What is Hyperstable?

Hyperstable is a decentralized stablecoin protocol that issues $USDH, a crypto-backed and over-collateralized asset pegged to the US Dollar. Users can mint $USDH by depositing supported collateral types, such as stHYPE, with a minimum collateralization ratio of 110%. Liquidity providers can earn $PEG tokens by supplying liquidity to approved pools on platforms like Curve and staking their LP tokens. Holders of $PEG can lock their tokens into vePEG to receive a share of the protocol's revenue, participate in governance by voting on emission allocations, and protect against dilution through rebases. The protocol's revenue is generated from interest and fees associated with liquidations. Additionally, protocols can offer incentives to vePEG voters to attract votes to their pools, enhancing liquidity and participation.