Bandot and Huobi H-Token reach cooperation, and launch cross-chain gateway system Guru

Bandot has teamed up with Huobi DeFi Labs to explore a more diverse world of DeFi.

Guru, launched by Bandot, is an asset cross-chain bridge gateway that serves as a bridge connecting the multi-token market and the Polkadot DeFi market, making it easier and seamless for users holding different assets to participate in the upcoming Polkadot DeFi. The launch of Guru lays a firm foundation for Huobi H-tokens’ initial cross-chain attempt.

Huobi’s ecology has gradually grown. H-tokens are ERC20 standard digital assets, which are mortgaged and minted at 1:1 to mainstream crypto-currencies. While ensuring the same value, they also provide the flexibility on Ethereum, so that more users can benefit from the development of DeFi, and the growth of Ethereum’s asset scale would be promoted.

The first stage of Guru is to realize the staking function with Huobi H-Token and HBTC will but the first to be supported. HBTC strictly anchors Bitcoin (BTC) at a 1:1 exchange rate. In other words, for each HBTC issued, it is backed by one Bitcoin in actual address. Users can exchange HBTC with BTC 1:1 at any time. At present, HBTC has been launched in industry-leading DeFi projects such as Curve, C.R.E.A.M, CoFiX, Harvest, BoringDao, with excellent liquidity on chain.

Guru is about to launch HBTC Lock Drop, when the Bandot Foundation will provide a total of 10,000,000 BDT for incentives. HBTC lock drop will last for 32 days, with a daily linear release of 312,500 BDT. Reward will be given according to the lock time and the number of HBTC locked.

The launch of Guru means that the entire ecology of Bandot will be enriched, and Guru will play an important role as the gateway of Polkadot cross-chain assets, supporting more cooperation between ecological projects in the future.