Fire Protocol (FIRE)

What is Fire Protocol

Fireswap Protocol is the first infrastructure to Huobi Chain, which helps onboard non-Huobi Chain assets via our cross-chain solutions, an integrated trading and money market with lending and borrowing services. The DEX and the lending platform works in conjunction, such as all tokens that are being traded can also be used as collateral on the lending platform. Additionally, Liquidity Provider tokens from the DEX can also be used as collateral. With these collaterals, users can borrow other assets for trading, which in turn increase the trading volume. With the integrated DEX, the liquidation issue of lending / borrowing platform can also be solved, as we will automate the liquidation via selling the collateral on the AMM DEX directly (limited by the amount of liquidity available on the DEX) and in turn this will be a factor to consider for the collateralization ratio.

Huobi Smart Chain (HSC) has been demonstrated as a better alternative to Ethereum. There is zero gas fee on Huobi Smart Chain, in turn incentivizing more users to transact on the chain. Furthermore, HSC is also EMV-compatible for developers to enter. Lastly, as an add-on value of the governance token, FIRE token further provides incentive plans and governance voting to maintain the user ecosystem.