HBET
Last updated
Last updated
HBET (Shibet LP Token) is a single-asset liquidity pool that entitles liquidity providers to a cut of the house proportional to their deposit.
BONE is the pool's base asset, but zap deposits routed through Shibarium are supported via Shibet web interface, with no additional fees.
As the pool increases and decreases in underlying BONE, depositors assume linear risk/reward. For example, if a user deposits $100K, bringing the pool to $1M:
If the pool climbs to $1.1M, the user's position will be worth $110K, for a PnL of $10k. (assuming no other deposits/withdrawals)
If the pool dips to $900K, the user's position will be worth $90K, for a PnL of -$10k. (assuming no other deposits/withdrawals)
How are depositors protected from large jackpots?
There is a specifically designed to minimize significant HBET drawdown resulting from big wins.
Is HBET solvent?
Always. HBET uses no leverage and its underlying BONE has no exposure to third-parties, such as external decentralized finance protocols.