Hi, the community-focused crypto platform has announced a massive rewards program for liquidity providers.
Furthermore, the team revealed the MEGA Liquidity Pool, with rewards expressed in hi Dollars. Moreover, the Pool has a fixed deposit lockup time of 6 months and will run for 12 months.
According to the annoucement, the MEGA Pool had 322,116 HI/444,899 BUSD staked at the time of writing this article. It promised a whopping annual yield of 1,552%, far more than leading DeFi protocols.
ANNOUNCING A MEGA 10 MILLION HI LIQUIDITY POOL 🌊🤑
Did someone say SKY HIGH APYs?
Yes that's right – we are giving away 10 million hi Dollars with our new #hiMegaPool – and it's time to DIVE RIGHT IN 🤿
— hi (@hi_com_official) December 20, 2021
HI’s Second Staking Pool
The second staking pool is called “FLEXI pool,” which has 462,719 HI/639,098 BUSD locked as collateral when writing this article. Furthermore, it was touting an impressive APY of 428%. Also, staking is flexible in that collateral can be removed at any time.
Additionally, members who have already staked in the first Pool can easily move tokens to the second Pool. To participate, users need to go to PancakeSwap to contribute by adding liquidity to the HI/BUSD pair. Then, they will get issued with liquidity provider (LP) tokens that can be staked in Hi’s pools.
Source: Hi Staking
Moreover, participants will gain rewards based on their % share of the overall liquidity pool. Therefore, the total rewards are split between all staked liquidity providers.
On the other hand, HI celebrated its first 6-month milestones in mid-November, reporting that it had onboarded 1.6 million users. Moreover, just a few days later, the platform announced the launch of its mobile apps on Android and iOS.
$HI Price Outlook
The $HI Dollar is not a dollar as they are not pegged to any fiat dollars. As a result, prices fluctuate depending on supply and demand.
At the time of writing, HI was trading up 5.6% on the day at $1.36, which has gained 32% over the past month and is just 11% down from its December 8th all-time high of $1.57.
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