The Hades Protocol is a lightweight, decentralized stablecoin protocol based on a two-way lending market, featuring automatic interest rate targeting and liquidity mining incentives. It enables users to generate DOL, a decentralized stablecoin softly pegged to the US dollar. DOL is neither issued nor managed by any central participant, intermediary, or counterparty.
HDS is the governance token within the Hades Protocol, serving primarily as a credential for community members to propose changes or make significant decisions regarding the protocol. Simultaneously, HDS acts as the incentive token for the Hades Protocol, allowing users to earn rewards through providing assets, borrowing assets, or staking designated liquidity proofs.