Hubble
4 known investors
Hubble Protocol is a Solana-based DeFi protocol that lets users borrow the USDH stablecoin against deposited crypto collateral.
Also known as Hubble · Hubble Protocol
Investors · 4
Company profile
researched Aug 2026Hubble is a decentralized finance protocol built on the Solana blockchain. Its core product is USDH, a decentralized stablecoin that users mint by borrowing against crypto collateral. Depositors can supply multiple assets — including SOL, ETH and kTokens — into borrowing vaults and receive USDH, which can then be deployed across other Solana DeFi applications. Loans have no fixed maturity, so borrowers may repay whenever they choose and reclaim their collateral, retaining any appreciation in its market value while the loan is outstanding.
The protocol is designed around multiple USDH borrowing vaults, each with its own asset combinations and vault-specific parameters such as stability fees and deposit caps. Solvency of USDH borrows is backed by a combination of the USDH Vault (also called the Stability Vault) and liquidation bots that carry out market-based liquidations. USDH deposited into the Stability Vault is used to pay off bad loans, and vault depositors earn an approximately 10% net positive difference in liquidated assets. Hubble also accepts yield-bearing collateral such as mSOL, stSOL and daoSOL so that depositors can earn yield on collateral while borrowing, with documentation describing future functionality allowing users to opt in to allocating collateral to partner protocols under multiple yield strategies.
Governance is intended to be decentralized and community-driven, combining general directive proposals that let the community direct core-team development work on a quarterly basis with group proposals that allow community members to combine voting power when individual holders lack sufficient governance tokens.
Business model
Hubble operates an on-chain lending and stablecoin protocol: users deposit crypto collateral into vaults and borrow the USDH stablecoin, with vault-level parameters including stability fees and deposit caps. Liquidations of undercollateralized positions are absorbed by the USDH Stability Vault and executed by bots, and Stability Vault depositors receive a net positive share of roughly 10% on liquidated assets.
▸Full profile — market position, technology, go-to-market
Market position
Hubble is positioned within Solana's DeFi stack as a collateralized-debt-position protocol issuing a native decentralized stablecoin, USDH, intended for use across other Solana protocols.
Technology
The protocol is deployed on Solana and publishes documentation covering USDH mechanics, borrowing, the Stability Vault, peg stability, liquidations, security, risks, governance, a mobile app and an SDK. Public engineering artifacts include a liquidation bot, Solana program IDLs, Rust utility crates and macros, forks of the Solana program library, Anchor, Pyth crosschain and Metaplex libraries, and a repository of protocol audits.
Go-to-market
Hubble reaches users directly through its protocol interface and documentation, supported by a blog and a Discord community for user questions and discussion, and by decentralized governance mechanisms that channel community proposals into the core team's development roadmap.
Holders of Solana-ecosystem crypto assets such as SOL, BTC, ETH and liquid-staking tokens (mSOL, stSOL, daoSOL) who want to unlock liquidity in the form of a stablecoin while retaining market exposure to their collateral, plus DeFi users seeking yield through the USDH Stability Vault.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
In the news
▸Research sources · 8
primary sources listed
- Overview | Hubble Protocol - Official Documentationdocs.hubbleprotocol.io · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Hubble do?
- Hubble Protocol is a Solana-based DeFi protocol that lets users borrow the USDH stablecoin against deposited crypto collateral.
- Who are Hubble's investors?
- Hubble's investors include AppWorks Ventures, Digital Currency Group, Multicoin Capital, ParaFi Capital.