Holdstation USDCPrice

(HSUSDC)

hsUSDC is a receipt token representing a deposit in the Holdstation USDC Vault on the zkSync Era network. When you deposit USDC, you are minted hsUSDC at the current exchange rate. It serves as a liquid staking token. In contrast, veHSUSDC (vote-escrowed HSUSDC) is the governance version obtained by locking your tokens. Holding veHSUSDC grants voting power over protocol emissions and entitles the user to an increased share of rewards.

Yield is generated from the trading fees of the platform's perpetual trading ecosystem. As traders pay fees or incur losses, these profits are distributed back to the USDC Vault. This mechanism causes the value of hsUSDC to increase relative to USDC over time. This is considered "Real Yield" because it is derived from actual protocol activity and platform utility rather than simple token inflation.

Withdrawals from the USDC Vault involve a specific epoch-based waiting period, typically lasting 20 days (5 epochs). Users must first initiate a "Withdraw" request and wait for this period to conclude. Once the duration has passed, users must manually "Redeem" their funds to return them to their wallet. This delay is a security and stability measure. During this time, the APY remains variable based on market volatility.

GOLD is an off-chain reward system earned through activities like trading or maintaining balances in your wallet. These points can be converted into uGOLD, which is exchangeable for stablecoins. Maintaining a balance of hsUSDC contributes to your daily GOLD accrual. Additionally, these points are often used to determine eligibility for ecosystem distributions and community incentives based on user activity levels.

The primary risk is counterparty risk, as the USDC Vault acts as the liquidity provider for the exchange. If traders achieve significant collective profits, the vault’s value could decrease. Furthermore, capital in the vault is used for market debt-clearing through liquidations. While liquidation fees generally provide profit, users should be aware that their funds are actively participating in the exchange's risk management and market-making mechanisms.

hsUSDC is native to the zkSync Era network. To acquire it, users must first bridge USDC to zkSync Era from other layers. Liquidity is primarily available on decentralized exchanges within that ecosystem or through the protocol’s native vault interface. While it may not be available for direct purchase on all centralized exchanges, users can track asset information on LBank and manage their holdings through supported wallets.