies for its holders. With the introduction of TAO Liquid Staking and the incorporation of $swTAO and $wTAO money markets into our lending protocol, we enable users to lend, borrow, and trade, all while maintaining and boosting their staking rewards. Savvy investors are already taking advantage of our lending protocol to significantly multiply their staking rewards from $TAO earnings. By strategically using looping and borrowing mechanisms involving $wTAO and $swTAO, some are effectively multiplying their staking returns, showcasing the substantial financial leverage available in our DeFi ecosystem. $wTAO trading has also been quite intense and has established itself instantly on both @xExchangeApp and @ash_swap; thousands of trades occurred, and we're sure that this will continue to increase following the farm pool on @xExchangeApp. Key Opportunities With the successful integration of $wTAO across multiple protocols on #MultiversX, it is now possible to earn significant yields on your holdings and unlock a world of exciting opportunities for both the #Bittensor and #MultiversX communities. Among the most notable opportunities are: Liquid Staking to Earn Rewards While Retaining Liquidity Through liquid staking, users can now deposit their $wTAO and receive $swTAO. $swTAO is a fully liquid token that can be further utilized in the ecosystem, for example, in the Hatom Lending Protocol to generate additional rewards. The interest in Liquid Staking is significant, with over 18,300 $TAO out of a total of over 22,200 $TAO bridged being deposited in this module, valued at over $9.9 million. Currently, the Liquid Staking APY averages around ~17%, one of the highest yields available exclusively for staked $TAO. This yield can be further increased by engaging with the Lending Protocol to supply $swTAO or multiplied significantly by implementing leverage liquid staking strategies. Supply $wTAO or $swTAO in the Lending Protocol The integration of both $wTAO and $swTAO adds even more utility for the $TAO token. As the only lending protocol in the #MultiversX ecosystem, it provides users with over $140 million in liquidity for various strategies or to access stablecoin liquidity without selling $TAO and maintaining exposure to it. The Lending Protocol incentivizes both $wTAO and $swTAO Money Markets with $1 million to increase liquidity, distributing $250k in rewards during the first month. The yield offered by the Lending Protocol on both $wTAO and $swTAO is far superior to that generated through any other strategies that do not involve impermanent loss and have no cooldown period: —> More than 43.5% APY can be generated on $wTAO by simply depositing the tokens in the Lending Protocol and activating them as collateral; this can be further increased with another 16.5% APY, resulting in a Total Net APY of ~60% APY if, in the Booster, 10% of the value of the collateral is staked in $HTM tokens. —> Over 43% APY can be generated through $swTAO supplied in the Lending Protocol and activated as collateral; the position can receive a 14% boost if $HTM tokens are deposited in the Booster. Additionally, users can claim all additional rewards generated by $wTAO and $swTAO with a 5% premium if claimed directly through the Accumulator in $HTM tokens instead of $USDC. For a better understanding of how the Booster and Accumulator work and the benefits they offer, please read more about them by accessing the official pages of our documentation: docs.hatom.com/getting-starte… docs.hatom.com/getting-starte… Leverage the Lending Protocol and Liquid Staking for Leveraged Liquid Staking Since the introduction of liquid staking derivatives, the opportunities to generate yield have increased significantly. The ability to earn staking rewards while remaining liquid has seen growing interest, further amplified by the integration of these liquid derivatives into lending protocols. With our current incentivization structure, users have the opportunity to achieve a return of over 100% APY through the implementation of a Leveraged Liquid Staking strategy. To provide a concise overview of the steps involved in executing this strategy, consider the following: 1. Deposit $wTAO in the Liquid Staking Module and receive $swTAO. 2. Deposit $swTAO in the Lending Protocol, and activate it as collateral to generate rewards and also be able to take a loan. 3. Borrow the desired amount of $wTAO from the Lending Protocol. 4. With the newly borrowed $wTAO, repeat this cycle again until the desired result is achieved. The three-digit APY can only be achieved if the positions are fully boosted with $HTM tokens staked in the Booster. However, even positions with no boost can still achieve more than an 80% APY through this strategy. It’s important to note that while this strategy is considered safe since the same token is being lent and borrowed, users must ensure that the borrowing limit used in the Lending Protocol does not reach 100% at any time to avoid liquidation. It’s mandatory to monitor all positions to ensure that the rewards generated by the supplied position are always higher than the total interest paid on the loan. *Please note that the yields presented in this post represent current values at the time of posting and may differ by the time you read this. Provide Liquidity in Leading Decentralized Exchanges in the MultiversX Ecosystem To facilitate smooth trading of $wTAO and enhance the on-chain user experience, we have collaborated with our partners at @ash_swap and @xExchangeApp to create multiple liquidity pools. Let’s highlight some metrics from these integrations: —> On xExchange, the wTAO/EGLD pool was created, achieving over $340,000 in liquidity since its launch; the current APR for liquidity providers stands at an impressive 71%, and $TAO holders will be able to generate even more rewards once the farm for the LP is open. —> On Ashswap, the wTAO/USDC pool attracted over $163,000 with a base APY of ~57%; moreover, as liquidity providers can deposit the LP token for the pair in the Farm, the yield generated can increase up to ~175% APR, with an extra 41% paid in EGLD and 77% paid in wTAO. Through these liquidity pools, users can provide liquidity to earn fees from swaps performed on-chain for the wTAO pairs, and also increase their rewards by actively farming the LP tokens. All LPs are incentivized to motivate users to provide liquidity, thereby enhancing the trading experience. Moreover, wTAO will be further integrated into the ecosystem, with the majority of protocols recognizing its value; a clear example is @ash_perp, which created the first perpetual market for TAO on #MultiversX, allowing users to trade with up to 100x leverage in a fully decentralized manner. In addition to the opportunities mentioned earlier, it's important to highlight the attractive APY rates offered for stablecoins in the Hatom Lending Protocol. With users borrowing stablecoins like USDC and USDT, the base APY has significantly increased, making the yields for farming stablecoins unmatched. Users can generate up to 26% on USDC and 32% on USDT, with no impermanent loss and instant withdrawals from the Lending Protocol. The high yields are achieved through the utilization rate of these two money markets in the Lending Protocol which are also incentivized. The utility of the TAO token has been significantly enhanced with the launch of TAO Bridge and its integration into the #MultiversX ecosystem. Considering the current steady growth of TAO Bridged, and the liquidity provided in our Lending Protocol, but also exchanges we truly believe that #MultiversX will become a leading hub for the decentralized trading of TAO. Exploring the Future of wTAO within Our Evolving Ecosystem Mid-term Vision Within the Hatom Protocol, soon users will be able to mint USH, Hatom's native and over-collateralized stablecoin, and use it in their daily operations while retaining access to their TAOs. Long-term Vision As Hatom is set to expand to other networks with the introduction of Hatom V2, the TAO Bridge will also expand, unlocking the same utilities for $TAO on all the leading blockchains. As we deploy Soul Protocol v1, all Hatom liquidity across various networks will be unified and no longer siloed. Not only this, but it will also merge with other established protocols like @aave or @compoundfinance. Using @LayerZero_Labs, users will be able to bridge their $TAO, supply it on all the Hatom lending protocols, and unify their borrowing power by having multiple chains' positions act as one and take over-collateralized borrows instantly without relying on synthetics or bridging for these cross-lending and cross-borrowing operations. This experiment has proven to be immensely significant, showing that utilizing a user-friendly, cost-effective, fast, and secure blockchain like #MultiversX to tackle DeFi challenges faced by established projects like #Bittensor can yield positive outcomes for both networks. We encourage all builders to adopt this expansive mindset, to look beyond traditional boundaries, and to utilize our infrastructure fully to drive broader adoption.

As we prepare for the launch of the TAO Bridge, Liquid Staking, and Lending Money Markets, it is crucial to gain a deeper understanding of the opportunities these new products offer. Engaging with them enables users to enhance their returns and access liquidity while maintaining their exposure to $TAO. First and foremost, Hatom extends beyond merely being a bridge between the #Bittensor and #MultiversX ecosystems. It provides a suite of protocols that work in harmony, unlocking numerous DeFi opportunities for $TAO from the very beginning. Let's delve deeper: Integrations: The launch of the TAO Bridge will coincide with the deployment of the Liquid Staking version of $wTAO, denoted as $swTAO. On the same day, the Hatom Lending Protocol will integrate two new money markets, $wTAO and $swTAO. Upon launch, both $wTAO and $swTAO will have a set collateral factor of 62.5%. However, this rate is subject to change via Governance as trading volumes increase and we ascertain it to be both sustainable and beneficial for the ecosystem. This adjustment aims to optimize the lending and borrowing dynamics within the protocol, ensuring a balanced and secure lending environment for our users. In addition to integrating $wTAO across all Hatom products, we're excited to announce collaborations with our partners at @xExchangeApp and @ash_swap. Together, we will introduce the following incentivized liquidity pools (LPs): • A $EGLD / $wTAO pair on @xExchangeApp. • A $wTAO / $USDC pair on @ash_swap. By establishing these LPs, we enable direct, efficient trading of $wTAO within the #MultiversX ecosystem, eliminating the need for bridges or centralized exchanges for transactions. Both LPs will offer incentives, enabling users to earn swap fees and farm LP tokens, thereby amplifying their potential earnings from liquidity provision. This facilitates direct and efficient trading of $wTAO within the #MultiversX ecosystem, establishing it as a comprehensive hub for all DeFi activities related to $wTAO. These simultaneous launches will unlock significant opportunities for $wTAO users, enabling them to explore a variety of DeFi strategies, including: • Depositing $wTAO in Liquid Staking allows users to earn staking rewards while retaining liquidity to engage with other DeFi products through the received receipt token, $swTAO. • Simply deposit both $wTAO and $swTAO in the Lending Protocol to earn a supply APY and other additional incentives. • Take a loan against your $wTAO or $swTAO to access liquidity if needed, without selling $wTAO and losing exposure to its potential price increase. • Open a long or short position to speculate on the price movement of any assets integrated into the Lending Protocol. • Perform “Leveraged Liquid Staking,” also known as “Looping,” to benefit from increased staking rewards. • Provide & farm liquidity on different DEXs where $wTAO will be integrated. These are just a few of the potential actions everyone will be able to perform, but it doesn’t stop here. With the upcoming launch of $USH, the first native, decentralized, and over-collateralized stablecoin in the #MultiversX ecosystem, users will be able to mint it directly with $wTAO or $swTAO to leverage the novel opportunities that will be available, all without losing any exposure to $wTAO. We are proud to announce an exclusive partnership with @TAO_Validator, a top 5 validator within the #Bittensor ecosystem. By returning 50% of their service fees to stakers, Hatom can offer enhanced Staking APYs to our TAO Liquid Staking users. To facilitate user onboarding to the #MultiversX ecosystem and ensure a seamless experience, we have decided to cover the gas fees for initial transactions when bridging $TAO to #MultiversX. Once the bridge transaction is successful, users will receive some $EGLD in their wallet, sufficient to cover the first few transactions. This enables users to explore the new ecosystem without concerns about gas fees. To ensure a successful launch and an effective Go-To-Market strategy, we're allocating an additional $1 million in $USDC as incentives to support the launch across both the $wTAO and $swTAO money markets within the Lending Protocol. In the first month, $250,000 will be distributed ($150,000 to $wTAO and $100,000 to $swTAO), with 70% focused on rewarding liquidity providers and 30% on users staking $HTM to boost their protocol positions. This incentive distribution will shift in the second month to a balanced 50-50 split, transitioning in the third month to exclusively reward $HTM stakers through the Booster. Metrics Analysis for the Initial Month: A Total Value Locked (TVL) of $20 million in wTAO will result in: • An additional APY of 9% in $USDC. • This APY is on top of the existing supply APY, which is typically high because $wTAO is frequently borrowed for leveraged liquid staking. For a TVL of $40 million in wTAO, the APYs will result in: • An additional 4.5% APY in $USDC, on top of the other APYs. A TVL of $20 million in swTAO will result in: • An extra 6% APY in $USDC. • This APY is in addition to the existing supply APY and the liquid staking APY, which is comparable to traditional staking, approximately estimated at around 19%. For a TVL of $40 million in swTAO, the APYs will result in: • An additional 4.5% APY in USDC, on top of the other APYs. Users will be able to tap into these additional rewards by simply supplying liquidity for wTAO and swTAO in the Lending Protocol and activating it as collateral. Mainnet Launch: The Mainnet launch is scheduled for March 27th at 16:00 UTC, 5 days from now. You can access it at wtao.com, which redirects to app.hatom.com/bridge. Anticipation builds as our Lending Protocol page features a countdown to the exact moment our innovative products for TAO holders become available. Stay updated and monitor the countdown by visiting: app.hatom.com/lend. Security: It's already recognized that our commitment to security is paramount, a principle we've rigorously applied in the design and development of our product suite. The TAO Bridge and TAO Liquid Staking have undergone multiple audits by esteemed auditors in the space, ensuring that every aspect of these products adheres to the highest standards of security and efficiency. Our partners, @rv_inc and @arda_project, have conducted comprehensive security audits of the $TAO modules. Additionally, @CertiK has carried out a Penetration Test and DevSecOps audit, further ensuring the safety and security of our users. For a detailed breakdown of the findings and fixes that were performed, please find all audits by accessing this link: docs.hatom.com/getting-starte… With Hatom V2, we’re transitioning the entire Hatom ecosystem to be omni-chain, meaning we’ll deploy all our protocols and infrastructure across multiple chains. The bridge is also a key part of this transition, marking just the beginning of an exciting journey.