Hatom (HTM) is a cryptocurrency launched in 2023 on the MultiversX platform. It operates as a decentralized lending and borrowing protocol, offering a comprehensive ecosystem for DeFi services. Key features include liquid staking, a native stablecoin, and lending as a service, all designed to enhance scalability and security within the MultiversX blockchain.
Hatom (HTM) is a cryptocurrency that plays a central role in the Hatom Ecosystem, which focuses on fostering decentralized finance (DeFi) on the MultiversX blockchain. The HTM token is used in several key ways:
Governance: HTM token holders have the power to vote on protocol changes and shape the future of the ecosystem through on-chain governance mechanisms. This allows the community to actively participate in decision-making processes, ensuring that the ecosystem evolves according to their needs and preferences.
Lending and Borrowing: The Hatom Lending Protocol allows users to lend and borrow assets, including HTM, in a decentralized manner. This protocol facilitates collateralized loans, enabling users to access liquid capital without selling their positions.
Liquid Staking: Hatom's Liquid Staking module enables users to stake their EGLD (MultiversX's native token) without locking up its value. Users receive sEGLD tokens, which can be used in various DeFi applications, including lending protocols and NFT marketplaces.
Staking and Revenue Distribution: HTM token holders can stake their tokens to earn a share of the revenue generated by the ecosystem from various sources, such as the Lending Protocol and Liquid Staking.
Safety Module: HTM token holders can deposit their tokens in the Safety Module to enhance the protocol's security and receive incentives in the form of HTM tokens.
Lending Application: HTM will be integrated into the Lending Application, allowing users to supply and borrow HTM, creating a dynamic lending market around the token.
In summary, the HTM token is the lifeblood of the Hatom Ecosystem, facilitating governance, lending, staking, and revenue distribution, while also enhancing security and creating a dynamic lending market.
To store Hatom (HTM) tokens securely, it is recommended to use cryptocurrency wallets. There are two types of wallets: software wallets (hot wallets) and hardware wallets (cold wallets). Software wallets are connected to the internet and are less secure, while hardware wallets are offline and more secure. Ledger is a highly secure crypto hardware wallet for storing cryptocurrencies. Each hardware wallet comes with a seed phrase, which acts as a key to unlock the wallet. It is recommended to store the seed phrase in a physical form, such as metal seed phrase storage solutions, to protect it from loss or destruction.
To buy Hatom (HTM) tokens, follow these steps:
Choose a Centralized Exchange:
- Select a reliable and trustworthy crypto exchange that supports Hatom (HTM) purchases, such as KuCoin, Binance, or MEXC.
- Consider the ease of use, fee structure, and supported payment methods when choosing an exchange.
Create an Account:
- Enter the required information and set a secure password.
- Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.
Verify Your Identity:
- Complete KYC verification, which may require information based on your nationality and region. This step is necessary for accessing more features and services on the platform.
Add a Payment Method:
- Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment method.
Buy Hatom (HTM):
- Use fiat currency if supported, or first purchase a popular cryptocurrency like USDT and then exchange it for Hatom (HTM).
Alternatively, you can also buy Hatom (HTM) via a crypto wallet if it supports direct fiat-to-HTM purchases. If not, you can first buy a popular cryptocurrency and then exchange it for Hatom (HTM) through your crypto wallet or on a decentralized exchange.
