Relay and Hummus are proud to announce a partnership on the Metis Andromeda network. Stablecoin yield seekers will be able to bridge their DAI to Metis with the RelayChain bridge and single stake it to earn rewards. During times of market uncertainty, earning yield on trusted stablecoins is one of the safest bets.
Hummus is the first officially licensed fork of Platypus, the innovative and popular Avalanche stableswap. What makes Hummus different than other stable exchanges? Liquidity providers can provide liquidity with just a single asset. There is no need to pair it with another stablecoin. Are you a fan of DAI and not USDT? Then just stake DAI alone and earn their native token $HUM. Once you’ve earned $HUM, you can stake it to accumulate veHUM and significantly boost your yield. You can also buy $HUM from Netswap if you want a larger boost right away!
A link to the RelayChain Bridge is embedded in the Hummus UI. Users can click this link to bridge their DAI to Metis and earn with Hummus. This will provide important liquidity depth for DAI, one of the most popular stablecoins. Users of hummus can swap between DAI, USDC and USDT. This creates another efficient on/off ramp for Metis.
RelayChain enables fast, secure and low cost cross-chain token transfers between the worlds leading blockchains. The platform offers Bridging as a Service (BaaS) to partner networks and dApps wishing to expand their footprint beyond a single chain. RelayChain currently supports bridges between any combination of Metis, Moonbeam, Cronos, Harmony, MultiVAC, Moonriver, Metis, IoTeX, Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, Shiden and HECO. Multiple popular networks will be added in the near future. A unique feature of RelayChain is that once a token exists on our platform, it can be bridged to any other EVM in our list of networks. This can be done in one step without need to return to the parent chain first. This represents a major feature of speed and convenience for all users. The RELAY token holds high utility as it is used to reward stakers with a share of the native gas tokens collected from bridging fees. It’s a deflationary token; the more transactions that occur, the more RELAY is bought back and burned. RelayChain can quickly enable any project’s tokens to be bridged for a low cost to the project.