Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$115.3KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $115.3K | -- | -- | -- |
| Sep 2026 | $276.86K | -- | -- | -- |
| Aug 2026 | $122.82K | -- | -- | -- |
| Jul 2026 | $88.06K | -- | -- | -- |
| Jun 2026 | $110.64K | -- | -- | -- |
| May 2026 | $90.06K | -- | -- | -- |
Comparison
Follow Updates
Follow Lists
People
About Hylo
Hylo is a decentralized stablecoin system built on Solana. Its core business revolves around issuing hyUSD, a stablecoin pegged to the US dollar, and xAssets, leveraged tokens such as xSOL and xBTC. The system uses SOL liquid staking tokens (LSTs) as collateral. hyUSD maintains its peg through a unique mechanism: xSOL absorbs the volatility of the underlying SOL, while the protocol dynamically rebalances collateral to keep hyUSD stable. This design avoids the need for centralized reserves or over-collateralization with volatile assets.
The main pain point Hylo addresses is the trade-off in traditional stablecoins between centralization (e.g., USDC/USDT) and capital inefficiency (e.g., over-collateralized loans). By using LSTs and a two-token model, Hylo aims to offer a decentralized, capital-efficient stablecoin while providing leveraged exposure to crypto assets without liquidation risk for token holders.
In the past six months, Hylo launched V2, introducing the xAsset Engine to expand beyond SOL into multi-asset classes, including equities, commodities, and yield assets. It also launched xBTC, a 3x leveraged Bitcoin token. The V2 upgrade replaced the Stability Pool with an Earn Pool model, relying on market-driven rebalancing via arbitrageurs and liquidity providers instead of a reserve pool. Additionally, Hylo expanded its collateral architecture to accept multiple asset types, including USDC as overflow collateral.
However, Hylo faced significant stress in Q1 2026. When SOL dropped 33%, the protocol's TVL fell from $52 million to $22.8 million, a 58% decline. The Stability Pool was triggered multiple times, deploying $7.9 million of hyUSD to defend the peg. While the peg held, the event highlighted the protocol's sensitivity to severe market downturns and the concentration risk of relying heavily on SOL as the primary collateral asset.
Hylo Protocol was founded in 2024 to build a self-sufficient stablecoin system on Solana. It placed second in the payments track at Solana Radar Hackathon, was selected for the Colosseum accelerator, and received a Solana Foundation grant, laying the foundation for early development.
It launched publicly in June 2025 with a points program; in August, it completed a seed round led by Robot Ventures. The protocol then grew rapidly: TVL surpassed $60M in September, exceeded $100M in October, and weathered the October 10 mass liquidation event, validating its risk engine. By November, protocol revenue exceeded $1M.
In March 2026, V2 beta launched; in June, V2 was officially announced, introducing the xAsset engine to expand leveraged tokens from SOL to assets like BTC, with xBTC launched. This marked a strategic shift from single collateral to a multi-asset framework. V2 also replaced the Stability Pool with an Earn Pool, reducing stablecoin volatility exposure and improving long-term sustainability.
Over the past six months, Hylo underwent a major V2 upgrade, shifting from a SOL-only leveraged model to a multi-asset framework. The beta launched in late March, followed by the official release of eHYUSD in July, replacing sHYUSD as a delta-neutral, yield-bearing stablecoin that no longer holds xSOL directly but earns from rebalancing PnL across all xAssets. xBTC launched as the first non-SOL leveraged token, with tighter rebalance bands for xSOL and a USDC blowoff valve to remove hyUSD supply caps. The protocol also introduced an Earn Pool model, replacing the Stability Pool, and expanded its ecosystem directory.
Future plans focus on expanding the xAsset lineup beyond BTC and SOL, targeting equities (TSLA, MSTR, SPY, NDAQ), commodities (gold, silver, oil), and yield-bearing assets. The roadmap includes deploying idle USDC into yield positions, refining rebalancing mechanisms, and deepening partner integrations to grow multi-asset collateral backing for hyUSD.
Co-founder & CEO: Plish (Twitter: https://x.com/0xPlish), who led Hylo to win the Colosseum Radar Hackathon and surpass $100M TVL. Head of Growth: Sape, responsible for user acquisition and protocol expansion. No other confirmed core executives found.