Hatom Lending Review: Is It Right for MultiversX Users?

Hatom Lending is a decentralized lending and borrowing app built for MultiversX. You can connect a wallet, inspect supply and borrow markets, and track balances and your borrow limit in the app. Supplying means placing an asset into a lending market; borrowing means taking an available asset against collateral, subject to the protocol’s rules. The app separates a main pool from a USH pool, and its interface says you must switch to the USH pool to use its minting market. It describes USH as an over-collateralized stablecoin pegged to the US dollar.

The app also lists liquid staking, an isolated protocol, a bridge and other Hatom products. Those are separate offerings, so don’t assume that using Hatom Lending automatically gives you access to their features. Check that the asset and pool you intend to use are supported, and understand the market’s collateral and borrowing limits before committing funds.

The app shows APY fields for markets, but rates are variable market conditions, not guaranteed returns. Check the current supply and borrow APY in the app immediately before transacting. Hatom does not publish a clear fee schedule in the project details described here, so confirm whether a market charges protocol fees and how interest accrues before you use it.

You should also account for MultiversX transaction costs when supplying, borrowing, repaying or withdrawing. These are separate from any interest or protocol charges. A borrow can become more expensive as interest accrues, and changes in collateral value can bring a position closer to its limit. The app’s borrow-limit display is useful, but it does not replace checking the exact collateral factor, liquidation threshold and liquidation penalty for the asset you plan to use. If these terms aren’t visible for a market, don’t assume a rate or limit from another pool applies.

Hatom’s security area lists several firms and versions for the lending protocol, including Runtime Verification, PeckShield, ABDK Consulting, CertiK, Hacken, Halborn and Arda. That is a positive sign of security work, but an auditor’s name alone does not tell you whether a report covers the current contracts, whether findings were fixed, or whether the contracts can be upgraded. Read the relevant reports and check contract addresses and versions before depositing.

Hatom describes its wider ecosystem as non-custodial. Even with non-custodial apps, your funds interact with smart contracts and you approve transactions from your wallet; bugs, exploits, oracle failures and liquidation events can still cause losses. Hatom does not publish a licence or a clear incident record in the project details described here. Treat the protocol as carrying smart-contract and market risk, and never supply funds you cannot afford to lose.

The app presents a wallet connection control, market listings and position fields for supply balance, borrow balance, collateral and borrow limit. It also has transaction alerts and a language selector. These interface elements indicate the intended workflow, but they don’t establish which wallet options are supported, how fast every transaction completes or whether a dedicated mobile app is available. You’ll need a wallet that works with MultiversX and enough of the network’s native token to cover transaction costs.

Hatom’s markets are on MultiversX; don’t send assets on a different chain unless the app explicitly supports that route. Before connecting, verify that you are on the genuine Hatom app and that the wallet is set to the correct network. Review every approval and transaction in your wallet, especially token allowances. Start with a small amount if you decide to proceed, and check that you can repay or withdraw under the market’s current conditions.

The main decision points are not just the displayed APY. You need to know which assets are accepted, the pool’s supply cap and available borrowing liquidity, the collateral factor, liquidation threshold and penalties, as well as any protocol fees. Hatom’s interface includes market and cap fields, but the values and full terms can change. Confirm them in the live app before acting.

The app also does not establish a clear KYC policy, licensing position or dispute process. Don’t assume that connecting a wallet means you have a particular legal status or recourse. USH’s dollar peg is an intended design, not a promise that it will always trade at one dollar. If you’re new to DeFi borrowing, start by learning how collateral ratios and liquidations work before borrowing; supplying assets also carries smart-contract, liquidity and market risks.