Architecture

AMO-based Collateralization

bbHLP is an AMO(automated market operation)-based architecture that allows some flexibility in allocation policy, solely to support liquidity for the asset.

Users deposit USDC on HyperEVM or another chain. Upon deposit, a corresponding amount to 90% of the amount of wHLP is minted. wHLP is a simple wrapper, like WETH, that solely exchanges 1:1 USDC for HLP shares and delivers yield. bbHLP is comprised of 90% wHLP plus 10% AMO-whitelisted LP tokens.

AMOs will be added over time for new chain integrations, but a 90% ratio of wHLP and a 10% ratio of AMO-approved LP tokens will always remain the policy, ensuring 10% liquidity/market cap ratio.

AMO Whitelist Specifications

The ONLY token type that will be approved for AMOs will be AMM LP tokens comprised of bbHLP+USDC. This ensures that while the composition is self-referential, ultimately all composition is denominated in USDC or wHLP (also USDC).

Initial AMOs

Curve on Arbitrum - bbHLP/USDC LP

HyperSwap on HyperEVM - bbHLP/USDC LP