The name HYDT stands for High-Yield Dollar-Tethered Token. The protocol aims to create a high-yield, dollar-tethered stablecoin. It can maintain an APY of 16-30%, even without governance token farming, by simply depositing the HYDT stablecoin into the protocol’s earn feature. While the protocol offers high deposit yields, it also features a unique and innovative peg mechanism that keeps the HYDT price close to $1, backed by the protocol’s BNB reserve balance.
