The launch of the Hover Lending Protocol, scheduled for February 21, is approaching.

Hover Lending Protocol offers its users an innovative approach in the DeFi space, allowing users to lending or borrow their crypto assets so that they can also generate passive income or meet their liquidity needs.

Deployed on Kava Chain, Hover’s full launch will take place on February 21st, and from then on all users will be able to generate income by supplying assets and they will be able to borrow against the collateral they provide. This date is also the deadline to participate in the HOV token public sale. Currently, the HOV token sale is ongoing on Dao Maker.

Token Sale Detail

✅ Refundable IDO
💰 $1M Total Raise,
💰 FDV $27.5M.
💎 Listing CEX(TBC) & DEX(WAGMI, Kinetix)
🔄 66% Tokens unlock at TGE, 34% after 180 days
🌟 Token Supply 1,000,000,000 HOV
📈 Initial Market Cap of $6.99M
⚡️2 (Two) SHO rounds
👉$500,000 (in $DAO)
👉$500,000 (in $USDT)
⚡️Token Sale Ends: 21 Şubat 2024 12:00 GMT

You can check out the research page here and participate in the $HOV token sale (https://app.daomaker.com/project/hover)

Now, let’s take a look at how to use the Hover.

You can invest your assets in Hover’s lending pools to earn a return. Currently $KAVA, $ATOM and $USDt are supported, with add more tokens planned.

Since the full launch of the platform has not yet taken place, I’m sharing a video that shows you how to add assets via Genesis pools. (This video covers the stages of supply, deposit and claim rewards.)

As of February 21st, after the platform launch, we will see how we can borrow against collateral. But considering the understandability of the platform interface, I think this part will also be very easy.

How will the borrowing rates be determined?

Hover users can borrow at algorithmically determined rates based on the amount of collateral they deposit. This is closely linked to the platform’s Health Factor, which determines how much users can borrow based on the value of their deposited assets. To give an example;

If we deposit 5000 USDT worth of KAVA, we can borrow 3500 USDT worth of USDT or ATOM.

At this stage, I think it would be appropriate to talk about token economics.

Hover’s token model includes three key components that incentivize long-term sustainability of the platform and user engagement:

Hover Tokens (HOV, esHOV, xHOV): Hover uses three token models. HOV is the native token that can be staked and converted to esHOV at a 1:1 ratio. esHOV offers discounts on borrowing, lending and liquidation fees and can be converted to xHOV after KYC is completed. xHOV offers access to Hover Rewards in addition to the benefits mentioned above.

Staking Program: Users can stake HOV in order to receive discounts on protocol fees and gain management rights. Depending on the amount of staking, a certain VIP level is reached, which qualifies for various discounts on lending, borrowing and liquidation transactions.

Hover Rewards: Users who pass KYC verification can convert their esHOV to xHOV and access Hover Rewards. Rewards accumulate in each block and are distributed on a weekly basis as a mix of assets backed by xHOV.

Conclusion

Hover Lending Protocol offers an innovative transformation in the DeFi space. The platform is shaping the future of sustainable finance with user-friendly staking programs, reward mechanisms, and secure lending options.

Website: https://hover.market
Twitter: https://twitter.com/hover_market
Telegram: https://t.me/Hover_Market
Medium: https://medium.com/@Hover_Market