Introduction

Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble's core product is USDH, a decentralized stablecoin that can be borrowed against your crypto assets. Users can deposit multiple crypto assets like SOL, BTC, ETH, and others, to borrow USDH. In turn, USDH can be used to serve various purposes across Solana DeFi. Hubble will offer multiple USDH borrowing vaults, with various asset combinations and vault-specific parameters such as Stability Fees and Deposit Caps. USDH borrows are guaranteed by a combination of Hubble's USDH Vault (Stability Vault), and bots that facilitate market-based liquidations. The USDH that users deposit into the USDH Vault is used to pay off bad loans, while depositors earn a net positive ~10% difference in liquidated assets. In addition, users who deposit USDH in the USDH Vault earn HBB, Hubble's native token. In the coming phases of development, the protocol will launch various products and services to bring further utility to the platform, and USDH itself.

Hubble Uses:

• Borrow USDH for as long as you’d like.
• Deposit multiple cryptos to mint USDH: SOL, BTC, ETH, mSOL, stSOL, daoSOL, RAY, SRM, FTT, cTokens from Solend, and kTokens from Kamino
• Yield positive interest on collateral deposits (earn while you borrow)
• Earn protocol rewards by staking HBB
• Earn from liquidations by depositing USDH in the Stability Vault (formerly Stability Pool).

USDH StableCoin

USDH is a censorship-resistant, crypto-backed stablecoin, soft-pegged to the US Dollar. USDH is fully collateralized by a basket of crypto assets, deposited into a Hubble Smart Contract. USDH is Solana-native, and can be held in any Solana wallet. For every 1 USDH on the market, more than $1 of crypto is deposited into Hubble. All USDH in existence is minted from Hubble Protocol. Users can mint USDH by depositing their crypto assets into Hubble. By depositing collateral, a user enables the minting of USDH, thus bringing more USDH into circulation.

USDH Uses:

• A store of value to earn yield across various protocols on Solana
• A medium of exchange to send to other users
• As a means of payment for services

USDH can also be deposited in Hubble to earn liquidations rewards and the Hubble Native Yield.

Methodology

in this dashboard i use flipside date for analysis this Dashboard

i use solana.core.fact_transactions and solana.core.fact_transactions

and i use this program id for Hubble protocol

HubbLeXBb7qyLHt3x7gvYaRrxQmmgExb7fCJgDqFuB6T

USDH Contract = USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX

Subject in this dashboard:

• analysis type of transactions in hubble protocol
• analysis Active and new users
• analysis mint nad burn transactions
• analysis mint and burn raito
• analysis USDH flow ,users and Volume in solana ecosystem and hubble
• analysis USDH swaps

According to the data, currently, total number of transactions done in Hubble Protocol is 442K TX made by 4570 unique users.

Similar to the users chart, we can also see the decreasing trend of transactions on Hubble protocol over time.

Same as Previous charts, most number of transactions on Hubble protocol has achieved during February 2022 and after this date we can see quite decreasing trend over time.

On the above chart, we can see the growth rate of the Hubble protocol in population over time.

The huge decreasing trend of the number of daily new users on Hubble protocol is clearly visible on this chart especially during recent days.

The most number of new users on Hubble protocol has achieved on 1st February 2022 with total 510 new interacted users with this protocol.

There is also another spike of new Hubble protocol users on April 2022. But after this date, we can see very low number of daily new users on Hubble.

On the above data, we can see 3.02% of all transactions on Hubble protocol are Mint events while only 0.09% of all transactions is Burn event.

On the abovechart, we can see high activity of Mint and Transfer transactions during the first days of the chart with a total decreasing trend over time.

Moreover, we can see the highest spike of Burn events on 11th May 2022, the same time when the huge crash in the crypto market (because of Luna) happened which is rational.

On the above charts, we can see quite increasing flow of USDH over time, especially during recent months after August.

There was high flow of USDH on Solana during the first days of the chart (as well as Hubble protocol) but after a while and till August, there was quite decreasing trend of this Stablecoin flow on Solana, Again after August, we can see significant increasement of USDH activity on Solana over time in both terms of transactions and users count.

In terms of volume, we can also see increasing trend over time especially during recent weeks after September.

On the above charts, we can also see an almost similar trend to the previous chart but with a way lower bars.

USDH flow on Hubble protocol was high during the first days of the chart but after a while, its flow has decreased over time till September 2022.

After September, we can see high activity of USDH flow on Hubble over time till today.

In terms of volume, we can also see increasing flow of USDH on Hubble especially since beginning of the September.

• According to the charts above, which shows the total transactions, two big jumps can be seen, one on June 10, 2022 with 109.5 thousand transactions and the second highest peak on May 1, 2022 with 63.5 thousand transactions. The total of mints per day shows a declining trend, which peaked at 887 mints early in the time frame on February 1, 2022, and then steadily declined over time. A big jump can be seen in the total number of mints, which is on February 1, 2022, with 887 mints, and in the rest of the time, it has continuously decreased.
• Total burns per day are indicative except for some days with the highest being May 11, 2022 with 122 burns, most days having 0 or 1 burns.

USDH Swaps

USDH Flow

Mint and Burn

Users

Transactions