Over the past 24 hours of market volatility, Hylo has continued to perform as designed. Volume on hyUSD redemptions has increased, reducing its supply. xSOL minting activity however has increased, helping absorb SOL price action in the underlying collateral.
As a result, hyUSD remains over-collateralized. The protocol is currently operating in normal mode with a collateral ratio of 159%.
Hylo Exchange Stats (last 24h):
hyUSD
Mint: $262,796
Burn: $2,057,590
Net: -$1,794,794
xSOL
Mint: $1,089,332
Burn: $151,844
Net: +$937,488