Hummus is a decentralized exchange (DEX) protocol designed for stablecoin exchange on the Metis chain. So what makes Hummus different from other protocols on the market? So What Is Hummus? Let’s find out through the article below.
To better understand the article What is Hummus, people can refer to some of the projects below to get an overview of Hummus Exchange.
- Metis and important points of this ecosystem
- Retroactive zkSync and Starknet Hunting Tactics
- zkSync – Leading the Trend of zk-EVM and zk-Rollup
What is hummus?
Overview of Hummus Exchange
Hummus is a decentralized exchange designed for stablecoin exchange on the Metis Andromeda chain. As a branch of Platypus Exchange, it inherits its security. The protocol is implemented as a set of smart contracts, designed to prioritize censorship resistance, security, self-governance, and high capital efficiency.
Hummus offers a single token feature, eliminating the risk of temporary losses for liquidity providers and low slippage for traders. Hummus is transparent about fees: When using the protocol users are informed about the costs they will incur so they can make informed decisions. Most fees and slippages are smaller than traditional AMMs.
The Hummus Difference
- The key concept underlying the Hummus Exchange design is asset liability management (ALM). Most DeFi protocols today do not use the concept of liability.
- Use single-variant slippage function to expand your services to different verticals like lending and stablecoins.
- Listing of new tokens will be subject to team approval. HUM holders can manage parameters such as fees and asset risk parameters.
Ingredients that make up Hummus
- Liquidity Provider: These are liquidity providers on the pool.
- Trader: Traders perform swap operations.
- Staker: Group of people who stake $HUM to receive $veHUM
Mechanism of action
- Step 1: Option to convert from a stablecoin (USDT, USDC, DAI..) to $HUM token
- Step 2: You can then stake $HUM tokens to receive $veHUM (1 HUM = 0.014 veHUM/hour)
- Step 3: Or farm stablecoin pairs with high APY.
Development roadmap
Updating…
Core Team
Updating…
Investor
Updating…
Tokenomics
Overview information about Hummus tokens
- Token Name: Hummus
- Ticker: $HUM.
- Blockchain: Metis.
- Token Standard:
- Contract: 0x4aac94985cd83be30164dfe7e9af7c054d7d2121
- Token Type: Utility.
- Total Supply: 300,000,000 HUM
- Circulating Supply: 85,811,126
Token Allocations
- Liquidity Incentives: 151,250,000 (50.42%)
- Treasury: 60,000,000 (20%)
- Private Sale: 18,750,000 (6.25%)
- IDO: 2,500,000 (0.83%)
- Team: 45,000,000 (15%)
- Exchange Liquidity: 10,500,000 (3.50%)
- Advisory: 6,000,000 (2%)
- Metis Foundation: 6,000,000 (2%)
Token Release
- Liquidity Incentives: Exclusively for Liquidity Mining (Unlock at will depending on appropriate opportunities)
- Treasury: 5% at TGE, 6 months Cliff, 36 months linear
- IDO: 25% at TGE, 6 Months Linear Unlock
- Private sale: 10% at TGE, 3 months Cliff, 18 months linear
- Group: Cliff 12 months, Linear Unlock 30 months
- Exchange Liquidity: 50% at TGE, 6-month Cliff, 6-month Linear Unlock
- Consulting: 12 Months Cliff, 30 Months Linear vesting
- Metis Foundation: 10% at TGE, Linear unlock for 3 months, 18 months.
Token Usecase
The $HUM token has a fairly simple purpose of use: in addition to swapping, it is only used for betting within the platform.
Exchanges
Currently there is no centralized exchange that allows buying and selling of HUM tokens, users can only receive tokens through swaps at the Netswap and Hermes Protocol platforms.
Project information channel
- Twitter: https://twitter.com/hummusdefi
- Telegram: https://t.me/hummusdefi
- Website:
Summary
Belonging to a small group of AMMs with outstanding mechanisms to optimize user assets and also built on a platform that is quite sought after in the near future, Metis Andromeda. Let’s wait and see if Hummus will make a difference in the future. Please leave your comments below in the comments.
Above is what you need to know to understand what Hummus is. Hopefully through this article, people will find the necessary information for the research process.
