Question 1

What collateral position is required before minting HAI?

Accepted Answer

First deposit approved collateral into the protocol and open a vault; that collateralized position is then used to mint HAI. Not every token can be deposited and used to borrow HAI in the same way.

Question 2

What determines the amount of HAI that can be borrowed?

Accepted Answer

Borrowing capacity depends on the minimum collateral ratio (MCR) for the selected collateral type. The size of a HAI loan must follow the requirements for that collateral; terms for one collateral type should not be assumed to apply to another.

Question 3

How is collateral unlocked from a HAI vault?

Accepted Answer

The vault debt must be repaid to unlock its collateral. What is released is the collateral asset in the vault; unlocking collateral is different from adding more collateral to the position.

Question 4

How can additional assets improve a HAI vault’s health ratio?

Accepted Answer

Adding collateral to the vault can improve the position’s health ratio. Supplying more collateral increases the asset backing for the borrowing position, whereas repaying debt is a separate position-management action.

Question 5

Is HAI’s redemption price fixed at US$1?

Accepted Answer

No. HAI is not hard-pegged to US$1. Its stated redemption price is a floating target price that can move slowly over time, so it should not be understood as permanently fixed at US$1.

Question 6

When may a HAI vault be liquidated?

Accepted Answer

A vault may be liquidated if its collateral ratio falls below the required threshold. The condition is insufficient collateralization, so the ratio needs to remain within the applicable requirement.

Question 7

What happens if the Stability Pool lacks enough HAI for a liquidation?

Accepted Answer

Public auctions remain as a fallback mechanism. They are used only when the Stability Pool does not have enough HAI to cover the liquidation; the pool does not mean public auctions have been eliminated.

Question 8

Is simply holding haiVELO enough to earn veVELO voting rewards?

Accepted Answer

No. Holding haiVELO alone should not be treated as meeting the reward condition. To earn these voting rewards, haiVELO must be deposited into a HAI vault; eligibility is tied to that collateral deposit.

Question 9

Can deposited haiVELO earn voting rewards and also be used to borrow HAI?

Accepted Answer

Yes. Once haiVELO is deposited in a HAI vault, it can support veVELO voting rewards and be used as collateral to borrow (mint) HAI. The actual borrowing amount remains subject to that collateral’s minimum collateral ratio.

Question 10

Does staking KITE increase rewards for every HAI minting activity?

Accepted Answer

Not in every case. The reward increase from staking KITE applies to haiVELO deposits and certain HAI minting activities; it does not establish the same increase for every collateral type or every minting position.

Question 11

Which asset pays the protocol-fee share from KITE staking?

Accepted Answer

The fee share is paid in HAI stablecoins. It is available to participants who stake KITE and represents a share of protocol fees; holding HAI by itself does not establish entitlement to that share.

Question 12

Can the assets backing HAI themselves generate yield?

Accepted Answer

Yes. HAI is backed by yield-bearing assets, meaning the collateral assets have a yield-generating characteristic. That characteristic alone does not mean every HAI holder automatically has the same right to receive yield.

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