Introduction

On April 3rd, it was reported that former founder of Babel Finance, Flex Yang, launched a distributed stable currency HOPE with native encrypted assets as reserves. The Sepolia test network dApp has now started public testing and has launched functions such as HopeSwap, Stacking, Liquidity Farming, Gauge Vote, etc.

Stable coin HOPE has started public testing on Sepolia testing network dApp

Recently there has been news of the former founder of Babel Finance, Flex Yang, launching a distributed stable currency called HOPE. This currency uses native encrypted assets as reserves and has public testing available through the Sepolia test network dApp. Among the functions available on this dApp are HopeSwap, Stacking, Liquidity Farming, Gauge Vote, and more. This article aims to delve deeper into the features of HOPE and the Sepolia test network dApp.
# HOPE: The Distributed Stable Currency
HOPE is the latest member in the world of distributed stable currencies. Unlike traditional stable currencies that are pegged to a single asset, HOPE uses a basket of native encrypted assets to maintain its stability. This approach ensures that the value of HOPE is not dependent on a single asset and is protected against volatility caused by factors affecting a single asset.
Another feature that adds to HOPE’s stability is the reserves system. For every newly issued HOPE, the reserve system is credited with the same amount of its constituents. This means that the reserves are always equal to the issuance, ensuring that the price of HOPE remains stable.
# Sepolia Test Network dApp
The Sepolia test network is a blockchain-based decentralized application that enables developers to test their applications and protocols at scale. This network supports a variety of functions such as HopeSwap, Stacking, Liquidity Farming, Gauge Vote, and more.

HopeSwap

HopeSwap is a decentralized exchange that offers traders zero fees on all trades. This feature makes HopeSwap an attractive option for traders who want to save on trading fees.

Stacking

Stacking is similar to staking, but with a slight variation. In stacking, users lock their tokens for a predetermined time period to earn rewards. The rewards are distributed from a pool funded by the project’s treasury.

Liquidity Farming

Liquidity farming is a way for users to earn rewards for providing liquidity to dApps. Users who provide liquidity to a particular dApp earn tokens proportional to the amount of liquidity provided. The rewards are distributed from a pool funded by the project’s treasury.

Gauge Vote

Gauge vote is a voting mechanism that enables users to vote on proposals that affect the Sepolia network. Voting power is proportional to the number of tokens held by each user.
# Conclusion
The Sepolia test network dApp offers a range of features such as HopeSwap, Stacking, Liquidity Farming, and Gauge Vote. The addition of HOPE as a distributed stable currency adds to the network’s already impressive features. This approach ensures that the value of HOPE is not dependent on a single asset and is protected against volatility caused by factors affecting a single asset. With the Sepolia test network dApp, developers can test their applications and protocols at scale, creating a robust blockchain ecosystem.
# FAQs
1. What makes HOPE different from other stable currencies?
HOPE is different from other stable currencies in that it uses a basket of native encrypted assets to maintain its stability rather than being pegged to a single asset.
2. What is Stacking and how does it work?
Stacking is similar to staking, but users lock their tokens for a predetermined time period to earn rewards. The rewards are distributed from a pool funded by the project’s treasury.
3. What is Liquidity Farming?
Liquidity farming is a way for users to earn rewards for providing liquidity to dApps. Users who provide liquidity to a particular dApp earn tokens proportional to the amount of liquidity provided. The rewards are distributed from a pool funded by the project’s treasury.