Hatom Protocol
The first decentralized lending & borrowing protocol on MultiversX — $100M in TVL six days after launch.
Hatom successfully reached $100M in TVL just six days after launch, securing its position as the leading liquidity protocol on the entire MultiversX network.
Our CTO Represented Hatom in MultiversX's Inaugural Conference at Paris
The New Paradigm of Blockchain for DeFi Triumph
Picture a unique opportunity; a robust, technologically advanced blockchain ripe with potential and an engaged community ready for the next leap forward.
Enter Hatom, a trailblazing team harnessing this opportunity to elevate the MultiversX network as the foremost choice in the transition to DeFi.
A Visionary Approach by Hatom Team
The Hatom team, ever forward-thinking, identified a significant missing piece: a Lending Protocol. Responding to this, they embarked on a thorough analysis of the community and designed a strategy to deliver consistent and powerful results.
They are dedicated to delivering value and upholding a resilient, long-term value proposition, never wavering from their ambitions.
Partnering with the Perfect Development Team
After immense effort, a roadmap was born. The challenge lay in identifying a team that shared the same drive, was capable of the task, and demonstrated long-term commitment.
Who could develop in MultiversX?
“Most teams we’d contacted had provided us with unrealistic timelines, and it didn’t seem like they had the required competencies.” Ahmed Serghini, Co-CEO & COO, Hatom Labs
Overcoming Challenges with Rather Labs
We curated a tailor-made team that took the reins of the project, bringing strategic acumen to every aspect and reducing the learning curve for new technologies.
"We knew Rather Labs stood apart based on their portfolio and expertise. After our meeting, it was clear they were the right choice and all their accolades were well-earned.” Ahmed Serghini, Co-CEO & COO, Hatom Labs.
Engineering the Future of DeFi with Hatom
Hatom Protocol launched in July 2023 with its V1 release, delivering a complete set of DeFi primitives: lending markets, liquid staking, a native oracle, liquidation engine, and a custom indexer. Achieving $50+ million TVL in less than an hour from the release.
By November 2023, the protocol expanded with the launch of HTM Booster V1, allowing users to stake HTM to enhance lending yields. Alongside this, the Accumulator was introduced as a rewards system that lets users redeem protocol incentives with added HTM bonuses.
March 2024 brought a significant milestone in interoperability with the launch of the TAO Bridge, enabling seamless connections between MultiversX and Bittensor. This was accompanied by the release of TAO Liquid Staking, which unlocked new yield strategies for users holding wTAO.
One of the most impactful launches came in March 2025 with USH, the first over-collateralized, decentralized stablecoin on MultiversX. Designed to provide capital efficiency and native stability to the ecosystem, USH is already becoming a key building block for on-chain liquidity.
By mid-2025, USH went live on private mainnet while Booster V2 entered testnet, expanding the reward model to include USH and LP tokens, further aligning user incentives with protocol sustainability.