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    Solana.Tracking.USDH

    Q57. Hubble is a decentralized finance protocol built on Solana. Hubble will offer multiple Hubble currently focuses on borrowing and minting USDH - a stable coin. Users can deposit multiple kinds of crypto assets like SOL, BTC, ETH, and others to borrow up to 90.9% LTV in USDH. While borrowing, users can earn yield on their deposits. Therefore you can take your USDH and invest it in other protocols. Track where USDH is being used the most on other Solana defi protocols. What are the most popular pools where users are depositing USDH? Why do you think wallets are choosing to interact with those protocols with USDH? What tokens is USDH most commonly swapped for? What are some ways that USDH can become more adopted within the Solana ecosystem?

    Introduction:

    As mentioned in the question, the Hubble is a DeFi protocol that used to mint and borrow USDH on Solana blockchain. In this bounty we want to track the USDH on Solana blockchains by the usage of it.

    The common usage of USDH on Solana blockchain from the swapping behavior and protocol usage are shown in this investgaion.

    The detailed analysis is provided in the following figures.

    The Address of USDH token in Solana is mint='USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX'

    The swapping behavior of USDH on Solana blockchain is shown in this figure. As shown in this figure, the most swapped for tokens by USDH are shown by their share of usage. USD coin is in the first place with more than 63% of usage. The wrapped Sol has 6.27% of USDH swapped for tokens share and stands in the 4th place.

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    This bar chart demonstrates the most used DeFi programs by USDH token in the Solana blockchain. Based on the results shown in this chart, the Jupiter which is swap program has the highest usage with 13.42 transactions. The Solend with near 1300 transactions takes the 4th place and Mercurial which is Solana's first multi-token stable swap stands in the 5th rank with 779 transactions by USDH.