Hatom

Hatom is a lending and liquidity protocol on MultiversX, with $HTM as governance and incentive token. Users are holders of EGLD and its derivatives and on-chain borrowers wanting stablecoins against collateral, and it addresses the missing native money market in that ecosystem, where holders depend on centralised venues for liquidity and collateral and borrow rates cannot be priced by the market.

The protocol uses pooled markets, each asset with its own loan-to-value, liquidation threshold and interest curve; rates float with utilisation and undercollateralised positions are force-closed at a discount paid as a liquidation bonus. Beyond lending it issues a liquid staking receipt for EGLD that links staking yield to the money market and can be reused as collateral, while HTM funds liquidity incentives and governance votes, with a share of fees routed to the treasury. On-chain data puts locked value near 7.2 million dollars with about 2.2 million in active loans, concentrated in WBTC, WEGLD and stablecoin pools, making it the largest lending venue on that network.