Hylen is a digital asset and smart contract system that allows you to build trust, and borrow ETH against that trust.

Using the ERC-20 standard, Hylen can be used without any exchanges, as it is backed 1:1 with ETH. This means that any wallet supporting ERC-20 tokens, also supports the Hylen loan system.

For investors: ETH is sent to the Hylen smart contract, and HYL tokens are returned. The HYL token can then be held to receive dividends in ETH, or sent to the closure address to receive your ETH back.

For traders: ETH is sent to the Hylen smart contract, and HYL tokens are returned. These are then sent to the loan address, in which you will receive 1.2-2x your HYL in ETH, depending on your trust level.


Interest rate: Interest is calculated daily, and split 60/40. 60% is sent to the default reserve, while 40% is sent to token holders.

Initial deposit: When you first receive HYL, 0.1 ETH is held until you send all your HYL to the closure address. This is used to ensure a borrower has put down collateral, while not affecting investors.

Loan address: When you receive Hylen, your ethereum address is added to the trust database. Trust is built every time you make a trade and pay all of your debts in full. Initially, your account starts with a trust level of 1 and you can only take out 1.1x your deposit. As your account gets older, your trust level increases and so does your loan limit. Trust level is calculated based on age of account and number of trades. If at any time you fail to pay your debt, your reserve deposit(0.1 ETH) is taken and your trust level reset.

Closure address: closing your account will reset your trust level, and if all debts are paid, your deposit returned.


Managing bad actors: There are two systems to minimize default risk to loaners:
1: Fees are adjusted inline with the default reserve. The default reserve is funded by fees paid by traders in the form of interest.
2: 0.1 ETH is required to stay in your account. If you are in good standing(all debts paid), your deposit will be returned when you close your account. The reserve deposit is adjusted in only high default ratio situations.

This project is still in alpha stages, but progress is moving along steadily. There will not be any ICO, as HYL will be backed by ETH 1:1. I am also looking for other developers, as I am the sole developer at this time.

I am not giving myself any HYL tokens, and as such, donations will be greatly appreciated. The top 10 donors will receive early access to the HYL system as thanks for their support.

ETH Donation: 0x57681ff8ab9eaDB753D17fa17414661631638d48
BTC Donation: 19JS3fsiPHfuLL5GE261Jxdz4ho2t3kTZa